Bank of Russia revokes banking licence of JSC SNCI FSC


Moscow: By its Order No. OD-1919, dated 3 August 2015, the Bank of Russia revoked the banking licence from the Astrakhan-based credit institution joint-stock company Settlements Non-bank Credit Institution Financial and Settlements Centre or JSC SNCI FSC (Registration No. 3319-R) from 3 August 2015.

The Bank of Russia took such an extreme measure — revocation of the banking licence — because of the credit institution’s failure to comply with federal banking laws and Bank of Russia regulations, repeated violations within a year of the requirements of Article 7 (except for Clause 3 of Article 7) of the Federal Law ‘On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism’ and Bank of Russia regulations issued in accordance with the said Federal Law, and application of supervisory measures envisaged by the Federal Law ‘On the Central Bank of the...

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