Bank Vozrozhdenie Board of Directors held aregular meeting

25 October 2013

Bank Vozrozhdenie Board of Directors held its regular meeting today.

A scope of items included into the agenda of the meeting was preliminarily considered during the meeting held by the Audit Committee and the Human Resources and Compensation Committee on October 18, 2013.

The bank’s Board of Directors considered the following reports for the period of 3Q13:

  • Report of the Controller over Bank Vozrozhdenie activity at the securities market,
  • Report on results of internal control to combat misuse of insider information and market manipulation at Bank Vozrozhdenie,
  • Report on compliance with the rules of internal control and with internal control programmes to combat legalization (laundering) of criminally obtained revenues and terrorism financing.

Among other issues, the Board studied review materials provided by the Bank of Russia in 3Q13.

With a view of corporate governance enhancement, the Board examined the best practices with regard to the issues of its competence. Alongside with this, the Board of Directors analyzed the process of the bank’s corporate governance improvement.

In relation to a number of alterations to the RF legislative acts taking effect, the Board of Directors approved the new edition of the Order of access to the insider information, the Rules of securing its confidentiality and control over compliance with the requirements of the current legislation of the Russian Federation on combating misuse of insider information and market manipulation.

Furthermore, taking into account recommendations of the Human Resources and Compensation Committee, the Board of Directors decided to re-elect (extend the authorities) Mr. Sergey Malinin, the member of the Management Board, for five years.

In order to comply with the Federal Law #208-FZ “On joint stock companies”, dated December 26, 1995, the Articles of Association as well as the Regulation on the executive bodies, the Board of Directors gave its consent to Mr. Mikhail Semko, the member of the Management Board, the Head of the Legal Department, to act as the Member of the Board of Directors of BELKOZIN JSC in case of his election.

Bank Vozrozhdenie has published RAS results for 9M 2013
Bank Vozrozhdenie will publish its 3Q 2013 IFRS results and hold a conference call for investors on November 26