INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of August 10, 2015 No. 167-I

About procedure for conducting checks of observance of requirements of the Federal Law by the Bank of Russia of July 27, 2010 No. 224-FZ "About counteraction to unauthorized use of the insider information and to market manipulation and about modification of separate legal acts of the Russian Federation" and the regulations adopted according to it

List of amending documents

This Instruction based on Item 1 of part 1 of article 14 of the Federal Law of July 27, 2010 No. 224-FZ "About counteraction to unauthorized use of the insider information and to market manipulation and about modification of separate legal acts of the Russian Federation" (The Russian Federation Code, 2010, No. 31, Art. 4193; 2011, No. 29, Art. 4291; No. 48, Art. 6728; 2012, No. 31, Art. 4334; 2013, No. 30, Art. 4082, Art. 4084; 2014, No. 30, the Art. 4219) (further - the Federal Law of July 27, 2010 No. 224-FZ), the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, No. 28, Art. 2790; 2003, No. 2, Art. 157; No. 52, Art. 5032; 2004, No. 27, Art. 2711; No. 31, Art. 3233; 2005, No. 25, Art. 2426; No. 30, Art. 3101; 2006, No. 19, Art. 2061; No. 25, Art. 2648; 2007, No. 1, Art. 9, Art. 10; No. 10, Art. 1151; No. 18, Art. 2117; 2008, No. 42, Art. 4696, Art. 4699; No. 44, Art. 4982; No. 52, Art. 6229, Art. 6231; 2009, No. 1, Art. 25; No. 29, Art. 3629; No. 48, Art. 5731; 2010, No. 45, Art. 5756; 2011, No. 7, Art. 907; No. 27, Art. 3873; No. 43, Art. 5973; No. 48, Art. 6728; 2012, No. 50, Art. 6954; No. 53, Art. 7591, Art. 7607; 2013, No. 11, Art. 1076; No. 14, Art. 1649; No. 19, Art. 2329; No. 27, Art. 3438, Art. 3476, Art. 3477; No. 30, Art. 4084; No. 49, Art. 6336; No. 51, Art. 6695, Art. 6699; No. 52, Art. 6975; 2014, No. 19, Art. 2311, Art. 2317; No. 27, Art. 3634; No. 30, Art. 4219; No. 45, Art. 6154; No. 52, Art. 7543; 2015, No. 1, Art. 4, Art. 37; No. 27, Art. 3958, Art. 4001; "The official Internet portal of legal information" (www.pravo.gov.ru), on July 13, 2015), establishes procedure for conducting checks of observance of requirements of the Federal Law by the Bank of Russia of July 27, 2010 for No. 224-FZ and regulations adopted according to it.

Chapter 1. General provisions

1.1. Checks of observance of requirements of the Federal Law of July 27, 2010 No. 224-FZ and regulations adopted according to it (further-) are performed by the Bank of Russia for the purpose of prevention, identification and suppression of abuses at the organized biddings in the form of unauthorized use of the insider information and (or) market manipulation.

1.2. Are performed by the Bank of Russia (Department of counteraction to unfair practicians (further - Department).

1.3. It is performed in the presence of signs of violations of the requirements and prohibitions established by the Federal Law of July 27, 2010 No. 224-FZ based on information which is available in the Bank of Russia, including:

received from physical persons and legal entities, public authorities, other bodies and the organizations;

information containing in mass media, other open sources, and also the Internet;

revealed by the Bank of Russia by means of the hardware and software.

Chapter 2. Conducting check

2.1. It is performed by bank clerks of Russia from number of persons employed of Department based on the decision of the Chairman of the Bank of Russia (his deputy) who is drawn up in the form of the order on conducting check.

Several independent checks can be united in one based on the decision Chairman of the Bank of Russia (his deputy) who is drawn up in the form of the order on consolidation of checks if each of checks is carried out concerning the same person.

2.2. It is performed in time, not exceeding eight months. The term of conducting check is estimated from registration date of the order on conducting check. In case of consolidation of checks terms of conducting check are estimated from registration date of the order on conducting the check begun with the first before consolidation of checks. Taking into account complexity of check, quantity and amount of the checked information the term of conducting check can be prolonged based on the decision of the Chairman of the Bank of Russia (his deputy) who is drawn up in the form of the resolution on the order specified in Item 2.1 of this Instruction for the term of no more than two months.

