BFC Bulletins Monthly News Digest
Tags Regulation
The Bank of Russia is working on the creation of an automated information disclosure control system (ACRI) that will simplify the supervision work of the regulator. Specifically, ACRI will serve as the primary control over lenders’ compliance with disclosure laws. It should be noted that complex cases (specifically those associated with the deliberate manipulation of information) will still be reviewed manually. At first, the system will be used for simple control measures (whether or not information was disclosed, whether or not the disclosure complies with the law, etc.); however, the system will have a built-in logic that will enable the system to gradually conduct more control measures.
The system, once fully-operational, will allow the regulator to focus more time on essential control measures that are extremely important for investors, consumers and the economy as a whole. The system is currently being tested and has a tentative launch date in July 2019.
