Translation. Region: Russian Federation –
Source: Mainfin Bank –
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Image: mainfin.ru
Why does Russia's financial sector have the right not to disclose information?
The financial sector of the economy came under a massive blow from sanctions after the start of the Western Economic Cooperation (WEC) – in 2022, the West began imposing restrictions on large Russian companies, including banks, as well as individuals associated with this business. To combat sanctions, the regulator has permitted financial institutions not to publish "sensitive data," including:
information about management bodies; information about business owners; data about company officials; information about reorganizations; information about business activities.
Currently, disclosure of ownership structure information is a right, not an obligation, for businesses operating in the financial sector. The regulator has calculated that only 3 jar out of 352, as well as 28% microfinance organizations, 12% of management companies and less than 8% of NPFs and insurers.
How will banks disclose information about owners from 2027?
Businesses were granted the right not to disclose information about the owners and managers of financial companies until the end of 2026. However, starting in 2027, these exemptions will be partially lifted – organizations will be required to disclose information based on 12 criteria, including the following:
the presence of persons under whose control the bank is located (microfinance organizations, non-state pension funds, etc.); the presence of citizens of "unfriendly countries" among the owners; participation in the capital of companies whose licenses were previously revoked by the Central Bank.
"Financial institutions will be able to disclose information in a new, anonymized format. If they are not satisfied with this approach, publication under the old format is possible," the Central Bank of the Russian Federation stated.
At the same time, the regulator is already trying to satisfy the market's need for information: the Bank of Russia's website publishes data on credit institutions' compliance with regulations. Most Russian banks, including Sber, T-Bank, VTB, PSB, Gazprombank And Alfa-Bank.
09:00 01/06/2026
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