Mobile DNB Bank in Russian. DNB Banka is the largest universal bank of Latvia. Norwegians sell "DNB Bank" owner "Binbank"

OJSC "DNB Bank" - universal Bankcarrying out all major banking operationspresented in the financial services market, including service of private and corporate clients and investment banking business. Bank offices are located in the cities of the Murmansk region - Murmansk, Monchegorsk, Polar Zorma, Operating Cassa - on the Kola NPP.

Performance performance

As of April 1, 2014, the Bank's assets of the Bank amounted to 5.9 billion rubles, capital - 1.4 billion (Ringing data Interfax). In the deposits of citizens there were 2 billion rubles.

History

2006: Rosbank sells "Montchebank" by the Norwegian DNB NOR

On January 31, 2006, a transaction of the sale and sale of shares of Montchebank OJSC between Akb "Rosbank" and the largest bank of Norway DNB NOR was completed. JSC "MONCHEBANK" became a subsidiary of the Norwegian bank.

2011: Changing the name to "DNB Bank"

On November 11, 2011, the rebranding of the financial group of the DNB Nor, she changed its name for the NDB.

In previous years, NGU developed rapidly: the Group is represented in 19 countries of the world, has several subsidiaries engaged in life insurance, leasing, other directions of financial activities (Postbanken, Vital et al.). In Russia, the NGN Group of Sciences is represented by OJSC DNB Nor Monchebank.

Until now, all these companies worked under different names. Shareholders decided that from November 11, 2011, the Group begins to work under a single name - the National Norway - and in Norway, and around the world, conducting a single strategy and marketing.

Rebranding OJSC DNB Nor Monchebank, as the subsidiary of the DNB, was held in the first quarter of 2012.

2012

Profit 80 million rubles

According to the results of 2012, the Bank's profit after paying taxes was 80 477,080 rubles. 45 cop. Shareholders decided not to pay dividends on bank shares over the past 2012, and leave retained profit At the disposal of the bank.

The annual meeting of shareholders of DNB Bank has chosen the Board of Directors of the Bank in the following composition:

Aryld Fredriksen,
Yang Steinar Rognlid,
Elina Skramstad,
Syndros Noss,
Morten Stewver
Terry Terrnes.

An Audit Company Ernst & Young was approved by the Bank's auditor for 2013.

The annual meeting of the Bank's shareholders allowed "DNB Bank" to enter into a non-profit partnership "Murmansk Guild of Realtors".

63 place in terms of mortgage loans

According to RBC agency rating, OJSC "DNB Bank" on 01/01/2013. ranked 63rd among all Russian banks in terms of issued mortgage loans In 2012 (659.8 million rubles.). It is 86.6% more than in the previous year.

According to the data of the same agency, the number of active bank cards in circulation to 01/01/2013. amounted to 14,784 pcs. According to this indicator, the bank took 89th place in the Russian Federation. As of June 1, 2013, 896 commercial banks operate in Russia.

2013: Assets 6 billion rubles (+ 16%)

According to the results of 2013, the Bank's assets of the Bank exceeded 6 billion rubles, an increase of 16%. The increase in the retail loan portfolio was more than 32%, urgent deposits of individuals increased by 58%. DNB Bank has a stable database of retail and corporate clients. Cost / Income (to reserves) at the end of 2013 was at the level of 60%.

2014: Norwegians sell "DNB Bank" owner "Binbank"

In April 2014, it became known that Asokerco Trading Limited, the beneficiary of which Mikail Shishkhanov, the main shareholder of Binbank, buys 100% of the shares of OJSC DNB Bank, located in Murmansk. At the time of the transaction by the owner of the bank is Norwegian financial Group DNB NOR GROUP. Terms of the transaction are not disclosed.

- This acquisition is aimed at expanding the regional presence of BINBANK - this is the optimal and most effective way to enter the Murmansk region market, allowing you to get a simultaneously loyal client base and stable profitable business- Mikail Shishkhanov notes. - DNB Bank, which has seven branches, is self-sufficient to continue working in its region and at the same time it is capable of generating a positive financial result.

As explained to Izvestia in Binbank, the parties intend to close the transaction over the next 4 months.

The Bank was founded in December 1990 on the basis of the Monchegorsk branch of Promstroybank (Murmansk region). Its founders were RAO "Norilsk Nickel", "Sevonikel", "Kolstroj", etc. In August 1995, it was transformed from a partnership to a limited liability company, and in September next year he received a general banking license. Since 2002, functions in the form of open joint Stock Company. In early 2006, the Moncheckank's control stake, which belonged to the Rosbank at that time, was acquired by the Norwegian DNB Nor Bank *. For 97.3% of shares, the Norwegians paid about $ 21 million (capital coefficient was 2.2).

In July 2008, the Norwegian financial group DNB NOR GROUP has become the owner of 100% of the shares, buying out the share of minority. With the advent of the new shareholder, Montchebank changed its name at JSC " Commercial Bank "DNB NOR MONCHebank." In March 2012, the name of the credit institution was reduced to OJSC DNB Bank. At the end of April 2014, it became known that the structure of Michael Shishkhanov (Asokerco Trading Limited, whose beneficiary is Shishkhanov) will be the acquirer of 100% of the shares of the credit institution. According to Shishhanov, this transaction is aimed at expanding the regional presence of Binbank, which will allow to embrace the Murmansk region. Terms of the transaction are not disclosed.

Currently, 100% of the bank's shares are owned by Asokerco Trading Limited, the final beneficiary of which is the main shareholder of PJSC BINBANK Mikail Shishkhanov.

The bank's head office is located in Murmansk. In addition to him, the financial institution has three additional offices, four operating offices and one operating cash desk outside the cash node. The number of employees of the bank was 132 people (according to the interim reports under RAS for the 3rd quarter of 2015). The own network of financial institution ATMs includes 30 ATMs. In addition, bank card owners can withdraw cash without commission in all ATMs included in the combined settlement system.

The main major customers of the bank are: OJSC "Flowers of the Polaria", PJSC "Murmanskavtotrans", OJSC Murmanskpromstroy, OJSC OJSC "OJSC", OJSC "Central-Kola Expedition", OJSC "Electron", PJSC "Murmansk trawl fleet", OJSC "Murmanskaya Shipping Company", JSC "Monchegorsky Mechanical Plant", OJSC "Murmansk Rybobobombat", OJSC "Sevzapstandstrukti".

The Bank provides legal entities with the following set of products and services: Client-Bank, settlement and cash services, lending, documentary operations, bank cards, investment and accumulation, currency transactions. Individuals, the Bank offers lending, deposits, bank cards, insurance, suggestions for salary projects, VIP service, money transfers ("Golden Crown", Western Union), currency exchange, safe cells, Payment of Checks Tax Free, Investments (in securities and currency). In 2014, the credit institution refused to sell low-income credit products individualsThe moratorium on the issuance of mortgage and car loans was introduced.

For the period from the beginning of 2015, the net assets of the credit institution slightly decreased by 3.24% (or 0.2 billion rubles) and as of January 1, 2016 amounted to 7.3 billion rubles. In the passive part of the balance, the main reason for the reduction of the balance currency was a complete refusal of a credit institution from attracting funds to the MBC market, as well as partial repayment of the scope of their own issued bills (-61.9%). At the same time, the bank tried to compensate for the outflow by attracting an additional amount of client funds (mainly deposits of individuals). In the active part of the balance, there was a reduction in the total credit portfolio (-34.87%), as well as the sale of the entire pool of securities, while the credit institution demonstrated an increase in investment of funds in highly liquid assets more than twice.

