Aggregated News From Investment Management Regulators

Results of provisional administration-conducted inspection of CB PFC-BANK PJSC


Please complete the required fields.

The provisional administration to manage CB PFC-BANK PJSC (hereinafter, the Bank) appointed by Bank of Russia Order No. OD-65, dated 17 January 2020, following the revocation of its banking licence, in the course of the inspection of the Bank, established the existence of signs suggestive of the Bank’s officials operations to divert assets through lending to borrowers with dubious solvency or knowingly unable to fulfil their obligations.

On 30 September 2020, the Arbitration Court of the city of Moscow recognised the Bank as bankrupt. The State Corporation Deposit Insurance Agency was appointed as a receiver.

As the Bank of Russia reasonably presumes that the Bank’s officials were engaged in financial operations suggestive of criminal offence, the Bank of Russia submitted relevant information to the Prosecutor General’s Office of the Russian Federation and the Investigative Committee of the Ministry of Internal Affairs of the Russian Federation for consideration and procedural decision-making.

Source Link

Regulator Information

Abbreviation: CBR
Jurisdiction: Russian Federation

Recent Articles

SEC Charges Eagle Bancorp and Former CEO with Failing to Disclose Related Party Loans

Washington D.C., Aug. 16, 2022 — The Securities and Exchange Commission today charged Eagle Bancorp, Inc.

Warning regarding unregulated entities

See a PDF of the Warning published by the Cyprus Securities and Exchange Commission (CySEC CY) here: Source link

Announcement for a Case of Carrying out Securities Business without Authorisation

In line with the Capital Market Authority's (CMA) responsibilities to protect citizens and investors from unfair and unsound practices, and aiming to achieve fairness,...

OCC Hosts Risk Governance and Compliance Risk Workshops in Minneapolis

  • +1Bank Management, Banker Education, Board of Directors & Management, Community Banks
News Release 2022-99 | August 15, 2022 Share This Pag

Get the latest from Regulatory.News in your inbox!