2.3. Check can be suspended in the presence of the circumstances testimonial of objective impossibility of conducting check, including in cases:

counteractions to conducting check;

need of receipt of information from foreign regulators of the financial markets, the Central (national) Banks of foreign states (other supervision bodies of foreign states as which banking supervision enters), and also international banks and other international monetary organizations for bank inquiry of Russia;

emergence of other bases interfering further conducting check.

In time conducting check the period for which it is suspended does not join.

Decisions on suspension and renewal of term of conducting check are accepted by the Chairman of the Bank of Russia (his deputy).

Check can be suspended for the term which is not exceeding nine months. If check was suspended due to the need of receipt of information from foreign regulators of the financial markets, the Central (national) Banks of foreign states (other supervision bodies of foreign states as which banking supervision), and also international banks and other international monetary organizations enters and within nine months the Bank of Russia did not obtain required information, term of suspension of the specified check it can be prolonged for a period of up to three months.

The maximum term of suspension of check cannot exceed twelve months.

For the term of suspension of conducting check are suspended the Bank of Russia on reclamation of documents according to Item 2.4 of this Instruction.

2.4. During conducting check the Bank of Russia requires (requests) information and (or) documents necessary for conducting check, including the documents and materials executed in the form of digital record or in the form of record on electronic media by the direction of requirements (requests) about provision of information and (or) documents to the Russian and foreign legal entities, to the foreign organizations who are not legal entities, to physical persons (including foreign citizens), including to individual entrepreneurs, federal executive bodies, executive bodies of the government of subjects of the Russian Federation, the local government bodies, other bodies or the organizations performing functions of the specified bodies, to governing bodies of state non-budgetary funds having the right to place temporarily available funds in financial instruments according to the Federal Laws and other regulatory legal acts of the Russian Federation.

2.5. The Bank of Russia requires (requests) necessary for prevention, identification and suppression of violations of the requirements established by the legislation of the Russian Federation on counteraction to unauthorized use of the insider information and to market manipulation, information including requires representation of the performed records of data exchange, from any person concerning whom reasons to believe are had that it has necessary information.

2.6. The challenge of person in the Bank of Russia for provision of necessary information and (or) explanations is performed by the direction to the corresponding person of the telegram, the telephone message or the message of fax connection, the registered mail with the assurance of receipt or with use of other means of communication and the deliveries providing delivery of the notification on challenge to the addressee and fixation of its delivery.

Information and (or) explanations provided by person in oral form are fixed in the protocol of poll of person (appendix to this Instruction). Such protocol is constituted in one copy by the bank clerk of Russia performing and signed by person which provided information or explanations, or the authorized representative of this person (further - the representative) in case of its participation, and serving (employees) of the Bank of Russia, performing (carrying out), and also the bank clerk of Russia who constituted the protocol of poll. The protocol of poll joins check materials.

In the protocol of poll details of the order which appointed the corresponding check, date and time of holding poll, the information about person providing information and (or) explanations, information and (or) explanations, and also other necessary information shall be specified.

If person called in the Bank of Russia for provision of information and (or) explanations provides information and (or) explanations in writing, data on this fact with indication of details of the provided document and the number of sheets in the provided document are entered in minutes of poll of person. Written information and (or) explanations shall be signed by person (his representative) which presented them.

If person called in the Bank of Russia for provision of information and (or) explanations refuses their provision and (or) signing of the protocol, the corresponding record which makes sure the signature (signatures) of the Bank of Russia serving (employees) performing (carrying out) is entered in minutes. The corresponding record is also made in case of refusal from signing of the protocol by the representative (with its participation).

During the poll can be carried out photography, audio-and (or) video, and also special technical means of communication and the Internet are used. When using special technical means of communication and the Internet transfer through open channels of information protected in accordance with the legislation of the Russian Federation including is forbidden by regulations of the Bank of Russia.

Poll can be performed with use of systems of video conferencing if technically possible of its implementation.

For the purpose of participation in poll only territorial offices of the Bank of Russia can perform the organization of video conferencing.

The territorial office of the Bank of Russia performing the organization of video conferencing identifies the personality of the been persons, checks their powers and finds out question of possibility of their participation in poll.

In case of holding poll by means of video conferencing the protocol of poll is constituted by the employee of territorial office of the Bank of Russia. Such protocol is signed by the person which provided information or explanations, and serving (employees) of territorial office of the Bank of Russia.

The protocol of poll constituted by the employee of territorial office of the Bank of Russia within three working days goes to Department with all appendices.