The structure of liabilities is weakly diversified. The main source of funding of the credit institution is the contributions of individuals, whose share since the beginning of 2015 increased significantly and on January 1, 2016 amounted to 46.72% (at the beginning of 2015 - 31.62%). Also a significant share in the structure of liabilities occupy own funds A credit organization and funds of enterprises and organizations whose share at the reporting date was 23.00% and 19.73%, respectively. The credit organization's own capital has grown by 12.41% since the beginning of 2015, or 186 million rubles. The main source of capital growth was the profit received in 2015.Financial institution does not attract additional sources of financing in the form of subordinated deposits and loans. The bank has an average size, but a fairly active and stable client base with turnover on customer accounts of 4.6-6.1 billion rubles per month. Dependence on personal facilities is estimated as high.

The main part of the net assets falls on highly liquid assets (56.21%), which is not entirely typical for the regional credit organization. Another 37.95% and 1.5% occupy credit portfolio and fixed assets, respectively. The share of investments in the MBC is minimal. At the reporting date, the Bank does not have investments in the securities portfolio.

For the period under review, the loan portfolio, 57.25% formed by retail loans, decreased by 34.87% or 1.5 billion rubles in absolute terms, amounting to 2.8 billion rubles as of January 1, 2016. At the same time, for the analyzed period, the Bank reduced the proportion of corporate lending. The loan portfolio is predominantly long-term, the share of loans issued for a period of more than 1 year is 82.64%. According to the data annual reporting For 2015, the main share of corporate loans accounted for the following sectors of the economy: manufacturing manufacturing (36.2%), transport and communications (19.5%), geological exploration (18.4%). Among retail loans are prevailing housing mortgage loans (about 70%). The level of overdue debt as of January 1, 2016 amounted to 8.92% (at the beginning of 2015 - 4.75%). The reservation level of the portfolio is at 21.76% (at the beginning of the period - 12.97%), which is indirectly due to the fact that the loan portfolio is provided with the pledge of property by only 48.57% (in the amount of 1.4 billion rubles).

During the period under review, the investment of the credit institution in highly liquid assets increased by 117.8% (or 2.2 billion rubles), amounting to 4.1 billion rubles as of January 1, 2016. NOSTRO accounts account for about 86.9% (mainly in resident banks) highly liquid assets, the rest falls on cash at the checkout and remnants of correspondent accounts in the Central Bank of the Russian Federation. During 2015, the Bank significantly reduced activity in the MBC market, completely abandoning the attraction of resources through this tool, sometimes small liquidity volumes. At the same time, the bank is quite active on forex market. Turns on conversion operations at the reporting date amounted to about 2 billion rubles.

At the end of 2014, the Bank received a profit of 136.6 million rubles (in 2013, a similar indicator was 70 million rubles), and at the end of 2015 the bank earned 199.4 million rubles.

Board of Directors: Alexey Farafontes (Chairman), Konstantin Kalagin, Igor Belykh, Alexey Calikin, Olga Prokopova, Victor Shilov.

Governing body: Dmitry Philippov (and. About. Chairman), Svetlana Voronina, Yuri Sazonov.

* DNB NOR GROUP was created in 2003 by merging the two largest financial concerns of Norway - DNB and Gjensidige NOR ASA. The state through the Ministry of Commerce and Industry of Norway owns 34% of the share capital of DNB NOR GROUP BANK. SPAREBANKSTIFTELSEN DNB NOR specialized investment fund belongs to 10.03%, private foreign and Norwegian shareholders - the remaining 64% stake. DNB NOR is the largest financial service group in Norway with general assets exceeding 200 billion dollars. The group includes well-known brands DNB NOR, VITAL, KAPITAL and SKADE. At the moment, the financial group is included in the top 500 largest companies in the world, has 2.3 million private and more than 200 thousand corporate clients. The number of employees of the group - more than 13 thousand people.

Alexander Kudryavtsev, banking analyst

The Bank was founded in December 1990 on the basis of the Monchegorsk branch of Promstroybank (Murmansk region). Its founders were RAO "Norilsk Nickel", "Sevonikel", "Kolstroj", etc. In August 1995, it was transformed from a partnership to a limited liability company, and in September next year he received a general banking license. Since 2002, it has been operating in the form of an open joint stock company. In early 2006, the Moncheckank's control stake, which belonged to the Rosbank at that time, was acquired by the Norwegian DNB Nor Bank *. For 97.3% of shares, the Norwegians paid about $ 21 million (capital coefficient was 2.2).

In July 2008, the Norwegian financial group DNB NOR GROUP has become the owner of 100% of the shares, buying out the share of minority. With the arrival of the new shareholder, Montchebank changed its name at OJSC Commercial Bank of the DNB Nor Moncebank. In March 2012, the name of the credit institution was reduced to OJSC DNB Bank. At the end of April 2014, it became known that the structure of Michael Shishkhanov (Asokerco Trading Limited, whose beneficiary is Shishkhanov) will be the acquirer of 100% of the shares of the credit institution. According to Shishhanov, this transaction is aimed at expanding the regional presence of Binbank, which will allow to embrace the Murmansk region. Terms of the transaction are not disclosed.

Currently, 100% of the bank's shares are owned by Asokerco Trading Limited, the final beneficiary of which is the main shareholder of PJSC BINBANK Mikail Shishkhanov.

The Bank provides legal entities with the following set of products and services: client-bank, settlement and cash services, lending, documentary operations, bank cards, investment and accumulation, currency transactions. Individuals Bank offers lending, deposits, bank cards, insurance, offers for salary projects, VIP service, remittances ("Golden Crown", Western Union), currency exchange, safe cells, payment checks Tax Free, investment (in securities and currency). In 2014, the credit institution refused to sell low-income loan products to individuals, a moratorium on the issuance of mortgage and car loans was introduced.

The structure of liabilities is weakly diversified. The main source of funding of the credit institution is the contributions of individuals, whose share since the beginning of 2015 increased significantly and on January 1, 2016 amounted to 46.72% (at the beginning of 2015 - 31.62%). Also a significant share in the structure of liabilities occupy their own funds of the credit institution and the funds of enterprises and organizations, whose share at the reporting date was 23.00% and 19.73%, respectively. The credit organization's own capital has grown by 12.41% since the beginning of 2015, or 186 million rubles. The main source of capital growth was the profit received in 2015.Financial institution does not attract additional sources of financing in the form of subordinated deposits and loans. The bank has an average size, but a fairly active and stable client base with turnover on customer accounts of 4.6-6.1 billion rubles per month. Dependence on personal facilities is estimated as high.

The main part of the net assets falls on highly liquid assets (56.21%), which is not entirely typical for the regional credit organization. Another 37.95% and 1.5% occupy loan portfolio and fixed assets, respectively. The share of investments in the MBC is minimal. At the reporting date, the Bank does not have investments in the securities portfolio.

For the period under review, the loan portfolio, 57.25% formed by retail loans, decreased by 34.87% or 1.5 billion rubles in absolute terms, amounting to 2.8 billion rubles as of January 1, 2016. At the same time, for the analyzed period, the Bank reduced the proportion of corporate lending. The loan portfolio is predominantly long-term, the share of loans issued for a period of more than 1 year is 82.64%. According to the annual reporting of 2015, the main share of corporate loans accounted for the following sectors of the economy: manufacturing production (36.2%), transport and communication (19.5%), exploration (18.4%). Among retail loans are prevailing housing mortgage loans (about 70%). The level of overdue debt as of January 1, 2016 amounted to 8.92% (at the beginning of 2015 - 4.75%). The reservation level of the portfolio is at 21.76% (at the beginning of the period - 12.97%), which is indirectly due to the fact that the loan portfolio is provided with the pledge of property by only 48.57% (in the amount of 1.4 billion rubles).

