INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of May 7, 2018 No. 4791-U

About requirements to the organization by the organizer of trade of risk management system, connected with the organization of the biddings, and also with implementation of transactions with own property, and to the documents of the organizer of trade determining the measures directed to decrease in the specified risks and prevention of conflict of interest

This Instruction based on parts 1 and 4 of Article 15, Item 12 of part 1 of article 25 of the Federal Law of November 21, 2011 No. 325-FZ "About the organized biddings" (The Russian Federation Code, 2011, No. 48, Art. 6726; 2012, No. 53, Art. 7607; 2013, No. 30, Art. 4084; No. 51, Art. 6699; 2015, No. 27, Art. 4001; No. 29, Art. 4357; 2016, No. 1, Art. 47, Art. 48; No. 27, Art. 4225; 2017, No. 30, the Art. 4456) (further - the Federal Law "About the Organized Biddings") establishes requirements to the organization by the organizer of trade of risk management system, connected with the organization of the biddings, and also with implementation of transactions with own property (further in case of joint mentioning - risks of the organizer of trade), including the requirements directed to decrease in risks of implementation of activities for carrying out the organized biddings (further - risk management), and to the documents of the organizer of trade determining the measures directed to decrease in the specified risks and prevention of conflict of interest.

Chapter 1. Requirements to the organization by the organizer of trade of risk management system

1.1. The organizer of trade shall organize the risk management system corresponding to nature and amount of the transactions made by him and containing the measures directed to decrease in risks of the organizer of trade, the monitoring system of risks of the organizer of trade providing bringing necessary information to data of governing bodies of the organizer of trade.

1.2. The organizer of trade within the organization of risk management system shall provide implementation of the processes and actions provided in Chapters 2 and 3 of this Instruction.

1.3. In case of combination by the organizer of trade of the activities with other types of activity risk management system shall provide management including the risks connected with combination of activities for carrying out the organized biddings with other types of activity. The organizer of trade combining activities for carrying out the organized biddings with other types of activity shall take measures for prevention and settlement of conflicting interests, arising at it in connection with such combination.

1.4. The organizer of trade within the organization of risk management system shall designate the official or create the separate structural division responsible for the organization of risk management system, except for risk of origin at the organizer of trade of expenses (losses) and (or) other adverse effects as a result of discrepancy of the activities performed by it based on the license of the exchange or the license of trade system, to requirements of the legislation of the Russian Federation regulating activities of the organizer of trade, to rules of the organized biddings, constituent and other documents of the organizer of trade and (or) as a result of application of measures concerning the organizer of trade from the Bank of Russia (further - regulatory risk).

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