Bank of Russia to disclose anonymized ownership data from 2027

From 1 January 2027, the Bank of Russia will reintroduce the disclosure of financial institutions' ownership structures, now in an anonymised format.

This new method employs 14 specific criteria, with responses limited to 'yes', 'no', or 'not applicable'.

Each market participant will receive a unique set of these characterising responses, which will then be made public.

This innovative approach is designed to furnish the market with essential information, thereby avoiding an increase in sanction risks for its participants.

The new disclosure format will encompass a broad range of entities, including banks, non-governmental pension funds, insurance and management companies, as well as microfinance organisations.

The disclosed information will include facts about owners and any orders issued due to poor business reputation or financial standing.

The Bank of Russia's ordinance, which formalises this new disclosure practice, has been officially registered by the Russian Ministry of Justice.

A key aspect of this initiative is that the regulator itself will be responsible for preparing the anonymised ownership structure information, taking into account each financial institution's specific position.

Consequently, market participants are not expected to incur any additional administrative burden.

This proposed information disclosure format was not developed in isolation; it underwent thorough discussion and received explicit backing from financial market participants, underscoring a collaborative approach to its design and implementation.