During the period under review, the investment of the credit institution in highly liquid assets increased by 117.8% (or 2.2 billion rubles), amounting to 4.1 billion rubles as of January 1, 2016. The share of NOSTRO accounts accounts for about 86.9% (mainly in resident banks) of highly liquid assets, the rest falls on cash at the checkout and remnants of correspondent accounts in the Central Bank of the Russian Federation. During 2015, the Bank significantly reduced activity in the MBC market, completely abandoning the attraction of resources through this tool, sometimes small liquidity volumes. At the same time, the bank is quite active in the Forex market. Turns on conversion operations at the reporting date amounted to about 2 billion rubles.

At the end of 2014, the Bank received a profit of 136.6 million rubles (in 2013, a similar indicator was 70 million rubles), and at the end of 2015 the bank earned 199.4 million rubles.

Board of Directors: Alexey Farafontes (Chairman), Konstantin Kalagin, Igor Belykh, Alexey Calikin, Olga Prokopova, Victor Shilov.

Governing body: Dmitry Philippov (and. About. Chairman), Svetlana Voronina, Yuri Sazonov.

Alexander Kudryavtsev, banking analyst

× May 13, 2015 The State Duma of the Russian Federation adopted in the first reading the draft law No. 754388-6 "On the voluntary declaration by individuals of property and accounts (deposits) in banks", followed by the name of the "Affect of Capital Amnesty". The bill contains norms for voluntary property declaration and accounts (deposits) in banks. The emergence of this draft law is associated with the message of the President of the Russian Federation by the Federal Assembly and paragraph 12 of the list of orders for the implementation of the Presidential Message by the Federal Assembly, according to which a single liberation of Russian persons from tax and criminal liability must be granted under the condition "the return of these persons to the Russian jurisdiction Foreign jurisdictions without paying relevant taxes of revenues received from sources in the Russian Federation. However, despite the rapid adoption of the draft law in the first reading, this document is the subject of discussion on the part of the GD profile committees and generates a number of complaints and legal issues. In general, they converge that the bill requires some refinement to the second reading. In particular, legal management draws attention to the fact that relations regulated by Article 6 of the bill and described in its other articles, from a legal point of view, are another attempt to introduce such an institution of property management in the domestic legislation, as trustful property (trust), characteristic of states The Anglo Saxon Law System (England, USA, Hong Kong, Cyprus and other "offshore" jurisdictions). This institute has little common with the Russian Institute for Trust Management Property, which appeared after the unsuccessful experience of introducing a trust in the domestic right in the early 90s of the last century. In his conclusion, the Committee recalls that "the parties of these relations are not called the" nominal owner "and" actual owner ", but the founder, the confidence owner, the beneficiary, the protector (sometimes). The legal status of the owner of the property is not established by the adjective "nominal", "actual". In general, attempts to introduce such legal structures of the Anglo-Saxon system to the domestic right, belonging to the continental system of law, are divided into a fundamentally different approach of two systems to the right of ownership, in particular, on the "duality" of property rights, invalid from the point of view of continental Systems. By the way, it should be noted that the Institute of Trust itself was formed under the influence of not common law, but the so-called justice rights, based on centuries-old English judicial practice and preceded by some decisions made. Another one an important point To which, in turn, pays attention to the GD Committee on the Financial Market, is that "Article 4 of the draft law indicates the guarantee of unacceptable for criminal and administrative responsibility of persons voluntarily declared property. However, the draft law clearly does not define the circle of criminal acts and offenses, from responsibility for which the declarant will be released. According to the Committee, in order to prevent cases of arbitrary interpretation by the law enforcement of grounds for attracting a declarant (or its release) from criminal or administrative responsibility, the Committee considers it appropriate to establish an exhaustive list of Articles of the Criminal Code and the Code of Administrative Offenses of the Russian Federation, for which declarants are exempt from criminal and administrative responsibility. " It should be noted that the public chamber of the Russian Federation and the responsible Committee of the State Duma in budget and taxes adheres to a similar opinion. Such a list will most likely appear to the second reading. Taking into account the close interaction of legislators with representatives of the FATF Group, it can be assumed that the provisions of the law will not extend to the offenses related to fraudulent actions. It should be noted that the bill already contains special provisions that it does not affect in any way, does not limit and does not provide for any exceptions regarding the obligations of the Russian Federation provided for by international treaties of the Russian Federation, including obligations in the field of countering criminal income and terrorist financing. This is an important point, since for non-compliance with such provisions, Russia risks to get into the Black List of Fatf, in which she has already managed to visit 2000. Also in the bill, the circle of persons entitled to act as declarant is clearly not defined. The GD Committee on the Financial Market draws attention to the fact that "Reading Part 1 of Article 3 of the draft law gives a certain idea that the declarant can act as the nominal and the actual property owner. A number of other provisions of the draft law provides for only the indirect participation of the nominal owner in declaration, often solely with the simultaneous participation of the actual owner in the declaration procedure. Thus, according to the Committee, it is necessary as part of the preparation of the draft law to the second reading "to work in detail the features of the procedure for declaring property and participation in it in it, as well as issues of concluding and complying with the agreement on the transfer of property, since such aspects as an agreement and the subsequent transfer of property Without a counter-granting, loss of guarantees by both parties in the event of unfair actions, one of the parties create levers and prerequisites for abuse of law, including unlawful actions against owners using the Institute of Actual and Nominal Owners. " Such a development of events is very likely to consider that in the 1990s the construction of trust property (trust) was often used for questionable operations to derive state property. In addition, according to the GD Committee on the Financial Market, the draft law has provisions related to the mechanism for obtaining guarantees, which will not explicitly contribute to voluntary declaration of property from offshore. The provisions of Article 7, which contributes to the provision of guarantees by the fact of repatriation of offshore property, are ambiguous. The Committee points out that "Articles 4 and 7 of the Project are determined that only the repatriation and declaration of property (in the aggregate) allow us to obtain guarantees on the program, but provided that a criminal case has been established for the Declaration on the date of submission of the Declaration or in relation to property to be declared, the tax audit is not carried out. As a result, the submission of the declaration without repatriation of property from the offshore is actually deprived of meaning, since it is necessary to repatriate property before the declaration. At the same time, during the repatriation of property and submission of the declaration, the declarant does not seem any temporary guarantees that the declarant or its repatriate property, for example, will not immediately be checked, which, in turn, leads all guarantees provided for in Article 4. " Taking into account the above, it should be noted that despite the support of the GD Committees and the adoption of the first reading committees, this bill still leaves more questions than gives any answers to how the state intends to "amnesty" offshore capital of its citizens.

× It is expected that a predicted widespread increase in the volume of investment in alternative assets will provide the Norman Islands - Guernsey, Jersey and Alderney - significant preferences are already in the very near future. The appropriate forecast in terms of an increase in alternative investment volumes was given within the framework of the report of the PWC company "Alternative Asset Management In 2020: Fast Forward to Centre Stage" (management of alternative investments in 2020: jerk to leaders). According to the report, investments in alternative investments can grow twice and by 2020 to reach 15.3 trillion US dollars, if the high return of capital markets will continue its sustainable flow against the background of a conducive monetary policy and stable growth in the region's GDP. By 2020, PWC predicts a fundamental increase in the volume of alternative investment by public and private pension funds. So, by 2020, the relevant world assets of pension funds will reach 56.6 trillion US dollars, alternative assets in their composition will play a much wider role. PWC expects the alternative investment management funds to turn to niches traditionally occupied by banks, i.e. to borrowing, securitization and financing. Others embark on the conclusion of partnership agreements with banks and the largest institutional investors, providing the latest services to conduct an integrated examination in terms of managing new assets and lining the differentiated products.

