Federal Law No. 223-FZ of July 13, 2015 "On Self-Regulating Organizations in the Financial Market"

Federal Law No. 223-FZ of July 13, 2015 "On Self-Regulating Organizations in the Financial Market" effective January 11, 2016, with the exception of certain provisions for which a different date of entry into force is established.

The law regulates relations arising in connection with the acquisition and termination by non-profit organizations that unite financial institutions of the status of self-regulatory organizations in the financial market, the exercise of their rights and obligations, and the interaction of self-regulatory organizations and their members with the Bank of Russia.

SROs have the right to develop standards, norms and rules that supplement and (or) detail the norms of state regulation. SROs are required to develop basic standards, the list of which is established by the Central Bank of the Russian Federation for a certain type of SRO. In addition to the basic ones, SROs can approve internal standards that establish additional requirements for the relevant activities.

Defined qualification requirements and requirements for business reputation SRO guidelines.

There is a possibility for the Bank of Russia to transfer, at the initiative of the SRO, the authority to receive reports from its members. The list of the latter is determined by the Central Bank of the Russian Federation.

Rules for membership in the SRO and the procedure for its termination have been established.

The activities of the SRO are supervised by the Bank of Russia. He can impose fines, demand the replacement of the head of the SRO, terminate its status, and suspend the performance of the functions of the SRO.

The SRO has the right to create a council of SRO leaders to coordinate their interests and represent them in the Bank of Russia.

In order to obtain the status of an SRO, newly created trade union associations must meet certain requirements established by Part 4 of Article 3 of the Federal Law. The status is assigned from the date of entering information about the SRO in the unified register of SROs in the financial market. The corresponding decision is made by the Bank of Russia. He is also authorized to maintain the specified register.

As for credit SROs created and operating for more than 1 year consumer cooperatives, then Part 4 of Article 33 of the Law establishes that information on such self-regulatory organizations is considered to be entered in the unified register of self-regulatory organizations in the financial market from the date of entry into force of this Federal Law without these organizations complying with the requirements provided for federal law.

From July 1, 2018 to January 1, 2019, customers have a transitional period - it is allowed to carry out both electronic and paper procedures. From 2019, competitions, auctions, quotes and requests for proposals on paper will be prohibited, with eight exceptions.
Read what purchases to make at the ETP, how to choose a site and get electronic signature, according to what rules to conclude contracts during the transition period and after.

Certificates of admission to certain types works that affect the safety of capital construction facilities from July 1, 2017 are not valid. Instead, the customer must require the participant to attach to the application an extract from the register of members of self-regulatory organizations. It is this document that is now provided by procurement participants for engineering surveys, preparation project documentation, construction, reconstruction, overhaul of capital construction facilities.

The customer has the right to establish a requirement to provide an extract on membership in the SRO in the event of a purchase for:

Performance of works on construction, reconstruction, overhaul of capital construction facilities, where the amount of obligations under each of such agreements (contracts) exceeds 3 million rubles;

Engineering surveys (the amount of obligations under each of such agreements (contracts) does not matter);

Preparation of project documentation (the amount of obligations under each of such agreements (contracts) does not matter).

From July 1, 2017, the composition of the documents that participants attach to their application has changed. We will tell you for whom the documents have changed and what should now be included in the application.

Certificates of admission to certain types of work that affect the safety of capital construction facilities are not valid from July 1. Instead, the customer must require the participant to attach to the application an extract from the register of members of self-regulatory organizations. It is this document that is now provided by procurement participants for engineering surveys, preparation of project documentation, construction, reconstruction, and overhaul of capital construction facilities. This rule was introduced into the Town Planning Code of the Russian Federation by amendments to the Law of July 3, 2016 No. 372-FZ.

An extract from the register of SRO members will be required when an individual entrepreneur and a legal entity participate in public procurement and procurement under Law No. 223-FZ.

When the SRO Requirement Rule Does Not Apply

If the purchase is carried out for construction, reconstruction and overhaul and the amount of obligations under the contract or agreement does not exceed 3 million rubles, membership in the SRO is not required. In this case, the customer does not have the right to demand from the participants an extract from the register of SRO members.

