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EXPRESS-REVIEW OF THE RF LEGISLATION
| 17.6.2010 NEWS OF THE FEDERAL LEGISLATION | There is approved the standard of auditing activity
By the Order of the Ministry of Finance of Russia N 16n of February 24, 2010 (document is in Russian), it is approved the Federal standard of auditing activity "Principals of carrying out of external control of quality of auditing institutions, individual auditors work and the requirements to organization of aforesaid control". The standard is applied at carrying out of external control of quality of auditing institutions, individual auditors work by self-regulating institutions of auditors and the federal executive authority providing external control of auditing institutions work.
The Order of the Ministry of Finance of Russia N 16n of February 24, 2010 has been registered in the RF Ministry of Justice N 17488 of June 7, 2010 and it shall putt into effect in order established by clause 9 of the Edict of the RF President N 763 of May 23, 1996 (document is in Russian).
There are established the criteria to foreign stock exchanges, passing of listing on which is obligatory requirement for making decision by Russian stock exchange about admission of foreign securities to auctions without permission of the FSFM
By the Order of the Federal Service for Financial Market of Russia N 10-29/pz-n of April 27, 2010 (document is in Russian), there are approved the Criteria and the Procedure for inclusion of foreign stock exchanges to the List of foreign stock exchanges, passing of listing on which is obligatory requirement for making decision by Russian stock exchange about admission of foreign issuers securities to auctions without permission of the federal executive authority on securities market about their admission to public placing and (or) public turnover in the Russian Federation . Besides by the Order, it is approved the aforesaid List, where there are included 65 foreign stock exchanges. The decisions about inclusion (exclusion) of foreign stock exchanges to (from) the List shall be made by the Federal Service for Financial Market of Russia.
The Order has been registered in the Ministry of Justice of the Russian Federation N 17494 of June 7, 2010.
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| 16.6.2010 NEWS OF THE FEDERAL LEGISLATION | There has been putted into effect the Federal Act, by which it is changed the procedure for determination of price of state and municipal ownership being subject for privatization
Since June 15, 2010 the Federal Act N 106-FZ of May 31, 2010 "On amendments to the Federal Act "On privatization of state and municipal property" (document is in Russian) is putted into effect, by which it is established that the Government of the Russian Federation has the right by its decision to entrust to legal entities to organize sale of privatized federal property or to provide functions of seller on behalf of the Russian Federation in established order. In aforesaid decision of the Government of the Russian Federation, it shall be determined federal property being subject for privatization, activities of these legal entities, size and procedure for payment remuneration to them. Earlier under special direction of the Russian Federation Government, a specialized state institution or specialized state institutions on its behalf may provide functions on sale of privatized federal property.
In accordance with the amendments, it is excluded the notion of normative price of state and municipal property being subject for privatization. Initial price of state and municipal property being subject for privatization may be established in cases provided by the Federal Act N 178-FZ of December 21, 2001 "On privatization of state and municipal property" (document is in Russian) in accordance with legislation of the Russian Federation regulating appraiser's activity.
So the amendments have established that sale of state and municipal property by ways established by the Act may be provided in electronic form.
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| 15.6.2010 NEWS OF THE FEDERAL LEGISLATION | The RF Ministry of Justice has registered the Order, by which it is approved the forms of book-entry accounting of insurance organizations and accountability submitting in order of supervision
In accordance with the RF Art N 4015-1 "On organization of insurance business in the Russian Federation" of November 27, 1992 and the Statute about the Ministry of Finance of Russia (documents are in Russian), by the Order of the Ministry of Finance of Russia N 41n of May 11, 2010 (document is in Russian), there are approved the Directions about content of forms of book-entry accounting of insurance organizations and the Directions about procedure of filling up and submission of book-entry accounting of insurance organizations, as well as the form of accountability for submission by insurance organizations in Order of supervision to the Federal Service for insurance supervision and its territorial bodies. It is recommended to insurance organization, at development of forms of book-entry accounting submitting to other fixed addresses, to use the samples of forms approved by this Order.
The Order has been registered in the Ministry of Justice of the Russian Federation N 17485 of June 7, 2010, and it shall be applied since the beginning of accountability for first half-year 2010.
There determined the standards of disclosure of information by natural monopoly entities of rendering services of communication
By the Decree of the RF Government N 401 of June 9, 2010 (document is in Russian), there are approved the standards of disclosure of information by natural monopoly entities rendering services in the sphere of communication. The standards are established in respect of natural monopoly entities rendering services of public telecommunication and public mail service, in respect of which state regulation and control are provided. Information is disclosed by means of publication at official site of a natural monopoly entity in the Internet network, at official site determined by the Government of the Russian Federation and in official mass-media, as well as by means of free granting under written requirements of communication services consumers. At that information placed at official site must be free during 5 years, and at territories where access to Internet network is absent, information shall be disclosed by means of publication in official print publications in full. Exhaust list of information being subject for disclosure includes in particular information about tariffs, indexes of financial and economy activity of natural monopoly entities, consumers characteristics of services and their compliance to quality standards, availability of technical possibility of access to services, terms for rendering services and accession to infrastructure of natural monopoly entities, as well as about investment programs including reports about their realization.
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