× 12/01/2009 Changes in legislation - Singapore, Jersey Singapore Minister labor resources Based on the powers provided by Section 7 (8) of the Central Provident Fund Act, published the following notification: Central Provident Fund Act (Amendment of First Schedule) Notification 2009 through this notice is reported to introduce minor technical amendments to the text of the first Annexes to the Law on the Central Security Fund. Document Type - Notification Document number - S 581/2009 Date of adoption - November 10, 2009 Date of entry into force - On December 1, 2009, the body adopting a document - Minister of Labor Resources Printdition, published document - Singapore Law Watch *** Finance Minister for The basis of the authority provided by Section 13 (1) of the Law on accounting standards (Accounting Standards ACT), issued the following order: Accounting Standards Act (Amendment of Schedule) Order 2009 through this order to the text of the annex to the law on accounting standards are minor technical amendments. Document type - Notification Document number - S 587/2009 Date of adoption - November 25, 2009 Date of entry into force - December 1, 2009 Body adopted document - Minister of Finance Printing publication published document - Singapore Law Watch Jersey Jersey States on the basis of authority Articles 2 (1) of the Taxation Act (IMPLEMENTATION) (Jersey) of Law 2004), as well as paragraph 1.8.5 of the Strategic Plan 2006-2011 (Strategic Plan 2006 to 2011), approved by the States on 27 June 2006, issued the following ruling: Taxation (Amendment No. 4) (Jersey) Regulations 2009 through this Resolution, technical amendments are made to the text of the application to the tax decision (information exchange With third countries) (Jersey) from 2008 (Taxation (Jersey) Regulations 2008). Document Type - Resolution Document Number - R & O.118 / 2009 Date of adoption - November 18, 2009 Date of entry into force - November 18, 2009 The body adopting a document - Jersey States Print Edition, published document - Jersey Legal Information Board *** Jersey States Based on the powers provided by Article 36 (2) of the Law on Income Received by Crime (Jersey) from 1999 (Proceeds of Crime (Jersey) LAW 1999), published the following resolution: Proceeds of Crime (Amendment of Schedule 2) (No. 2) (Jersey) Regulations 2009 through this Resolution are a technical amendments to the text A of Annex 2 to the Law on the income received by Criminal Path (Jersey) from 1999. Document Type - RESOLUTION Document number - R & O.1199 / 2009 Date of adoption - November 18, 2009 Date of entry into force - November 25, 2009 Body adopting a document - Jersey States Printing published document - Jersey Legal Information Board *** Jersey States Based on the powers provided by Articles 11 (4) and 44 (2) of the income of the income received by criminal, (Supervisory Bodies) (Jersey) (Jersey) (Jersey) (Jersey), issued the following decision : Proceeds of CRIME (Amendment of LAW) (No. 2) (Jersey) Regulations 2009 through this resolution, technical amendments are made to the text of the annex to the Law on the income received by criminal road (supervisory authorities) (Jersey) from 2008. Document Type - Resolution Document number - R & O.120 / 2009 Date of adoption - November 18, 2009 Date of entry into force - On November 25, 2009, the body adopting a document - Jersey States Print Edition, published document - Jersey Legal Information Board

× According to the statement of the Ministry of Finance Denmark, the tax authorities of the country last year adopted a number of indigenous, successfully implemented measures to counter fraudulent actions in the field of taxation. According to the ministry, the damage from fraudulent actions - according to estimates of tax authorities - amounted to about 40 million euros, while 160 such cases are still investigated: the damage projected from them is approximately similar to the named figure. The Cabinet of Ministers of Denmark, within the framework of the incessant activities to counteract tax evasion, planned the implementation of a number of new measures. These measures include plans for overlaying from next year to repeated disorders of 150% of total amount Violations, as well as the blocking of profits in the case of miscellaration by the individual to the tax inspectors of the details regarding the receipt of profit from abroad.

× After the third reading in the State Duma, the draft law "On Amendments to tax code Russian Federation in order to increase responsibility tax agents For non-compliance with the requirements of legislation on taxes and fees, "received for consideration in the Federation Council. Project federal Law It was developed in accordance with the instructions of the Government of the Russian Federation of January 29, 2014 No. Ish-P13-586. Deputy Minister of Finance of the Russian Federation Sergey Dmitrievich Shatalov appointed official representative of the Government of the Russian Federation when considering the chambers of the Federal Assembly of the Russian Federation of this draft law. The authors of the bill in the accompanying note indicate that at present the problem of untimely and incomplete retention and transfer tax agents in the budget system of the Russian Federation has considected significantly, as a result of which the budgets of the constituent entities of the Russian Federation bear significant losses, which does not allow to solve the socio-economic problems of the Russian Federation and Subjects of the Russian Federation. Thus, only for 2013, more than 20 thousand on-site tax audits were held by the tax authorities and more than 15 thousand violations of the timing of the tax agents of the tax agents of individuals were established. According to the results of the inspections, more than 30 billion rubles of tax revenues were charged. The purpose of the bill is "improving tax administration and increasing the responsibility of tax agents for non-compliance with the requirements of the law on taxes and fees." To solve the problems described, the authors of the bill offer the adoption of the following measures: the establishment of the obligation of tax agents on the quarterly submission to the tax authority to calculate the amount of tax on the income of individuals, calculated and kept by the tax agent. The lack of currently in the tax authorities of information on the amounts of interest among the tax agent on the income tax does not contribute to the full assembly of its assembly. The presentation of tax agents of calculations of the amounts of tax on the income of individuals, calculated and held by the tax agent, will allow the tax authorities to operate cameral tax audits The correctness of the calculation and retention of tax agents on the income of individuals and in case of detection of violations to bring them responsibility. The introduction of the responsibility of tax agents in the form of a fine in the amount of 1000 rubles for failure to submit (untimely presentation) to the tax authority of calculating the amount of tax on the income of individuals, calculated and kept by the tax agent. Suspension of tax agent operations on his accounts in the bank and translations of its electronic money In case of failure to calculate the amount of tax on the income of individuals, calculated and kept in the tax agent into the tax authority within 10 days after the established period of submission of such a calculation. Establishment of responsibility for the presentation of tax agents into the tax authority of inaccurate calculations of the amounts of tax on the income of individuals, calculated and held by the tax agent and (or) information about the income of individuals of the existed tax period and the amounts of calculated, the taxes required and listed in the budget system of the Russian Federation For implementation tax control, in the form of a fine of 500 rubles for each submitted document containing unreliable information. In addition, the bill clarifies the terms of calculation, retention and transfer amounts of tax in the budget system of the Russian Federation. As a measure aimed at supporting conscientious tax agents, as well as in order to implement item 1.9 of the Plan of Events (" road card ")" Improvement of tax administration ", approved on November 14, 2013. The Supervisory Board of the Agency for Strategic Initiatives is also proposed to establish a single period of transfer to the budget system of the Russian Federation to the tax agent-employer amounts to the tax on the income tax on payments to their employees of social benefits and vacations - no later than the last number of the month, in which such payments were carried out. Preparation of calculation of the amounts of tax on the income of individuals, calculated and retained by the tax agent, does not require any additional accounting from the tax agent, since the entire tax accounting register registers and can be carried out automatically. Thus, the proposed measures to introduce for tax agents of the new responsibility for the quarterly presentation of the calculation of the income tax on the income of individuals, calculated and held by the tax agent, and the establishment of a single period of transfer to the budget system of the Russian Federation by tax agents of the amount of taxed tax on payments to their social workers The benefits and holidays are generally balanced and should not lead to the deterioration of indicators in the ranking of the Russian Federation. According to the authors of the draft law, the implementation of the proposed measures will increase the effectiveness of tax administration and their collapse, and will also significantly increase the amount of tax income on the income of individuals into budgets of the constituent entities of the Russian Federation and local budgets. The State Duma Committee on Budget and Taxes, in general, supports the position of the authors of the draft law. According to the results of the review of the draft federal law, the Committee notes the following. At the same time, the lack of actual information about the accrued incomes, calculated and retained amounts of tax prevents the timely identification of unscrupulous tax agents. In order to strengthen the tax control regarding tax agents, the bill is invited to establish a responsibility for the quarterly presentation of the amount of tax on the income of individuals, calculated and retained by the tax agent. The Committee also notes that the draft law is the amount of a fine for submitting tax agents into tax authorities of unreliable information about the income of individuals of the existed tax period and the amounts of the estimated, tested and listed in the budget system of the Russian Federation of taxes (500 rubles for each submitted document containing unreliable information) It does not relate to the established current version 1 of Article 126 of the Code, the amount of the fine for failure to provide the tax agent in the tax agent in the tax authorities and (or) other information provided for by the Code (200 rubles for each unintended document). The information received will allow the tax authorities to increase the efficiency of tax control, to quickly hold cameral tax audits of the correctness of the calculation and retention of tax agents on the income of individuals, which will lead to an increase in the collection of this tax. At the same time, the draft law described above provides changes aimed at supporting conscientious tax agents by reducing their labor costs to implement the functions of transferring individuals in the budget system of the Russian Federation with respect to payments to their employees for temporary disability and pay for vacations. In particular, it is proposed to establish a single period of transfer to the budget system of the Russian Federation by the tax agent-employer of the amount of tax revenues of individuals in relation to these payments - no later than the last number of the month in which such payments were carried out. Considering that the measures proposed by the bill should contribute to improving the completeness and timeliness of the deduction and transfer of taxes in the budget system of the Russian Federation, the Committee recommended that the State Duma accept it in the first reading.

