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12 July 2022	Infographic "Anti-crisis measures. Limits set on foreign exchange transactions" Experts from VEGAS LEX have visualised foreign exchange restrictions that are regularly introduced since the end of February of this year as special economic measures. Bird’s-eye view at the entire system of restrictions will reduce the business’s regulatory risks. It is especially useful when the requirements for foreign exchange transactions are changing almost daily. Natalia Abtseshko, Head of International projects group Yuriy Ivanov, Head of Tax practice Ilya Shengeliya, Compliance Counsel * * I hereby give my consent for the processing of my personal dataAgreement Send
28 September 2017	Checklists: what to expect from the new audit mechanism Starting October 1st, 2017 certain supervisory and audit authorities are supposed to use checklists hat have questions used to gather information. This new mechanism is designed to solve several tasks at once: to streamline, simplify, and increase the transparency of audits. This is all for the auditors. However, people who are involved in business will also benefit from this tool if they can adopt the right approach. Maxim Grigoryev, Partner, Head of Southern directorate, Head of special projects Ilya Shengeliya, Compliance Counsel * * I hereby give my consent for the processing of my personal dataAgreement Send
7 October 2014	Corporate fraud: mechanisms for recovering assets taken out of the country Russia has stepped up development of mechanisms aiming at the return from abroad of capital lost as a result of economic crimes. The need for doing this was announced by the chairman of the Investigative Committee of Russia at the end of September 2014. A month earlier, the Russian General Prosecutor proposed to foreign colleagues the conclusion of agreements on the return of confiscated property. On this wave, on 23 September 2014, the State Duma passed during first reading the anti-corruption legislation proposed by the President of Russia. The amendments give the general prosecutor’s office the right to claim, in arbitration courts, the return of illegally acquired state and municipal property. However, the protection of private assets, taken abroad as a result of criminal acts, for now remains without proper regulation. (This legal update is available only in Russian) Ilya Shengeliya, Compliance Counsel * * I hereby give my consent for the processing of my personal dataAgreement Send
21 May 2013	Consumers blackmaling the car dealers Recently, in the sphere of retail purchase and sale of vehicles, gaining momentum is such a thing as “consumer greenmail” (in other words, consumer blackmail). The consumer imposes on the car dealer unfavourable conditions for the sale of the car, often blackmailing by claiming violation of his rights and of existing legislation and sometimes threatening litigation. Such consumer behaviour from a formal point of view is lawful, and at first glance, it may be recognized only as “unethical”. At the same time, it is fraught with serious financial and reputational losses for the auto dealers. In this connection, the problem of “consumer greenmail” requires thorough diagnostics and systemic solutions. Maxim Grigoryev, Partner, Head of Southern directorate, Head of special projects Ilya Shengeliya, Compliance Counsel * * I hereby give my consent for the processing of my personal dataAgreement Send

29 November 2017	Currency controls: the new rules for dealing with banks In November 2017, two regulatory acts were published that made significant adjustments to the mechanisms for banks to control hard currency. The first one is Guideline Manual No. 181-И, issued by the Bank of Russia (the Central Bank), that must be followed starting January 1st, 2018 to record and furnish reporting on operations with hard currency (hereinafter Manual No. 181-И). The Manual is supposed to loosen currency controls by decreasing the burden borne by residents. The second act has the opposite effect, and is geared toward tightening currency controls. This is Federal Law No. 325-FZ, which, when it enters into force on May 14th, 2018, will make it easier for banks to respond to any violations of currency law, and draws distinctions between the types of administrative liability in this area. Ilya Shengeliya, Compliance Counsel * * I hereby give my consent for the processing of my personal dataAgreement Send
31 August 2017	Disclosing beneficiaries: the subtleties of performing obligations Executive authorities can now require that legal entities disclose their beneficiaries. Treating the new regulations in an attentive manner can help avoid any unjustified accusations. By February 13th next year, the relevant authorized government agencies need to ratify the form their requirements will take, after which the mechanism will enter into full force. It will also permit controlling whether companies are meeting their associated requirements to clarify, update, and store information about their beneficiaries. However, practice in applying this has not taken shape yet, and along with that the law’s wording could result in ambiguous interpretations. That is why it is advisable for companies to pay attention to several important points. Ilya Shengeliya, Compliance Counsel * * I hereby give my consent for the processing of my personal dataAgreement Send
11 March 2014	Nationwide Survey &quot;Practice of Fighting the Corporate Fraud&quot; VEGAS LEX law firm and Russian Union of Industrialists and Entrepreneurs are happy to bring to your attention the Nationwide Survey «Practice of Fighting the Corporate Fraud» Final Report. The key mission of the Survey was to improve the tools of fighting the corporate fraud in Russia and elaborate suggestions for improving and updating Russian laws. Maxim Grigoryev, Partner, Head of Southern directorate, Head of special projects Ilya Shengeliya, Compliance Counsel * * I hereby give my consent for the processing of my personal dataAgreement Send
25 April 2013	Government purchases: reloaded. Build 20.14 On April 8, 2013, Federal Law No. 44-FZ "On contractual system in the procurement of products, works and services to satisfy state and municipal needs" (Hereafter referred to as the Contractual System Law) was published; from January 1, 2014, it is to replace the current law on orders placement. Maxim Grigoryev, Partner, Head of Southern directorate, Head of special projects Ilya Shengeliya, Compliance Counsel * * I hereby give my consent for the processing of my personal dataAgreement Send

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