If person called in the Bank of Russia for provision of information and (or) explanations refuses their provision and (or) refuses signing of the protocol, the corresponding record which makes sure the signature (signatures) of the territorial office of the Bank of Russia serving (employees) is entered in minutes. When using systems of video conferencing poll video can be performed. The material carrier of video of poll joins the protocol of poll.

2.7. If for prevention, identification and suppression of unauthorized use of the insider information and (or) market manipulation special knowledge of science, the equipment, art or craft are required, the Bank of Russia has the right to involve the expert to conducting examination and making the expert opinion, the translator, and also the other persons having necessary knowledge for implementation of consultations on the questions considered during check.

2.8. The documents and (or) information and explanations received during check join check materials.

2.9. By results of check the inspection statement is drawn up and signed. The inspection statement shall be drawn up and signed the employee (employees) of the Bank of Russia performing (carrying out) and is registered in time, not exceeding fifteen working days after completion of term of conducting check.

2.10. In case of identification of the facts (events) and circumstances which can testify to need of immediate application of measures the intermediate inspection statement before its completion can be drawn up.

In case of identification of violation by legal entities and physical persons of the rights and legitimate interests of investors or if the actions made by legal entities and physical persons create threat to the rights and legitimate interests of investors, based on the intermediate inspection statement Department submits for consideration of management of the Bank of Russia and (or) Committee of financial supervision of the Bank of Russia, Committee of banking supervision of the Bank of Russia of the offer on decision making before the end of check, including the decision on the direction to professional participants of the security market and to organizers of trade of the instruction of the Bank of Russia about suspension of carrying out the separate transactions performed for the benefit of such persons.

Instructions about suspension of transactions are signed by the Chairman of the Bank of Russia (his deputy).

2.11. Information containing in the inspection statement according to the list of information of limited access of the Bank of Russia belongs to information of limited access. On the inspection statement the restrictive mark "For office use" is put down. Upon termination of check all materials are created in the separate case of check which also have restrictive mark "For office use".

2.12. The treatment of check materials, their storage, destruction, issue and transfer to the third parties is performed according to requirements of regulations of the Bank of Russia in the field of information security of limited access.

Information obtained during conducting checks, and also contents of the inspection statement cannot be divulged by the Bank of Russia to the third parties, except as specified, stipulated by the legislation the Russian Federation and regulations of the Bank of Russia.

2.13. By results of check based on the inspection statement Department submits for consideration of management of the Bank of Russia and (or) Committee of financial supervision of the Bank of Russia, Committee of banking supervision of the Bank of Russia of the offer on decision making or informs management of the Bank of Russia on lack of the bases for decision making by results of check.

2.14. By the Bank of Russia it is performed on new and (or) to newly discovered facts in the presence of the following bases:

identification of circumstances which were not and could not be known at the time of decision making by results of check, but have essential value for objective and comprehensive consideration of all circumstances and object of check;

falsification of proofs, obviously false evidence of person concerning whom during check reasons to believe were had that it has information, necessary for conducting check, obviously false expert opinion, obviously incorrect translation, doubtful transfer which entailed acceptance of unreasoned decision and (or) entering of false information into the expert opinion.

Check on new and (or) to newly discovered facts is carried out by the Bank of Russia only in cases if:

by results of earlier performed decisions on impact taking measures were not made;

there are bases on new and (or) to newly discovered facts in addition to the made decisions to make other decisions on impact taking measures.

The question of conducting check on new and (or) to newly discovered facts is considered within two months from the date of identification by the Bank of Russia of the bases for its carrying out.

Check on new and (or) to newly discovered facts is carried out at the request of the Chairman of the Bank of Russia (his deputy) according to the procedure and the terms established by Chapter 2 of this Instruction.

By results of check on new and (or) to newly discovered facts the new inspection statement according to Items 2.9 and 2.10 of this Instruction is drawn up.

Based on the inspection statement on new and (or) to newly discovered facts the Department submits for consideration of management of the Bank of Russia and (or) Committee of financial supervision of the Bank of Russia, Committee of banking supervision of the Bank of Russia of the offer on decision making on application of corrective actions or informs management of the Bank of Russia on lack of the bases for decision making by results of check.

Chapter 3. Final provisions

3.1. This Instruction becomes effective after ten days after day of its official publication in "the Bulletin of the Bank of Russia".

