Media: PSB can classify the Board, to avoid sanctions to guide
PSB is considering the possibility not to disclose the personal composition of management bodies, such a measure may help to protect the management of the Bank from falling under personal sanctions, the newspaper “Kommersant” , citing sources close to the Bank.
Now banks are obliged to disclose on its website information about the qualifications and experience of the members of the Board of Directors, the management Board, chief accountant and his Deputy, managers and accountants of the branches, the newspaper notes. In addition, the credit institution shall disclose the ultimate owners. In case of public issue of securities in the quarterly reports also indicate the membership of the Board of the Issuer.
The Central Bank has developed a number of measures aimed at classification of information on sanctioned entities and transactions related to the state defense order, the newspaper notes. In particular, one of the projects of the resolution resolves not to disclose to shareholders included in the sanctions list, the newspaper said. At the end of 2017, changes were made to the law “On banks and banking activities”, which give the government the authority to “determine the cases in which the credit institution is entitled not to disclose information” to be disclosed in accordance with this law.
According to the newspaper, the decision not to disclose the personal composition of management bodies of PSB is still pending. The Bank of Russia has not responded to the request of the newspaper, the PSB refused to comment.
PSB from mid-December is in the process of readjustment through the management company FCBS. The Agency on insurance of contributions (ASV) now owns more than 99.9% of the shares of ICB. In the future the Bank will be transferred to the government, and it will be headed by Petr Fradkov, who on April 24 took on the post of the head of the interim administration of specialized banks. The authorities of the Russian Federation in January announced that on the basis of PSB will create a reference Bank for operations for defense procurement and major government contracts. Banking support of the state defense order will be implemented simultaneously with the regular operations of the Bank.