On 29 May 2020, RUS CB issued notice on ownership of financial firms.
- RUS CB will provide simpler language about the ownership structure of financial firms.
- The aim is to help consumers, investors and public to understand the firms' ownership.
Key Points
- The simpler disclosures apply to insurers, management companies, microfinance firms.
- RUS CB will amend the process for disclosing information on the ownership structure.
- Disclosures from the firms will be in format used by banks or non-state pension funds.
- Instead of disclosing information on its official website, a firm can post on RUS CB site.
- RUS CB notice is registered by the Ministry of Justice and is effective on 9 June 2020.
