Restoration of business reputation
A person whose business reputation or qualification has been recognised as non-compliant with established requirements shall be entitled to file a complaint with the Bank of Russia Complaint Review Commission against decisions made by Bank of Russia officials on his/her non-compliance with the qualification requirements and/or the requirements for business reputation established by federal law.
The list of persons entitled to apply to the Commission is determined by Bank of Russia Ordinance No.
The Commission shall make a decision on the compliance of the applicant’s business reputation or qualification with the requirements established by federal law if it is determined that he/she was not involved in the decisions or actions/inactions which served as the basis for his/her recognition as non-compliant with the established requirements.
Requirements for the form and contents of a complaint:
- to specify information about the applicant that would allow his/her identification as well as the name and details of the document from which they became aware of the adoption of the disputed decision;
- to provide the motivated explanation of the applicant’s disagreement with the disputed decision, including references to the documents attached to the application and to the statutory norms of the Russian Federation;
- the complaint shall enclose documented evidence of the applicant’s non-involvement in decisions or actions/inactions that had negative implications for the activity of a financial institution.
Documents determining job responsibilities:
- job description;
- order on the division of authorities;
- employment agreement.
Regulations:
- regulations on the management board / board of directors;
- regulations on committees;
- regulations on internal control bodies;
- regulation on the structural unit of the applicant.
Minutes of meetings:
- minutes of meetings of the management board / board of directors / committees / internal control bodies.
Information on measures taken:
- documents confirming that the applicant, acting within the limits of his/her competence, has taken all necessary and sufficient measures to prevent circumstances leading to a negative event for a FI;
- other information about proposals submitted for consideration by the management of a financial institution in order to improve the efficiency of risk management, mitigate risks and strengthen the internal control system
After these issues are considered by the Bank of Russia, the person shall be entitled to take legal action in order to appeal against decisions on his/her business reputation or qualification.