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Ministry of Justice

Russian Federation

On August 2, 2017 No. 47631

INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of July 12, 2017 No. 4467-U

About the list obligatory for development by the self-regulatory organizations in the sphere of the financial market uniting insurance companies, insurance brokers, basic standards and requirements to their content and also about the list of transactions (content of types of activity) of insurance companies, insurance brokers in the financial market, standardization subjects

This Instruction based on part 2 of article 5 of the Federal Law of July 13, 2015 No. 223-FZ "About self-regulatory organizations in the sphere of the financial market" (The Russian Federation Code, 2015, No. 29, Art. 4349; 2016, No. 27, the Art. 4225) establishes the list obligatory for development by the self-regulatory organizations in the sphere of the financial market (further - self-regulatory organizations) uniting insurance companies, insurance brokers, basic standards and the requirement to their content and also the list of transactions (content of types of activity) of insurance companies, insurance brokers in the financial market, standardization subjects.

Chapter 1. The list obligatory for development by the self-regulatory organizations uniting insurance companies, insurance brokers, basic standards

1.1. The self-regulatory organizations uniting insurance companies shall develop the following basic standards:

corporate management;

internal control;

protection of the rights and interests of physical persons and legal entities - receivers of the financial services rendered by members of the self-regulatory organizations uniting insurance companies;

making of transactions in the financial market.

1.2. The self-regulatory organizations uniting insurance brokers shall develop the following basic standards:

protection of the rights and interests of physical persons and legal entities - receivers of the financial services rendered by members of self-regulatory organizations, the uniting insurance brokers;

making of transactions in the financial market.

Chapter 2. The list of transactions (content of types of activity) of insurance companies, insurance brokers in the financial market, standardization subjects

2.1. Basic standards of making of transactions in the financial market are developed according to the following list of transactions (content of types of activity) of insurance companies in the financial market, standardization subjects:

the transactions connected with the conclusion insurance companies of insurance contracts;

the transactions connected with the conclusion insurance companies of agreements of reinsurance;

settlement of requirements about insurance payment.

2.2. Basic standards of making of transactions in the financial market are developed according to the following list of transactions (content of types of activity) of insurance brokers in the financial market, standardization subjects:

the transactions connected with the conclusion (change, termination, execution) of insurance contracts (reinsurance) at the request of insurers (reinsurers) or insurance companies (the reinsurance organizations) based on the service provision agreement;

acceptance of money from insurers (reinsurers) in payment for the insurance contract (reinsurance).

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