The Central Bank of Russia has published draft amendments to its instruction on inspection procedures that would отмена triennial inspections for supervised entities and shift inspection planning to a fully risk-based model. Under the proposed approach, inspections of financial market participants would be carried out when supervision is required and based on an assessment of information about the entity’s activities. The affected perimeter includes credit institutions, non-governmental pension funds, large insurers and professional securities market participants, payment system operators, credit history bureaus, and trade organisers, among others, with the stated aim of reducing the administrative burden on good-faith and transparent participants.
Central Bank of Russia 2025-05-29
Central Bank of Russia publishes draft amendments to end triennial inspections and move to fully risk-based inspection planning
The Central Bank of Russia has proposed draft amendments to its inspection procedures, eliminating triennial inspections in favor of a fully risk-based model. Inspections will be conducted as needed, based on assessments of entities' activities, affecting credit institutions, pension funds, insurers, and others. The aim is to reduce the administrative burden on compliant and transparent participants.