Partners of the Law Firm "YUST" took part in the meeting of a round table on the matters of regulation and development of the banking and financial markets

Managing Partner of the Law Firm "YUST" Evgeny Zhilin and Partner of the Firm Anna Kotova-Smolenskaya took part in the meeting of a round table on the matters of regulation and development of the banking and financial markets. The meeting was organized by the Corporate Lawyers’ Association (CLA) and the Bank of Russia in association with the Law Firm "YUST".

The Bank of Russia was represented at the round table by A.A.Guznov, Director of the Legal Department of the Bank of Russia, V.V.Chistiukhin, Deputy Chairman of the
Bank of Russia, and A.A.Borisenko, Deputy Head of the Banking Legislation Section of the Legal Department of the Bank of Russia.

Almost a year has passed since the Central Bank of the Russian Federation (the Bank of Russia) obtained the “mega-regulator” status and expanded its influence far beyond the borders of the banking sector. The lawyers discussed with the representatives of the Bank of Russian the latest trends in law-making and law application.

The event also dealt with the following subjects:

- banking supervision;

- consumer credits;

- regulation of corporate relations, protection of rights and legal interests of the shareholders and investors in financial markets; Corporate Management Code;

- new powers of the Bank of Russia in connection with the adoption of the so-called Securitization Law (the Federal Law No. 379-FZ “On amendments to certain legal acts of the Russian Federation” dated 21.12.2013); and many other issues.

Besides, Radmila Nikitina, Head of the Antimonopoly Law Group of the Firm, initiated a discussion about the delimitation of powers between the Bank of Russia and the Federal Service of Supervision in the Sphere of Protection of the Consumer’s Rights and Human Well-Being in the course of controlling the activity of credit organizations in issuing consumer credits. In particular, the specialist dwelt on the theme of competition between the norms of public law liability of credit organizations for breaches of the Consumer Credit Law stipulated by the Law on the Central Bank of the Russian Federation and the Administrative Offences Code.