Corporate Affairs Department

The Corporate Affairs Department manages the admission of securities to the financial market, performing the state registration of the issues of issue-grade securities and reports on issue results and coordinating the indicative terms of repo agreements, financial derivative agreements, and other agreements with securities and (or) foreign currency as the subject. The remit of the Department also comprises the maintenance of the registers of issue-grade securities, the registered terms for the issue of savings certificates and certificates of deposit of credit institutions and unit investment funds, and the registered rules for trust management of mortgage collateral.

Corporate affairs management is a priority area in the Department’s work. The Department controls issuers’ compliance with Russian laws on securities and joint-stock companies and is engaged in the state control over the acquisition of large blocks of public companies’ shares. The Department participates in the development of a publicly accessible system for information disclosure by issuers in the securities market and monitors the timeliness and completeness of information disclosure by them.

The Department conducts annual monitoring of public companies’ corporate governance practices and includes its findings in the surveys published on the Bank of Russia website. Public companies and financial institutions are advised to apply best practices for improving the effectiveness of their corporate governance systems.

The Department is responsible for exercising the Bank of Russia’s powers to regulate, control and supervise the activities of audit companies providing services to socially important organisations in the financial market. Furthermore, the Department communicates with the auditing community and competent agencies responsible for regulation and state supervision in auditing.

The Department prepares proposals regarding the development of the Bank of Russia’s policy for financing sustainable development and promoting the ESG transformation of businesses. Additionally, the Department drafts and takes part in the development of the regulation and the methodology for integrating ESG and sustainable development issues into corporate governance and information disclosure by credit and non-bank financial institutions and securities issuers, we well as encourages them to embrace responsible business and investment practices.

The Department sets the standards for issuing new financial instruments for sustainable development, including green, social and sustainable development bonds, and registers such issues.

Acting within its remit, the Department develops regulations and prepares information and methodological documents.