25.02.2016, 23:35
CB to Make Checking Data on Deputy Candidates' Accounts Fully Automatic
OREANDA-NEWS. Upon requests of election commissions market participants (credit institutions, register holders and depositories) will submit all available data on accounts, deposits and securities of deputy candidates or nominees for other elective posts, as well as data on accounts, deposits and securities of the candidate's spouse and underage children. The procedure for submitting data is described in the draft Bank of Russia Ordinance 'On the Procedure for Market Participants to Receive from the Central Election Commission of the Russian Federation and Election Commissions of the Russian Federation Constituent Territories Requests to Submit Data on Deputy Candidates or Nominees for Other Elective Posts and the Procedure and Timeframe for Market Participants to Reply to the Requests to Submit Data on Deputy Candidates or Nominees for Other Elective Posts'.
This checking mechanism became possible owing to Federal Law No. 231-FZ, dated 13 July 2015, 'On Amending Certain Laws of the Russian Federation', which came into effect on 9 February 2016.
The whole process of checking data on nominees' accounts, deposits and securities is supposed to be fully automatic. The draft ordinance stipulates the mechanisms of submitting data that would considerably reduce transaction burden on all information exchange participants.
Aggregation of data in requests, application of established formats of file exchange, infrastructure of accounts on the Bank of Russia website, and a number of other conceptual decisions will make it possible to automate the checking process practically in full. It is assumed that market participants should submit the requested data no later than seven days from the date of receiving the request.
Therefore, the supposed procedures for filing a request and submitting data on nominees will allow to reach a qualitatively new level of checking the nominees' property.
In order to make an assessment of the regulatory impact and anti-corruption expertise the document will be published on the Federal Portal of Draft Regulations and Bank of Russia website from 20 to 27 February 2016.
This checking mechanism became possible owing to Federal Law No. 231-FZ, dated 13 July 2015, 'On Amending Certain Laws of the Russian Federation', which came into effect on 9 February 2016.
The whole process of checking data on nominees' accounts, deposits and securities is supposed to be fully automatic. The draft ordinance stipulates the mechanisms of submitting data that would considerably reduce transaction burden on all information exchange participants.
Aggregation of data in requests, application of established formats of file exchange, infrastructure of accounts on the Bank of Russia website, and a number of other conceptual decisions will make it possible to automate the checking process practically in full. It is assumed that market participants should submit the requested data no later than seven days from the date of receiving the request.
Therefore, the supposed procedures for filing a request and submitting data on nominees will allow to reach a qualitatively new level of checking the nominees' property.
In order to make an assessment of the regulatory impact and anti-corruption expertise the document will be published on the Federal Portal of Draft Regulations and Bank of Russia website from 20 to 27 February 2016.
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