Federal Financial Monitoring Service (hereinafter – Rosfinmonitoring) developed a draft Order concerning disclosure of information by legal entities upon request of authorized state bodies (hereinafter – Draft order)1. The Draft order has been made public at the official website on 27 April 2017. At the moment the Draft order passes the stage regulatory impact estimation prior to entering to the Russian Government consideration..
The Draft order has been developed in the furtherance of art. 6.1. of the Federal law dated 07.08.2001 No. 115-FZ (hereinafter – 115-FZ)2, which stipulates obligation of the companies to submit upon request of authorized bodies documented information on the company’s ultimate beneficial owners as well as information regarding the measures taken in order to ascertain the information on the company’s ultimate beneficial owners (hereinafter – Information).