Banking law. Currency control (most important)

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Banking law. Currency control (most important)

Lecture notes, cheat sheets

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55. Currency control

Currency control in the Russian Federation is carried out by the Government of the Russian Federation, as well as bodies and agents of currency control.

The currency control bodies in the Russian Federation include the Central Bank of the Russian Federation and federal executive bodies authorized by the Government of the Russian Federation.

Currency control agents are: authorized banks reporting to the Central Bank of the Russian Federation; professional participants in the securities market that are not authorized banks, including registrars (registrars) accountable to the federal executive body for the securities market; Customs; territorial bodies of federal executive bodies that are currency control bodies.

Control over the implementation of foreign exchange transactions is provided by:

1) the Central Bank of the Russian Federation - in relation to credit institutions;

2) within their competence, federal executive bodies acting as currency control bodies, and currency control agents - in relation to residents and non-residents who are not credit institutions or currency exchanges.

The Government of the Russian Federation performs the following functions:

1) coordinates the activities in the field of currency control of federal executive bodies that are currency control bodies, their interaction with the Central Bank of the Russian Federation;

2) ensures the interaction of professional participants in the securities market and customs authorities, who are not authorized banks, as currency control agents with the Central Bank of the Russian Federation.

CBR interacts with other currency control authorities and ensures interaction with them, as well as with the customs authorities of authorized banks as agents of currency control.

Bodies and agents of currency control and their officials, within their competence and in accordance with the law, have the right to:

1) conduct inspections of compliance by residents and non-residents with acts of currency legislation and acts of currency regulation bodies;

2) to check the completeness and reliability of accounting and reporting on currency transactions of residents and non-residents;

3) request and receive documents and information related to the conduct of foreign exchange transactions, opening and maintaining accounts (term - 7 working days from the date of submission of the request).

Rights of currency control authorities and their officials:

1) issue orders to eliminate revealed violations of acts of currency legislation and acts of currency regulation bodies;

2) to apply the measures of responsibility established by the legislation for violation of the acts of the currency legislation and acts of the currency regulation bodies.

For the purpose of exercising currency control, currency control agents, within their competence, have the right to request and receive from residents and non-residents the following documents (copies of documents) related to conducting currency transactions, opening and maintaining accounts:

1) documents proving the identity of an individual;

2) a document on state registration of an individual as an individual entrepreneur;

3) documents certifying the status of a legal entity - for non-residents, a document on state registration of a legal entity - for residents;

4) certificate of registration with the tax authority;

5) documents certifying the rights of persons to real estate, etc.

Currency control agents and their officials are obliged to: exercise control over compliance with acts of currency legislation and acts of currency regulation bodies; submit to the currency control authorities information on currency transactions carried out with their participation, in accordance with the established procedure; keep commercial, banking and official secrets that became known to them in the exercise of their powers.

Author: Belousov D.S.

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