On 14 July 2022, RUS CB proposed rules on acquiring shares in credit firms.
- RUS CB issued draft ordinance amending 185-I on obtaining RUS CB consent to acquire shares in a financial organization and/or to establish control over shareholders of a financial organization and to send notifications to RUS CB about cases in which a person who had right, directly or indirectly, dispose of more than 10% of shares of a non-bank financial institution, completely lost such a right or retained right to directly or indirectly dispose of less than 10% of shares of a non-bank financial institution.
- The purpose of the draft directive is to improve the procedure for obtaining consent of RUS CB to acquire shares in a credit firm and to establish control over shareholders.
- The draft provides a list of documents for submission with an application for a credit firm to obtain RUS CB consent to acquire over 10% of shares in another credit firm.
- The draft recommends examples of RUS CB decisions on issuance of consent.
- Comments and feedback are expected by 27 July 2022.