On October 2, 2018, the second meeting of the Financial club, devoted to the perspectives of modernization of Russian non-credit financial institutions bankruptcy legislation, took place.
The following questions were discussed at the meeting:
- The necessity of introduction of special regulation of the insolvency (bankruptcy) procedures of non-credit financial organizations (NFO) in the current Russian legislation;
- The necessity of the legal regulation of the rehabilitation of the NFO which meet the requirements of insolvency;
- Assessment of the introduction of a special creditors' register of claims on the transfer of securities;
- Preferences for lenders whose claims arose from certain financial instruments;
- Restriction of liquidation netting usage in derivative agreements in the NFO bankruptcy procedure. Practical problems of liquidation netting;
- Legal consequences of an investment fund’s financial intermediary bankruptcy;
- Selection of an organization that can perform the functions of compensation fund in case of NFO bankruptcy.
The organizer of the Financial club is International and Comparative Law Research Center with the assistance of the Civil Law Department of Faculty of Law of Lomonosov Moscow State University.