Russian Legislation Update

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In This Issue:

- Judicial Reform

- Personal Data

- Banking

- Payment System

- Credit Histories

- Concession Agreements

- Excerpt from Judicial Reform:

On 28 June 2014 the President signed Federal Law No. 186-FZ amending the Commercial Court Procedure Code of the Russian Federation (the “CCPC”). The amendments relate to the forthcoming – as of 6 August 2014 – abolishment of the Russian Supreme Commercial Court (the “SCC”) and the transfer of its jurisdiction issues to the Russian Supreme Court (the “Supreme Court”), which will operate in a new structure. The amended CCPC rules are in many ways similar to the current civil procedure rules.

The status of the SCC’s and the Supreme Court's clarifications with regard to the issues of court practice -

According to the amendments, the rationale of court decisions may contain references not only to the resolutions of the Plenum and Presidium of the newly merged Supreme Court but also to the resolutions of the SCC Plenum and Presidium that remain in force after the abolishment of the SCC (amended Para. 7 of Article 170 (4) of the CCPC). Consequently, the legal positions of the SCC Plenum and Presidium remain in force until they are reviewed by the newly merged Supreme Court.

Please see full Update below for more information.

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Topics:  Banking Sector, Banks, CCPC, Proposed Legislation, Regulatory Reform, Russia

Published In: Civil Procedure Updates, General Business Updates, Finance & Banking Updates, International Trade Updates, Science, Computers & Technology Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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