In This Issue:

- Russian Civil Law Reform: Recent and Upcoming Amendments

- Anti-Corruption Laws: New Compliance Requirements for Russian Companies

..Disclosure of Beneficial Ownership

- Amendments to Russian Securities Market Regulations: Depositary Receipt Holders

- Amendments to Securities Market Regulation Related to Securities of Foreign Issuers

- Enhanced Currency Controls and Penalties

..Regulation 395-P (Basel III)

Excerpt from Russian Civil Law Reform: Recent and Upcoming Amendments -

Russia continues to adopt significant civil law reforms in an effort to improve the business and economic environment generally and to incorporate a number of modern commercial concepts into the Russian legal system. In 2012, the State Duma (the lower house of the Russian parliament) approved the “first reading” of a draft law on extensive amendments to the Civil Code. Subsequently, it was decided that these amendments would be separated into several groups to expedite their passage.