Translation. Region: Russian Federal
Source: Central Bank of Russia –
The regulator plans to cancel the three-year periodicity of inspections of supervised organizations for which it was established. These are credit organizations, non-state pension funds, large insurers and professional participants in the securities market, payment system operators, credit history bureaus, trade organizers and others.
Project changes The instructions on the inspection procedure are published on the Bank of Russia website.
Inspections of financial market participants will be conducted based on supervisory needs and assessment of information about their activities. Thus, the Bank of Russia will completely switch to a risk-oriented model of inspection planning.
These changes will reduce the administrative burden on bona fide and transparent market participants.
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