On Mar. 15, RUS CB proposed ordinance on pawnshop reporting.
RUS CB proposed ordinance on amending ord 3927-U on the forms, terms, procedure for compiling and submitting to RUS CB documents containing a report on activities of a pawnshop and a report on personal composition of governing bodies of a pawnshop.
Consultation documents are only available on RUS CB website until comment deadline.
Summary
As part of RUS CB’s measures to reduce the regulatory burden on pawnshops in terms of optimizing their reporting, it is proposed to change the frequency of reporting.
Specifically on the volumes of loans issued by separate subdivisions of a pawnshop from quarterly to “event” while maintaining the annual basis for reporting information.
The requirement to provide information on loans issued by constituent entities of a pawnshop located on the territory of one constituent entity of Russia is cancelled.
The ord clarifies composition of general information about a pawnshop is specified, in particular, when a pawnshop uses cellular communications as communication.
The effect of the draft will apply to non-credit financial firms that are pawnshops.
Effectiveness
Comments and feedback are accepted by Mar. 28, 2023 and the ordinance is expected to enter into force on Jan. 1, 2025.
Mar. 2023 Ordinance Issued
On Mar. 15, 2023, RUS CB issued ord 6297-U amending ord 3927-U and enters into force on Apr. 1, 2023.
Sep. 2023 Amendments
On Sep. 25, 2023, RUS CB issued ord 6507-Yamending ord 3927-U on the forms, terms and procedure for drawing up and submitting to RUS CB documents containing a report on the activities of the pawnshop and a report on the personal composition of the governing bodies of the pawnshop; provisions come into force on Jan. 1, 2025.
Regulators
RUS CB
Entity Types
MSB
Reference
PR 9/25/2023; Ord 6507-Y, 8/14/2023; PR 3/15/2023; Ord 6297-U, 10/24/2022; CP, 12/5/2022; Ord 256-FZ, 11/30/2022; CP, 3/15/2023; Ord 3927-U, 12/30/2023;
