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The central bank will be able to restrict leaving abroad of unscrupulous bankers out of court

The central bank will be able to restrict leaving abroad of unscrupulous bankers out of court

The regulator may be empowered to deal with dubious top managers of credit institutions. Officials have put several bills to the vote that will allow the Central Bank to go to court with a request to prohibit traveling abroad for some bankers.

According to the bill, the regulator will have the right to restrict the departure of top managers of banks, insurance companies, as well as non-state pension funds, which were sent for reorganization, for 180 days. A statement from the Central Bank will be a sufficient basis for making a decision even without notifying the participants of the proceedings. In this case, restrictions may be imposed on individuals before they are found guilty or suspected. The Bank of Russia will be able to impose restrictions on anyone it considers to be in control: chief accountant, shareholder, top manager and other heads of departments.

Often, unscrupulous managers go abroad before being accused. The existing legal documents don’t allow this, therefore, it is necessary to make appropriate changes, officials say in an explanatory note to the bill. The decision on the application of the Central Bank will be made by the Moscow City Court, it will be mandatory for immediate execution. The bill was supported by the Supreme Court, the Ministry of Finance, the Ministry of Economic Development, the Ministry of Justice, the Ministry of Internal Affairs and others.

The proposal was first voiced in 2016 at a meeting between Vladimir Putin and Elvira Nabiullina. The President noted that before punishing unscrupulous bankers, they must be returned to the country. The head of the Central Bank agreed and proposed to introduce this opportunity at the legislative level.


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