On Dec. 5, RUS CB proposed rules for updated accounting records.
RUS CB proposed reg on procedure for reflection in accounting records by non-state pension funds of long-term savings agreements based in IFRS 17 insurance contracts.
The regulation is designed to implement the requirements of the law 299-FZ on amending certain legislative acts of Russia entering into force on Jan. 1, 2024.
Follows RUS GVT Jul. 2023 law 299-FZ amending certain legislative acts, see #177482.
Consultation documents are only available on RUS CB website until comment deadline.
Effectiveness
The ordinance is expected to enter into force on Jan. 1, 2025 and comments and feedback are expected by Dec. 19, 2023.
Apr. 2024 Update
On Apr. 5, 2024, RUS CB issued updated draft regulation on procedure for reflection in accounting records by non-state pension funds of long-term savings agreements based in IFRS 17 insurance contracts.
Jun. 2024 Ordinance Issued
On Jun. 27, 2024, RUS CB issued regulation 838-P on procedure for reflection in accounting records by non-state pension funds of long-term savings agreements.
The reg enters into force on Jan. 1, 2025 and from the day of entry into force invalidates reg 829-P on procedure for reflection in accounting records by non-state pension funds of long-term savings agreements.
Regulators
RUS CB
Entity Types
Bank; Ins; Pension
Reference
PR 6/27/2024; Ord 838-P, 5/21/2024; PR, 4/5/2024; CP, 12/5/2023; IFRS; Rpl Ord 829-P
