On 25 February 2021, RUS CB proposed rules on shareholder disposal of shares.
- RUS CB issued draft directive amending law Russia no 185-I on obtaining RUS CB consent for acquisition of shares of a financial organization and/or establishing control over shareholders of a financial institution and sending notifications to RUS CB.
- Specifically in cases where, as a result of share acquisition, a person lost the right to directly/indirectly dispose of over 10% shares of non-bank financial institution.
- Or retained right to dispose of under 10% of shares of non-bank financial institution.
Effectiveness
- Comments on the draft law are requested by 10 March 2021.