× The Government of Jersey reported on the start of public advice on the issue of regulating such virtual currencies as Bitcoin. The government intends to create a working environment friendly for business, which would support innovation, increased the number of jobs and accelerated the growth of the financial services sector and the development of digital infrastructure. According to the government, virtual currency systems may be fundamental components in the process of building a modern digital economy, and the introduction of an appropriate proportionate regulatory regime in the Anna sphere will increase confidence in it and send it to an innovative development path. Announced consulting document as an object of discussion puts forward the most significant risks in terms of money laundering and financing terrorism related to virtual currencies, and the tools that are most suitable for their regulation. Methods successfully used by other jurisdictions are also taken into account.

× 11/17/2009 Changes in legislation - United Kingdom United Kingdom Minister for Entrepreneurship and Regulatory Reforms Based on the authority provided by Sections 54 (1) (C), 56 (1) (A), 1193 (1) (C), 1195 (1) (a) and 1292 (1) of the Law on Companies from 2006 (Companies ACT 2006) and sections 54 (1) (c) and 56 (1) (a) and 1292 (1) of the Law on Companies from 2006 With regard to comdant partnerships under provisions 8 and 81 of decision-making partnerships (the application of the Law on Companies of 2006) from 2009 (LIMITED Liability Act 2006) (SI 2009/1804), published the following resolution : The Company, Limited Liability Partnership and Business Names (Public Authorities) Regulations 2009 within sections 54 (1) (C) and 1193 (1) (c) of the 2006 Act of the Company from 2006, the person needs to ensure the permission of the Minister of Entrepreneurship and Regulatory reforms in order to register name I am a company or the implementation of entrepreneurial activities in the territory of the United Kingdom under the name, which would characterize the company or entrepreneurial activities as associated with the authority of state power. In column (1) of the annex to the present decree, state authorities defined in the above-mentioned goals of the Minister of Entrepreneurship and Regulatory Reforms are prescribed. Document Type - Resolution Document Number - 2009 No. 2982 Date of adoption - November 10, 2009 Date of entry into force - On November 10, 2009, the body adopting a document - Minister for Entrepreneurship and Regulatory Reforms Print Edition, published document - Office of Public Sector Information * ** Minister of Entrepreneurship and Regulatory Reforms Based on the authority provided by Section 15 and 17 of the Current Association Actors (LIMIBILITY Partnerships ACT 2000), published the following Resolution: Limited Liability Partnerships (Amendment) (No. 2) Regulations 2009 This resolution makes amendments to the general rules for the application of Section 54 of the Law on Companies of 2006 in relation to the comdant partnerships. The above section of the law was previously applied to comdatory partnerships through the provision of 8 decisions on comdant partnerships (the application of the Law on Companies of 2006) from 2009, establishing restrictions on registered names of commercial partnerships indicating the relationship of such partnerships with state authorities. Article 9 Order of the Wales Government from 2006 (Government of Wales Act 2006 (CONSEQUENTIAL Modifications, Transitional Provisions and Saving) Order 2009 (SI 2009/2958)) amended Section 54 (1) (a) of the 2006 Law Regarding companies in order to reflect references to the Wales National Assembly. This resolution is expanding the action of the above-mentioned amendments to comdant partnerships. Document Type - Resolution Document Number - 2009 No. 2995 Date of adoption - November 11, 2009 Date of entry into force - December 14, 2009 The body adopting a document - Minister for Entrepreneurship and Regulatory Reforms Printing Edition, published document - Office of Public Sector Information * ** Treasury on the basis of the authority provided by Section 263 (1) and (3) of the Law on banking activities From 2009 (Banking Act 2009), published the following order: Banking Act 2009 (ComMencement No. 4) Order 2009 This order is introduced into force by a number of different provisions of the Bank's Banking Act. Thus, Article 3 establishes that part 6 of the Law (sections from 207 to 227) enters into force on November 23, 2009, part 6 of the law abolishes existing provisions on the permission of the issue of banknotes in Scotland and Northern Ireland, and also replaces provisions for banks owned by permission to issue banknotes. Article 4 establishes that the remaining provisions of Part 5 of the Law (the Interbank System of the Payment) come into force on December 31, 2009, part 5 of the law contains provisions for a new regulatory regime for the implementation of the Bank of England to Navigation for Interbank payment systemdefined by the Treasury as recognized under Section 184 (1) of the Law of the System. Document Type - Order Document number - 2009 No. 3000 (C. 129) Date of adoption - November 11, 2009 Date of entry into force - November 11, 2009 The body adopting a document - Treasury Printing publishing document - Office of Public Sector Information ** * Treasury based on the powers provided by Section 41 (1) and 42 of the Law on state budget From 2008 (Finance Act 2008), published the following Resolution: Offshore Funds (TAX) Regulations 2009 Sections 41 and 42 of the State Budget Act from 2008 (p. 9), (adjusted and supplemented by the provisions of Part 1 of Annex 22 to the State Law on State budget from 2009 (p. 10) contains provisions regarding tax regime participants of offshore funds. Section 41 (1) of the Law Budget Act from 2008 establishes that the Treasury through the Resolutions is entitled to establish provisions regarding the regime of participants of the Offshore Fund for the use of various provisions regarding income tax. Section 42 (3) of the above law provides that previous regulatory acts regarding the Offshore Funds (chapter 5 of Part 17 of the Income and Corporation Taxes of 1988 (Income and Corporation Taxes Act 1988 (p. 1)) can be abolished. Present The position contains the corresponding to the entire above position. Type of document - Decree of the document number - 2009 No. 3001 Date of adoption - November 12, 2009 Date of entry into force - December 1, 2009 Body adopting a document - Treasury Print edition, published document - Office of Public Sector Information *** The Office of Her Majesty for Tax and Customs Researments Based on the powers provided by Section 129 (4) and (5) of the State Budget Act from 2008, published the following order: Finance Act 2008, Section 128 and Part 2 of Schedule 43 ( Appointed Day, Transitional Provision and Savings) Order 2009 This Order Sets the date on November 23, 2009 as the Date The singing by virtue of section 128 and part 2 of Annex 43 to the law on the state budget from 2008. Document Type - Order Document number - 2009 No. 3024 (C. 131) Date of adoption - November 9, 2009 Date of entry into force - On November 9, 2009, the body adopting a document - the management of its Majesty for Tax and Customs Details Printing published document - Office of Public Sector Information *** Financial Services Management (FSA) Announces changes made to some FSA Handbook Manual Tools (Overview for October 2009): Handbook Notice, 94 Among other things, the changes were made to the manual through the following tools (application "A" to the notification): Expanding the meaning of the term "EEA Authorised Payment Institution" (FOS 2009/5, FSA 2009/57); extended t. n. "Basel I Capital Floors" for the period from 2009 (FSA 2009/58); excluding some types of investment firms from major credit risks regime since 2011 (FSA 2009/59); Modernizing requirements for the basic equity capital of insurers in order to meet the latest amendments in a number of requirements of European directives and technical amendments to determine equity and reserves of insurance premiums (FSA 2009/60); Corrective Requirements for Own Capital and Risk Insurance Rules for Investment Firms (FSA 2009/62). Document Type - Notification Document number - 94 Date of adoption - November 5, 2009 Date of entry into force - November 6, 2009 The body adopting a document - Financial Services Office Printing published document - UK FSA Official WebSite

