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Ministry of Justice

Russian Federation

On October 24, 2016 No. 44128

INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of September 30, 2016 No. 4145-U

About requirements to Rules of internal control and internal audit of repository

This Instruction based on Item 5 of article 15.7 of the Federal Law of April 22, 1996 No. 39-FZ "About the security market" (The Russian Federation Code, 1996, No. 17, Art. 1918; 2001, No. 33, Art. 3424; 2002, No. 52, Art. 5141; 2004, No. 27, Art. 2711; No. 31, Art. 3225; 2005, No. 11, Art. 900; No. 25, Art. 2426; 2006, No. 1, Art. 5; No. 2, Art. 172; No. 17, Art. 1780; No. 31, Art. 3437; No. 43, Art. 4412; 2007, No. 1, Art. 45; No. 18, Art. 2117; No. 22, Art. 2563; No. 41, Art. 4845; No. 50, Art. 6247; 2008, No. 52, Art. 6221; 2009, No. 1, Art. 28; No. 18, Art. 2154; No. 23, Art. 2770; No. 29, Art. 3642; No. 48, Art. 5731; No. 52, Art. 6428; 2010, No. 17, Art. 1988; No. 31, Art. 4193; No. 41, Art. 5193; 2011, No. 7, Art. 905; No. 23, Art. 3262; No. 29, Art. 4291; No. 48, Art. 6728; No. 49, Art. 7040; No. 50, Art. 7357; 2012, No. 25, Art. 3269; No. 31, Art. 4334; No. 53, Art. 7607; 2013, No. 26, Art. 3207; No. 30, Art. 4043, Art. 4082, Art. 4084; No. 51, Art. 6699; No. 52, Art. 6985; 2014, No. 30, Art. 4219; 2015; No. 1, Art. 13; No. 14, Art. 2022; No. 27, Art. 4001; No. 29, Art. 4348, Art. 4357; 2016, No. 1, Art. 50, Art. 81; No. 27, of the Art. 4225) establishes requirements to rules of internal control and internal audit of repository (further - rules).

1. Rules shall contain following provisions.

1.1. The provisions determining procedure for the organization and ensuring functioning of the official (structural division) responsible for implementation of internal control of repository (further - the controller (service of internal control) of repository), and the official (structural division) responsible for implementation of internal audit of repository (further - the internal auditor (service of internal audit) of repository).

Rules may contain the provisions determining possibility of assignment of functions of the controller (service of internal control) of repository and the internal auditor (service of internal audit) of repository respectively on bodies of internal control and internal audit of the legal entities performing types of activity with which repository activities are combined.

1.2. List of tasks of internal control of repository:

ensuring efficiency and effectiveness of activities of repository;

identification and prevention of conflict of interest;

check of reliability, completeness and timeliness of provision of information from the register of agreements and agreements of records entered in the register;

prevention and prevention of violations by repository and its workers of requirements of the legislation of the Russian Federation and regulations of the Bank of Russia, and also internal documents of repository.

1.3. List of tasks of internal audit of repository:

ensuring proper level of reliability of internal control of repository;

efficiency evaluation and effectiveness of internal control of repository.

1.4. List of functions of the controller (service of internal control) of repository:

1.4.1. observance monitoring by repository and its workers of requirements of the legislation of the Russian Federation and regulations of the Bank of Russia, and also internal documents of repository;

1.4.2. identification of violations, mistakes and shortcomings of activities of repository, including by results of and its workers of requirements of the legislation of the Russian Federation and the regulations of the Bank of Russia, and also internal documents of repository performed observance by repository (further - checks), and development of offers on their elimination;

1.4.3. coordination and participation in development of package of measures of repository, directed to identification and prevention of conflict of interest;

1.4.4. development of recommendations for the solution of the tasks specified in subitem 1.2 of this Item, and representation of the specified recommendations to sole executive body of repository;

1.4.5. participation in development of the internal documents of repository determining procedure and procedures of internal control;

1.4.6. participation in consideration of the claims (addresses, statements) concerning violations by repository and its workers of requirements of the legislation of the Russian Federation and regulations of the Bank of Russia, internal documents of repository which arrived in repository and also participation in systematization of information on such claims (addresses, statements);

1.4.7. identification, monitoring and risk assessment of emergence of losses of repository as a result of non-compliance with requirements of the legislation of the Russian Federation by it and regulations of the Bank of Russia, and also internal documents of repository, application concerning repository of sanctions and (or) other corrective actions from supervisory authorities (further - regulatory risk), and also management of regulatory risk, including:

determination of measures for identification of sources of regulatory risk, evaluating their influence on financial stability of repository and possibility of continuation of rendering repository services;

carrying out on permanent basis of the analysis of compliance of rules, procedures, the agreements used by repository when implementing repository activities, to requirements of the legislation of the Russian Federation and regulations of the Bank of Russia;

determination of the measures directed to decrease in regulatory risk, and control of their accomplishment;

1.4.8. other functions of the controller (service of internal control) of repository on providing the tasks specified in subitem 1.2 of this Item.

1.5. List of functions of the internal auditor (service of internal audit) of repository:

conducting checks, including checks of activities of the controller (service of internal control) of repository;

development of recommendations for the solution of the tasks specified in subitem 1.3 of this Item, and representation of the specified recommendations to the board of directors (supervisory board) of repository.

1.6. The provisions establishing the bases, procedure for the organization, form, terms, frequency of conducting checks of the structural divisions of repository and repository in general which are carried out by the controller (service of internal control) of repository (at least once in six months) and the internal auditor (service of internal audit) of repository (at least once a year).

1.7. The list of requirements imposed to procedure, format, terms and frequency of representation by the controller (service of internal control) of repository of reports including by results of checks, and also reports on management of regulatory risk of repository to sole executive body of repository (at least once a year).

1.8. The list of requirements imposed to procedure, format, terms and frequency (at least once a year) representation by sole executive body of repository of reports on management of regulatory risk of repository to the board of directors (supervisory board) of repository.

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