Category: Russian Economy

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

Credit institutions should carefully monitor whether there is written consent from legal representatives of minor clients aged 14 to 18 when opening a bank account for them. This is stated ininformation letter Bank of Russia.

The regulator found that some banks open accounts for minors without such consent or do not have documentary evidence of its receipt.

This creates the preconditions for involving teenagers in high-risk financial transactions as front individuals—money mules. Typically, the purpose of such transactions is money laundering, illegal entrepreneurial activity, or other illegal activities.

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

The typical head of a financial institution is a man aged 50, with a university degree, and an average tenure of five years. The Bank of Russia compiled this profile based on data on the heads (sole executive bodies, or SEBs) of credit and insurance institutions, non-state pension funds, microfinance institutions, and management companies.

Two-thirds of executives are men, although the proportion of women has increased slightly in recent years. Most CEOs have a higher education in economics, and the least have an education in IT. Almost 20% of company heads own shares or stakes in the organizations they lead.

Read more in the article "Portrait of the Head of a Financial Organization".

Preview photo: New Africa / Shutterstock / Fotodom

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

The Bank of Russia intends to simplify access to the securities market, retaining only the registration of assets that are sensitive in terms of potential risks for a wide range of investors. The initiatives are presented inreport for public discussionThis approach will facilitate companies' entry into the capital market, reduce their costs, and reduce the timeframe for issuing securities. At the same time, disclosure requirements for issuers and guarantees for investor protection will remain.

When optimizing issuance procedures, the Bank of Russia will consider the company's status (public or non-public), the category of investors for whom the securities are intended (qualified or non-qualified), the issue volume, the par value of the securities, and other factors. One proposal is to exempt share issues in non-public joint-stock companies with no more than 50 shareholders from registration, while maintaining the company's obligation to maintain records of securities with a registrar. It is also proposed to reduce the timeframe for exercising shareholders' preemptive rights to purchase additional shares from 45 days to 15 business days. This will allow issuers to respond more flexibly and quickly to favorable market conditions in order to raise capital.

Regarding bonds, the changes will affect simple types – those with a fixed income (par value plus coupon income), a limited maturity, and centralized rights accounting. Issuers will no longer need to register such bonds or a prospectus if their borrowing volume does not exceed 3 billion rubles per year. When admitting bonds to organized trading, exchanges will verify compliance with the law.

The regulator may delegate the registration of structured bonds placed on the organized market to the exchange, and over-the-counter (OTC) bonds to the central depository, provided that the issue parameters, including the type of underlying asset, income structure, and payment procedure, are standardized. It will retain only issues with more complex terms that do not fit the established templates. Alternatively, a complete waiver of registration for such instruments is being considered. In this case, the exchanges will be responsible for verifying the legality of the bonds at the admission stage. The Bank of Russia is also prepared to waive the registration of bonds intended for qualified investors with a par value exceeding 3 million rubles.

Responses to the questions presented in the report, as well as comments and suggestions regarding it, can be sent to the Bank of Russia up to and including March 31, 2026.

Preview photo: Pla2na / Shutterstock / Fotodom

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

For the first time, not only schoolchildren, but also children aged 5 to 7 will be able to participate. The Olympiad will run until April 2nd inclusive on the website Uchi.ru.

This year, participants will create a business plan using neural networks, separating artificial intelligence delusions from useful advice, insuring a knight, horse, and castle before a campaign, and recognizing scammers' tricks. Depending on their results, participants will receive a certificate, diploma, or diploma, and their teachers will receive letters of appreciation.

In just one hour, you need to complete 8 tasks, which are adapted to the age of the participants.

"This Olympiad helps cultivate a financially literate generation of young entrepreneurs. And not just entrepreneurs, but people in general who know how to earn money and spend it wisely, who know how to resist fraud, who think about the future, and who aren't afraid to make their dreams come true," noted Mikhail Mamuta, Head of the Bank of Russia's Service for the Protection of Financial Services Consumers.

The Olympiad will open with an online lesson, "Mission Computer: How to Save for Your Dream," led by a representative of the Bank of Russia. During the lesson, participants will learn how to independently save for an expensive purchase, protect themselves from deepfakes, and choose the right savings products to quickly reach their financial goals.

The lesson will be broadcast on March 3 at 10:00 AM Moscow time. You can watch it onevent page on the Uchi.ru website. The broadcast will also be available on the Bank of Russia's official community page.VKontakte, where participants will be able to ask questions to the speaker.

The Olympiad is organized by the Bank of Russia, the National Priorities ANO, the Russian Ministry of Finance, the Russian Ministry of Economic Development, and the Uchi.ru educational platform as part of the national project "Efficient and Competitive Economy."

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.