3.2. From the date of entry into force of this Instruction not to apply:

the resolution of the Federal Commission for the Securities Market of February 7, 2003 No. 03-8/ps "About approval of the Regulations on procedure for test of actions of persons containing manipulation signs the prices in the security market", registered by the Ministry of Justice of the Russian Federation on March 24, 2003 No. 4313 (The bulletin of regulations of federal executive bodies of May 26, 2003 No. 21);

the order of the Federal Service for Financial Markets, Central bank of the Russian Federation of October 27, 2011 No. 11-55/pz-n/374-P "About approval of the Regulations on procedure for carrying out by the Federal Service for Financial Markets together with the Central bank of the Russian Federation of checks of observance of requirements of the legislation on counteraction to unauthorized use of the insider information and to market manipulation", No. 23062 registered by the Ministry of Justice of the Russian Federation on January 31, 2012 (The bulletin of regulations of federal executive bodies of March 26, 2012 No. 13).

Appendix

to the Instruction of the Bank of Russia of August 10, 2015 No. 167-I "About procedure for conducting checks of observance of requirements of the Federal Law by the Bank of Russia of July 27, 2010 No. 224-FZ "About counteraction to unauthorized use of the insider information and to market manipulation and about modification of separate legal acts of the Russian Federation" and the regulations adopted according to it"

Recommended sample

                           PROTOCOL OF POLL NO. ___________

_______________________                                    ______________________

 (place of creation)                                        (date of creation)

Time of the beginning of poll: ____ hours _____ minutes.

Time of the end of poll: ____ hours _____ minutes.

___________________________________________________________________________

(position, surname, initials of person which constituted the protocol of poll)

in the room which is to the address: __________________________________________

__________________________________________________________________________,

          (address of the place of creation of the protocol of poll)

based on Item 3 of part 1 of article 14 of the Federal Law of July 27

2010 No. 224-FZ "About counteraction  to unauthorized use

to the insider information and market manipulation and about modification in

separate legal acts of the Russian Federation", according to

the order on conducting check No. ___ from "__" ______ 20 __ interviewed years about

the circumstances important when conducting check behind observance

requirements of the legislation of the Russian Federation about counteraction

to unauthorized use of the insider information and manipulation

market:

___________________________________________________________________________

 (surname, name, middle name (in the presence), birth date and birth place, place

residence, passport data or data of other document certifying

      the personality, persons this about nationality, caused on poll,

                      and (or) his representative)

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

Data on ownership of Russian: _______________________________________

Place of employment or studies: ___________________________________________________

___________________________________________________________________________

Other information about person called on poll and (or) his representative: ______

___________________________________________________________________________

"I confirm the information about myself"

_______________ ______________________

  (signature)    (initials, surname)

In case of participation

representative:

_______________ ______________________

(signature) (initials, surname)

Survey is carried out with the assistance of other persons:

___________________________________________________________________________

(translator, specialist and other persons, surname, name, middle name (in the presence)

To person called on poll and (or) his representative, the participating persons

it is declared use of technical means: _______________________________

__________________________________________________________________________.

Concerning the circumstances important when conducting check for

observance of requirements of the legislation of the Russian Federation about

counteraction to unauthorized use of the insider information and

to market manipulation, the interviewed person reported the following:

___________________________________________________________________________

 (are stated information (explanations) provided by person called

  on poll, and (or) his representative, and also questions posed

                              and answers to them)

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

"From my words it is written down truly"

_______________ ______________________

  (signature)    (initials, surname)

In case of participation

representative:

_______________ ______________________

  (signature)    (initials, surname)

In case of participation

translator, specialist

and other person:

_______________ ______________________

  (signature)    (initials, surname)

Appendices to the protocol:

1) ____________________________________________________________________

  (pictures and negatives, movies, videos and others

         the materials executed in case of production of poll of the witness)

___________________________________________________________________;

2) ____________________________________________________________________

     (explanations in writing on paper and (or) electronic

                       carriers, other documents)

The protocol is read by person called on poll, and (or) it

the representative, the participating persons.

Notes to the _________________________________________________ protocol

___________________________________________________________________________

  (contents of notes with indication of surname, initials of person who made

             the note, or specifying on lack of notes)

The signature of the official who constituted the protocol of poll

_______________ ______________________

  (signature)     (initials, surname)

The signature (signatures) of the Bank of Russia serving (employees) which is carrying out

(performing)

_______________ ______________________

  (signature)     (initials, surname)

_______________ ______________________

  (signature)     (initials, surname)

The signature of person called on poll:

_______________ ______________________

  (signature)     (initials, surname)

Signature of the representative

(in case of participation):

_______________ ______________________

   (signature)     (initials, surname)

Signature of the translator,

specialist and other person

(in case of participation):

_______________ ______________________

  (signature)     (initials, surname)

 

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