On the revocation of banking licence and appointment of provisional administration
By Order No. OD-3459, dated 10 December 2014, the Bank of Russia revoked the banking licence of the Kursk-based Non-bank credit institution First Land Settlement Centre, limited liability company (NCI First Land SC LLC) (Registration No.
The Bank of Russia took such an extreme measure — revocation of the banking licence — because of the credit institution’s repeated violations over the past year of the requirements stipulated by Article 7 (excluding Clause 3 of Article 7) of the Federal Law ‘On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism’.
NCI First Land SC LLC failed to comply with the requirements of legislation on anti-money laundering and countering the financing of terrorism with respect to taking timely measures to identify customers and submitting to the authorised body reliable information on operations subject to mandatory control. Besides, the credit institution was involved in dubious operations with cash.
By its order No. 0D-3460, dated 10 December 2014, the Bank of Russia has appointed a provisional administration to NCI First Land SC LLC for the period until the appointment of a receiver pursuant to the Federal Law ‘On the Insolvency (Bankruptcy) of Credit Institutions’ or a liquidator under Article 23.1 of the Federal Law ‘On Banks and Banking Activities’. In accordance with federal laws, the powers of the credit institution’s executive bodies are suspended.
According to its reporting, as of 1 November 2014, NCI First Land SC LLC ranked 840th by assets in the Russian banking system.
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10.12.2014 00.00.00