× Custodial storage and monitoring of government debt securities within the client service were initiated by the Central Registry Agency (Central Registry Agency) in accordance with the decision of the Commission on the Capital Markets Board of the Turkish Republic. Earlier, the process of storage and supervision of government securities was assigned to central bank Countries, essentially, the central depository of debt instruments issued by the republic. In the framework of the system being operating, each of the members of intermediary institutions from among banks and brokerage firms - had its own separate account; Nevertheless, despite the system introduced by the Agency, customer assets were kept on the score with various pools without the possibility of their further segregation (for example, in the subaccount structure) at the investor-client level. Further segregation of customer funds was reflected in the accounting books of the relevant member. The new system provides greater comfort to investors in relation to cases of non-payments of participating banks or brokerage firms. Debt securities are segregated by their assets of intermediary institutions, thereby further can not be included in the assets of bankrupt agencies, thus warning the problems with which investors faced in the past.

× For the last few years, you can increasingly hear the word "microfinance". In the West, more and more large international banks participate in microfinance programs. The meaning of microfinance is to provide unsecured loans to small companies, individual entrepreneurs or even to individuals who cannot provide standard support, such as a deposit. Moreover, in microfinance, the provision may not have a lot of importance for creditors due to the fact that the cost of recovery to such care and its sale may exceed the cost of the loan itself. The lack of ensuring, however, increases the cost of financing, as the lender carries the risk of non-payment and difficulties of receiving the payment in the absence of provision. Very often, the microfinance interest may be several times to exceed those percentages that are paid in conventional lending. Microfinance is provided for up to one year, and very often for a period of less than 90 days. Interest periods are also installed shorter - for example, one week. Products that may be offered within microcredit include the following: loans; saving; insurance. Microfinance originally appeared in developing countrieswhere the population access to banks is limited, and small sum It can help start your own business, but at the moment it is also successfully implemented in developed countries. This, for example, has a positive effect on the development of small businesses in Europe. The participation of banks in microfinance directly international banks rarely participate in microfinance. This is not an obstacle to this, as legislation does not prohibit banks to provide small loans. However, there are several practical reasons why large banks are not involved directly in microfinance: banks, providing funding, want to be confident that the borrower will be able to return funds provided to him. There is no such confidence when granting a small company loan or an individual entrepreneur who may disappear at any time; In many types of financing, banks require provision. Lack of collateral is often entails for banks the need to create the best, rather than with secured transactions, reserves. In addition, the provision serves for banks a guarantee that funds will be returned. In the absence of provision, banks do not provide funding; Many clients with small loans create a large organizational burden for the bank. Not every bank can bear such expenses for servicing a large number of small loans, despite the fact that income on this business is insignificant; The establishment of special preferential conditions for microfinance (lack of collateral, etc.) may be regarded as discrimination of other persons - customers of the bank. All of the above is the reasons why large banks do not directly participate in microfinance. However, they often participate in such programs through any local organization, which also provides microfinance. Microfinance organizations in different countries Microfinance organizations exist in different organizational and legal forms. It can be: credit Unions, commercial banks, non-governmental organizations, leasing companies , Government banks, associations, self-organization groups, suppliers, traders, etc. Given the growing role of microcredit organizations, the problems of such an organization may entail serious social shocks for the territory to which the activities of microfinance organizations are distributed. In different countries, regulation of microfinance organizations occurs in different ways: (a) in some countries there is self-regulation of microfinance organizations this does not mean that microfinance organizations exist in themselves. Usually they approve the rules of internal control, the rules of corporate governance and disclosure of information. However, state regulation is not introduced, since usually microgentities are not entitled to a potential systemic risk, therefore attempts to regulate and observe the market will not be justified in terms of its cost. In such cases, reporting may also exist, but it gives up not for the purposes of prudential supervision, but for statistical purposes. (b) In other countries, only large microfinance organizations are regulated, whose activities can have a negative impact on the entire market. Selective regulation of microfinance organizations is used, including in order to reduce the load of the main state apparatus for taxpayers. (c) Total state regulation of all microfinance organizations. In such a case, all organizations operating in the field of microfinance are governed. Regulatory issues arising from microfinance due to the specificity of microfinance nature - i.e. issuance of many small loans without ensuring - when granting microfinance, attention is paid to various important issues related to microfinance: responsible management, clear objectives of action, responsibility for failure to comply with the tasks; Development of a standard accounting system for microfinance organization so that it is transparent and simple; effective internal control; Development of an effective mechanism to protect depositors; Development of an effective information system, financial and operating standards; the right choice of organizational and legal form of organizations that provide financing; Taxation of microfinance organizations and taxation of its clients, as well as taxation of investments of foreign funds and other agreements in such microfinance organizations; Authority and procedure for regulating microfinance organizations.

× Great Finance Minister George Osborne (George Osborne) announced the budget details for the next five years, providing for an unexpected decline in corporate tax rates, refusal of the "resident without domicile" status and an increase in the taxable ceiling for income tax and inheritance tax. To date, at the rate of corporate tax in the amount of 20%, the United Kingdom is in the first place among the groups of twenty (G20) as a country with a minimum tax rate. Nevertheless, according to Osborne, the government will continue to work, planning to reduce the tax rate of up to 19% in April 2017 and up to 18% in 2020. In addition, within the framework of work on the simplification of the dividend tax system, the corresponding tax credit will be replaced by a new non-free quota in the amount of 5,000 pounds of sterling ($ 7693) for dividend income of all without exception taxpayers. Dividend tax rates will be installed at 7.5%, 32.5% and 38.1%. The government also plans to refuse the tax status of the "resident without domicile", i.e. In practice, any resident of the UK for any 15 years from previous twenty will be obliged to pay the taxes charged on the territory of the country, from all world, i.e., received outside the country, revenues. This measure must be implemented in April 2017, the profit for the treasury from its introduction is estimated at 1.5 billion pounds of sterling by 2020.

