Russia continues private banking sector purgeRussia’s Central Bank on Friday declared it has revoked the licenses of My Bank, owned by former Federation Council Member Gleb Fetisov until December 2013, and Priroda Commercial Bank, in a ongoing purge of private banking sector hat started in 2013 with the sacking of Master-bank.12:01 31.01.2014
Appeal against Master-bank bankruptcy turned downThe Moscow Commercial Court on Monday has rejected the motions filed by Master-bank CEO Boris Bulochnik against the ongoing bankruptcy proceedings in the bank.17:04 27.01.2014
New York high court ordered to clarify foreign banking lawsA US federal court has posed to New York’s highest state court unresolved questions of New York law regarding whether banks operating within the state should be spared from having to turn over or restrain a debtor’s assets when such are held in foreign branches.17:46 15.01.2014
Russian Central Bank stands for criminalizing false financial informationThe Russian Central Bank proposed the introduction of criminal liability for those playing an active role in spreading allegations that compromise financial institutions.15:17 20.12.2013
Criminal case against ex-EBRD director Kotova reaches Moscow courtThe criminal case against Yelena Kotova, Russian former top representative at the European Bank for Reconstruction and Development (EBRD) who was charged with seeking a bribe of $1.4 million, has been submitted to a Moscow court.11:16 20.12.2013
Russian regulator shuts three more banks in clean-up driveRussia’s financial regulator revoked the banking licenses of three mid-sized Russian banks Friday, as the authorities ratchet up regulation of the country’s banking sector.10:58 13.12.2013
Russia’s Central Bank not to warn banks of license revocationRussia’s Central Bank said Sunday it cannot warn banks of a possible license revocation beforehand because there is a risk that some banks would try to move out their assets.09:51 09.12.2013
Russian bank top manager detained in Moscow for extortionA top manager at a Russian bank and another individual were detained in Moscow for the alleged extortion of 8.2 million rubles ($250.000), the Interior Ministry reported Thursday.11:58 28.11.2013
There are no blacklists of banks for license recall - officialThere are no black lists of banks the licenses of which the Central Bank may revoke, Central Bank Governor Elvira Nabiullina said Wednesday at a meeting with the heads of the largest Russian banks.11:37 28.11.2013
Russian police search major bank's offices after license recallThe police are now searching the Moscow offices of Master Bank, which license was revoked earlier on Wednesday, in connection with the investigation of an illegal cash out scheme worth 2 billion rubles ($61 million), The Interior Ministry reported on its website.13:57 20.11.2013
English Law Week 2013 in Moscow to focus on managing risk under English lawEnglish Law Week 2013, which is set to be held at the British Embassy in Moscow on November 19 and 20, will focus on managing risk under English law, in an M&A and banking context.19:57 06.11.2013
US man pleads guilty in $6 billion money laundering caseLiberty Reserve co-founder and alleged “global banker for criminals” Vladimir Kats of Brooklyn, New York has pleaded guilty to money laundering and operating an unlicensed money transmitting business, the US Department of Justice (DOJ) announced Thursday.13:15 01.11.2013
Goldman Sachs to appeal ex-programmer Aleynikov fee payment orderGoldman Sachs filed notice Thursday of its intent to appeal a US federal court decision ordering the banking giant to pay certain of Sergey Aleynikov’s legal fees.17:54 25.10.2013
Appeal in Bank of Cyprus unjust enrichment case to be considered on Nov.7The Moscow District Federal Commercial Court has postponed the hearing for the appeal in the rejected lawsuit of Algeba, seeking 380 million rubles ($11.8 million) in compensation from the Bank of Cyprus based on allegations of unjust enrichment, until November 7.14:09 17.10.2013
Consumer watchdog calls for lifting ban on 5,000 ruble billsThe Consumer Protection Society petitioned the Bank Of Russia to lift the ban on 5,000 ruble bills in ATMs. Last week, major Russian banks temporarily blocked their ATMs from accepting 5,000 ($155) bills – the biggest denomination available in Russia – after Moscow was flooded with counterfeit bills designed specifically to evade ATM protection measures.12:33 17.10.2013
Russia's Central Bank cracking down on costly consumer loansRussia’s Central Bank said Thursday that it was cracking down on costly consumer loans, including with a measure obligating banks that lend out money at 60 percent interest to back such loans by 600 percent with their own money.10:10 06.09.2013
WDB Bank's bankruptcy procedure extendedThe Saratov Region Commercial Court has extended the bankruptcy procedure of the Wolga Deutsche Bank (WDB) for six months, the court told RAPSI on Friday.13:05 30.08.2013
Former Rosbank CEO Golubkov to remain in detentionThe Moscow City Court has upheld the detention of former Rosbank CEO Vladimir Golubkov, who is accused of bribery, RAPSI reported from the courtroom on Thursday.16:12 29.08.2013
Moscow banker's murder prevented - Interior MinistryPolice have prevented the assassination of a Moscow bank’s president, the Interior Ministry’s department in the Russian capital reported Wednesday.14:02 21.08.2013
Russian police bust $30 mln bank guarantee fraudThe Moscow police said Tuesday it had arrested fraudsters who sold fake bank guarantees worth a total 1 billion rubles ($30 million) to state contractors in Russia.16:01 20.08.2013