This is to inform you that the President of the Russian Federation has introduced to the State Duma the Draft of Federal Law on amendments to anti-corruption regulations referred to the restrictions of Russian public officers (hereinafter – the Draft Law).
It is expected that the Prosecutor General’s Office of the Russian Federation will be imposed to interact with foreign competent authorities in respect of adherence control of the restrictions pursuant to Federal Law no. 79-FZ of 7 May 2013, which prohibits several categories of public officers to open / own accounts (deposits) in foreign banks, save cash and securities in the banks outside the territory of the Russian Federation, own or use foreign financial instruments.
Under the Draft Law the Prosecutor General’s Office may send the requests to the Central Bank of the Russian Federation when the information cannot be obtained from foreign competent authorities. In this case the Central Bank of the Russian Federation will contact the foreign central bank or other foreign bank supervisory authority and request the information on individuals, who are prohibited to open / own accounts (deposits) in foreign banks, save cash and securities in the banks outside the territory of the Russian Federation, own or use foreign financial instruments.
Once the Draft Law is adopted it comes into force within 180 days upon its official publication.
We will keep you informed regarding the status of the Draft Law.
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Note: Please be aware that all information provided in this letter was taken from open sources. Neither ALRUD Law Firm, nor the author of this letter bear any liability for consequences of any decisions made in reliance upon this information.
We hope that the information provided herein will be useful for you.