× 03.11.2009 Changes in legislation - Republic of Cyprus, United Kingdom, Guernsey Republic of Cyprus Commission for securities and stock exchanges (CYSEC) on the basis of the authority provided by Article 144 of the Law on the provision of investment services, the implementation of investment activities, the functioning of regulated markets and other related issues from 2007, published the following directive: Directive DI144-2007-04 (c) Regarding Charges and Annual Fees Payable To The Commission Amendments made to the text of the directive DII144-2007-04 on the fees and annual contributions of investment firms paid by the Commission will increase the previously established amount introduced by the applicant in submission to the application for the issuance of permission for the right to implement activities of the Cyprus investment company, from two (2) to three (3) thousand euros (? 3 000). Document Type - Directive Document Number - DI144-2007-04 (c) Date of entry into force - On October 30, 2009, the body adopting a document - Commission on Securities and Exchange Printing Edition, published document - Official Gazette United Kingdom Financial Services Management ( FSA) Announced changes made to some instruments of the FSA Handbook manual (Overview No. 2 for September 2009): Handbook Notice, 93 Among other things, the changes were made to management through two tools, together establishing new liquidity rules for foreign banks, construction cooperatives and investment firms, as well as on the territory of the United Kingdom of branches of foreign banks, including new, adjusted requirements for the introduction of a new liquidity regime for the above-mentioned firms established by the Financial Services Management (FSA 2009/55 and FSA 2009/56 tools). Document Type - Notification Document Number - 93 Date of adoption - September 30, 2009 Date of entry into force - On October 5, 2009, the body adopting a document - Financial Services Office Printing published document - UK FSA WebSite *** Management of Her Majesty for Tax and customs fees based on the powers provided by section 393B (3) (D) and (4a) of the income tax law (income and pension payments) From 2003, the following resolution was published: Employer-Financed Retirement Benefits (Excluded Benefits for Tax Purposes) (Amendment) Regulations 2009 This resolution makes amendments to the text of the pension funded by the employer (excluded for tax purposes) from 2007 ( Employer-Financed Retirement Benefits (EXCLUDED BENEFITS FOR TAX PURPOSES) Regulations 2007), eliminating the established non-monetary remuneration provided by pensioners and existing employees in the framework of payments for pension funded by the employer, from the taxation of the above payments financed by the employer on the basis of section 394 of the Law on the Law on income tax (income and pension payments) from 2003. In addition, the present decree includes an exception to screening and medical preventive examination. Thus, the exception is valid in case of compliance with screening and preventive inspections to the requirements for exemption from the obligations on tax payments on the basis of section 320V of the income tax (income and pension payments) of 2003, as well as in the case of certain payment of previously offensive retirement age. Document Type - Decree Number of the Document - 2009 No. 2886 Date of adoption - October 28, 2009 Date of entry into force - December 1, 2009 The body adopting a document is the Office of Her Majesty for Tax and Customs Sending Print Edition, published document - Office of Public Sector Information *** Treasury on the basis of the authority provided by sections 7 (8) and (9), 11 (1), (5) and (6), 12 (3) and (4), 65 (1) and (7) and 67 of the 2002 tax discount law (Tax Credits Act 2002), as well as the management of its Majesty for tax and customs gathering on the basis of the powers provided by sections 4 (1) (B), 65 (2) and (7) and 67 of the above-mentioned The law, published the following resolution: Tax Credits (Miscellaneous Amendments) (No. 2) Regulations 2009 This decision makes amendments to the text of the tax credit provided by the employee (granting the right and maximum rate ) from 2002 (Working Tax Credit (Entitlement and Maximum Rate) Regulations 2002), a decision on tax discounts (definition and calculation of income) from 2002 (Tax Credits (Definition and Calculation of Income) Regulations 2002) and rulings on tax discounts ( Protesting and notifications) from 2002 (Tax Credits (Claims and Notifications) Regulations 2002). Document Type - Resolution Document Number - 2009 No. 2887 Date of adoption - October 28, 2009 Date of entry into force - On November 21, 2009, the body adopting a document - the Treasury / Office of its Majesty for Tax and Customs Sending Print Edition, published document - Office of Public Sector Information *** Treasury based on the powers provided by section 318d (2) of the income tax law (income and pension payments) from 2003 (Income Tax (Earnings and Pensions) ACT 2003), as well as following the relevant provisions of the regulations issued on The basis of Section 12 of the Law on Tax Discounts from 2002 (Tax Credits ACT 2002) in relation to the provision of a guard to a guard over a child, a tax loan, published the following ruling: INCOME TAX (Qualifying Child Care) (No. 2) Regulations 2009 This resolution contributes Amendments to the section 318C Income Tax Act (income and pension payments) of 2003, containing provisions in relation The interpretation of the term "Qualifying Child Care" for the purpose of section 318a of the law. Document Type - Resolution Document number - 2009 No. 2888 Date of adoption - October 28, 2009 Date of entry into force - November 21, 2009 The body adopting a document - the Treasury Printdition, published document - Office of Public Sector Information *** Her Majesty Management Tax and customs fees based on the powers provided by Section 182 (1) (a) of the State Budget Act from 2002 (Finance Act 1993), section 229 (1) (a) of the 1994 Law Budget Act (FINANCE Act 1994) and paragraph 3 (14) of Annex 11 to the State Budget Act from 2007 (Finance Act 2007) issued the following Resolution: Lloyd's Underwriters (Tax) (Amendment) Regulations 2009 This decision makes amendments to the Legisher of Lloyd's (tax) from 2005 years (Lloyd's underwriters (TAX) Regulations 2005 (SI 2005/3338)) in order to apply the provisions of paragraph 2 of Annex 11 to the law on the state budget from 2007 to manage Lloyd's syndicate agents. Thus, paragraph 2 of Annex 11 to the above-mentioned law provides the right to employee management on tax and customs fees to demand from the company general insurance Providing a report regarding the amount of technical reserves reflected in the accounts of this company. This resolution corrected paragraph 2 of the above-mentioned application in order to apply on the technical reserves of Lloyd's syndicates. Document Type - Resolution Document number - 2009 No. 2889 Date of adoption - October 28, 2009 Date of entry into force - December 1, 2009 The body adopting a document is the management of its Majesty for tax and customs gathering Printing publishing document - Office of Public Sector Infirmation Guernsey Department of Treasury and Cash on the basis of the authority provided by Section 62A (4) of the Income Tax Act (Guernsey) from 1975 (Income Tax (Guernsey) LAW, 1975), published the following resolution: The Income Tax (Deemed Distributions) (Exemptions) Regulations 2009 This decree contains provisions regarding the exclusion from the status of taxation of hidden dividends established on the basis of the head of the VIIIA of the Income Tax Act (Guernsey) from 1975. The above exception is valid for companies intending to distribute at least 65% of trade profits. Type of Document - Resolution Document number - 2009 No. 50 Date of adoption - October 6, 2009 Date of entry into force - November 25, 2009 The body adopting a document - the Department of Treasury and Cash Printing Edition, published document - Guernsey Legal Resources *** Department of Treasury and Cash on the basis of the authority provided by Sections 127, 144, 535 and 538 of the Law on Companies (Guernsey) from 2008 (Companies (Guernsey), 2008) issued: The Companies (Inspection and Copying Of Documents) (Fees) Regulations, 2009 This resolution in the objectives of the Law on Companies (Guernsey) from 2008 contains provisions regarding the fees paid by the person who is verified by the register of shareholders of the company, as well as the person requesting a copy of this registry. Document Type - Resolution Document number - 2009 No. 54 Date of adoption - October 6, 2009 Entry into force - December 1, 2009 The body adopting a document - the Department of Treasury and Cash Printing Edition, published by the document - Guernsey Legal Resources

× Mississippi Hayley Barborg Governor published an article in which he made a call for French entrepreneurs to transfer their business to the jurisdiction of his state. "My message to companies that create jobs and those who want to leave from under the French tax regime: Mississippi will take you," the governor wrote on the website dedicated to the state's foreign policy. "If you think the French are taxed all that moves, then you are not far from the truth," the Republican added in his article. This is not the first news of this kind. In France, there is still a fresh memory of the proposal of the Prime Minister David Cameron to the National Banks, put forward in January of this year. "The door is open, and we will be able to welcome French banks, business and other subjects in the UK financial market"," Said British politician then.

From November 2014, the European Commission is working to create the Union of Capital Markets (Capital Markets Union). The Union of Capital Markets should contribute to the creation of a single stock market in the territory of 28 countries of the European Union. Within the framework of the Union of Capital Markets, it is assumed: closer cooperation in the market between large and small companies; Providing greater opportunities in the stock market; strengthening cross-border cooperation and capital flow; Improving access to financing for commercial companies, especially for small companies. Consultations in order to identify specific measures to be taken in connection with the creation of the European Union on the stock market, the European Commission began consultation with government agencies and public. In consulting proposals, the European Commission noted that the European business is still largely relied on banks in financing and to a lesser extent on the stock market; This dependence of the European economy from bank lending, especially small enterprises, makes them subject to additional risks during financial crises, when the lending level decreases sharply. new investments are needed for all companies, including small enterprises, and infrastructure projects; It is necessary to attract more investments in the European Union from other countries of the world; In the US, the level of foreign investment exceeds European about twice. To do financial system More stable way to open greater opportunities for funding. As part of the creation of the European Union on the stock market, it is assumed: to prepare proposals for stimulating securitization and exemption of bank balance sheets for lending; Securitization can contribute to the transfer of risks and an increase in the ability of banks to the provision of new funding. It is supposed to introduce simple, transparent and standardized securitization tools. revise the Prospectus Directive so that for firms, especially small, simplify the procedure for obtaining investments and access to foreign investors; The goal is to achieve such a status so that small businesses can receive funding are also easy as large companiesIn order for the cost of access to such financing is not high, and the volume of administrative barriers would be minimal. In particular, to accomplish securities, the company should prepare a detailed document - prospectus, which reflects information about companies, conditions and risks for investment. Currently, the preparing for small and medium-sized enterprises is a burdensome task. In this regard, the European Commission will revise the existing regulation on emission prospectuses in order to simplify some of its parts, facilitate the procedure for the adoption of the Avenue, release the company from approval of the prospectus in some cases. make credit information about small enterprises more accessible to investors it is easier to invest; Access to financing during the crisis for small enterprises becomes even tougher than for large companies. Usually information about small enterprises is limited, and it can be found only in banks. Therefore, when small businesses want access to a greater circle of investors, it does not always succeed. Improving the availability of credit information, the development of a minimum set of information, which is provided for assessing and reporting, the standardization of such information can help in the development of financial instruments for refinancing small enterprises. It is also assumed to work on a credit scoring system, which could be assessed by the creditworthiness of small enterprises. Currently, in Europe, 75% of companies manage their own owners do not have a credit assessment. enter the European regime for private accommodations so that direct investments in small businesses are more attractive; One of the types of financing are private accommodations when companies offer securities to individuals or a small circle of investors not through public markets. Private accommodations can be more economically justified for small companies. The problems here arise in the lack of laws on insolvency, standardized processes and documentation, information on the creditworthiness of issuers. Support new European investment funds Long-term investment through which investments in infrastructure and other long-term projects are possible. For these purposes, investment funds of long-term investment (the so-called ELTIFS) will begin to operate in the European Union (the so-called ELTIFS), which are designed to long-term investment and financing the economy. It is assumed that the European Union on the stock market will contribute to the creation of a larger number of jobs; will affect the attraction of new investments and the development of the economy; will expand the spectrum of retail investment; will contribute to greater European integration, eliminate interstate barriers; Create an effective level of protection of consumers and investors. As part of the creation of the European Union on the stock market, it is planned to be planned for legislative measures in such areas as a stock market, insolvency, corporate law, taxation and illegal market methods aimed at improving market efficiency. For example, the development of standard forms and rules, an increase in competitiveness in the market, facilitating access to the market, confirmation of the principle of free movement of capital.

× Apparently, the plans of the PRC of 5% increase in tax revenues this year are not destined to come true if you believe the statement of official representatives of the Ministry of Finance of the state. According to the government's report, tax revenues to the budget for the first five months of the current year amounted to 402 billion US dollars, which only 2% exceeds the indicators of the same period in 2014. The current situation determines the continuing slowdown in the growth of China's economy. In addition, recent governmental decisions were made to reduce the tax burden on business (primarily small enterprises). Despite the foregoing, the PRC government intends to continue the reform of the country's tax system. In the near future further relaxation in the taxation of economic activities, the improvement of customs policies, as well as the new current of tax policy reform in the industry of resource mining and minerals. Moreover, the Chinese authorities are considering the possibilities of changes in the property and income tax of individuals.

× 10/20/2009 Changes in legislation - United States of America, United Kingdom United States Commission on Securities and Exchange (SEC) submitted the following rules (Proposed Rules): Rules Requiring Internet Availability of Proxy Materials Through this document, the Securities Commission And the stock exchanges amendments to the federal rules issued under the Securities and Exchange Act of 1934 (Securities Exchange ACT OF 1934) in order to improve the procedure for providing the Company to the Company's shareholders of relevant materials to the General Assembly (Proxy Materials). In particular, the Commission proposes to review the existing rules in order to provide additional "flexibility" on the format of notification on the availability of materials sent by shareholders regarding the upcoming General Meeting, through the Internet (Notice of Internet Availability of Proxy Materials). In addition, the Commission proposes the inclusion of a new ruler providing issuers right, as well as requiring shareholders to include explanatory information regarding the process of obtaining, studying sent materials and further voting. Document Type - Rules Document number - 33-9073 Date of adoption - October 14, 2009 Date of entry into force - at the stage of consideration of the body adopting a document - Commission on Securities and Exchange Print Edition, published document - US Secual WebSite *** Commission On Securities and Exchange (SEC) submitted the following rules (Proposed Rules): Extension of Filing Accommodation for Static Pool Information in Filings WITH RESPECT TO ASSET-BACKED SECURITIES Through this document, the Securities and Exchange Commission (SEC) offers amending In the rule 312 of the "ST" regulations (ST Regulation) providing a temporary exclusion with respect to the submission of a report regarding securities provided by assets (Asset-Backed Securities), in order to provide the right to publish information on the static pool (Static Pool), previously published in Prospects Emissions on the Web site subject to certain conditions. As part of rule 312, such information should be included in the emission prospectus contained in the document registration of securities provided by assets. This rule applies to reports on securities, secured assets filed December 31, 2009 or later. Thus, the Commission proposes to make adjustments to the above-mentioned rule in order to extend the specified period for one year: in the framework of the proposed extension of the period, the rule 312 will be applied to reports on securities provided by assets submitted on December 31, 2010 or later. Document type - rules document number - 33-9074 Date of adoption - October 19, 2009 Date of entry into force - At the stage of consideration, the body adopting a document - Commission on Securities and Exchange Print Edition, published document - US Sec Official WebSite United Kingdom Minister for Community and local self-government issues on the basis of the authority provided by Section 74 (2), (4) and (6), 178 (1) of the Law on Public and Lease Reforms from 2002 (COMMONHOLD AND LEASEHOLD REFORM ACT 2002) Next Resolution: RTM Companies (Model Articles) (England) Regulations 2009 In accordance with Chapter 1 of Part 2 of the Law on Public and Rental Property Reform from 2002, a company, indicated in the Direct-said chapter as a company with the right to management (RTM Company), It can provide and use rights regarding premises management. Section 73 (2) of the above law contains provisions that establish that the company is a company with the right to manage the installed premises in the event that it is closed joint-stock companylimited by guarantee (Private Company Limited by Guarantee), and its charter explains that the goal, or one of the goals of the company is the acquisition and use of the right to manage the above premises. This rulings whose provisions will be applied solely in England, establishes the form and content of the "RTM" charter. In addition, this Resolution abolishes a decision on companies with the right of management (Memorandum and Charter) (England) from 2003 (RTM Companies (Memorand) Regulations 2003). In accordance with the provisions of this Resolution RTM, the company established before November 9, 2009 may continue to carry out activities within their charters, until September 30, 2010, such companies can harmonize their statutes in accordance with the provisions of this Regulation. Document Type - Resolution Document Number - 2009 No. 2767 Date of adoption - October 13, 2009 Date of entry into force - November 9, 2009 The body adopting a document - Minister of Community and Local Self-Government Printing Edition, published document - Office of Public Sector Information