If the NMTsK is higher than 3 million rubles, then the customer needs to establish a requirement for membership in the SRO in the field of construction, reconstruction, overhaul of capital construction projects. Install it taking into account the exceptions made by part 2.2 of Article 52 of the Civil Code of the Russian Federation.

Membership in the SRO is also not required in cases of:

• parts 2.1. article 47 of the Civil Code of the Russian Federation - for procurement for engineering surveys;
• parts 4.1. article 48 of the Civil Code of the Russian Federation - for procurement for architectural and construction design.

What contributions to the SRO does the participant make

A member of a self-regulatory organization who wants to participate in competitive procurement must pay:

1. contribution to the compensation fund for damages (hereinafter - CF BB);
2. contribution to the compensation fund for ensuring contractual obligations (hereinafter - KF ODO).

At the same time, the KF ODO is necessary only to ensure the contractual obligations of SRO members who conclude contracts on a competitive basis. This means that only SRO members who participate in competitive procedures under 44-FZ and 223-FZ need to form this fund.

For your convenience, we have compiled in tables the amounts of contributions of members of the SRO.

Table 1. The amount of contribution to the KF BB and KF ODO per one SRO member in the field of engineering surveys or in the field of architectural building design(parts 10 and 11 of article 55.16 of the Civil Code of the Russian Federation)

Table 2. The amount of contribution to the KF VV and KF ODO per one member of the SRO in the field of construction, reconstruction, overhaul of capital construction facilities (parts 12 and 13 of article 55.16 of the Civil Code of the Russian Federation)

Consider on specific example the amount of contributions to the funds for participation in procurement. For example, the NMCC purchases for the overhaul of a capital construction facility amounted to 510 million rubles. The winner of the competitive purchase offered a price of 480 million rubles. Then the level of responsibility in his extract from the register cannot be lower than the second level. The contribution that the winner made to the CF BB must be at least 500 thousand rubles, and the minimum contribution to the CF ALC for him is 2.5 million rubles.

The procurement documentation must indicate that the price offered by the participant cannot be higher than the level of responsibility in accordance with contributions to the funds.

To check the extract of the participant from the register, the customer can send a request to the SRO about the accuracy of the data. It must be provided to the customer within 3 working days after the request has been received.

The form of such an extract was approved by the order of Rostekhnadzor dated February 16, 2017 No. 58.

What to require from participants when purchasing construction and repair work

From July 1, 2017, customers must take into account changes in urban planning legislation when preparing procurement documentation - instead of an SRO certificate, require participants to extract from the register of members of a self-regulatory organization. I will tell you in detail what uniform and additional requirements to establish for participants in the procurement of construction and repair work and for whom the law provides for exceptions.

For any procurement, the customer is obliged to establish uniform requirements for procurement participants from Law No. 44-FZ. What uniform requirements to establish when purchasing construction and repair work, and how to confirm that the participant meets the requirements, see the table:

A declaration that the participant meets the uniform requirements and an extract from the register of SRO members are submitted as part of the application.

In which case to require SRO

When purchasing works for construction, reconstruction, overhaul and NMTsK exceeds 3 million rubles, establish a requirement that the procurement participant must be a member of a self-regulatory organization. An exception is cases where SRO membership is not required in accordance with part 2.2 of Article 52 Urban Planning Code RF. Write in the procurement documentation that the participants must confirm the membership of the SRO. Require that, as part of the application, participants submit an extract from the register of members of the SRO. The rules have been operating since July 1, 2017 - articles 46.8, 52, 55.17 of the Town Planning Code of the Russian Federation.

Rostekhnadzor established the form of an extract from the register of SRO members. To check if the statement information is correct, request the member's details from the SRO. At the request of the interested person, the organization is obliged to submit an extract from the register of SRO members within three working days from the date the request was received. The validity of the extract is one month from the date the document was issued (part 4 of article 55.17 of the Town Planning Code E if the NMCC is less than 3 million rubles, it is impossible to require that the procurement participant be a member of the SRO in the field of construction, reconstruction, overhaul of capital construction facilities (part 2.1 of article 52 of the Town Planning Code of the Russian Federation).

If you require an extract from the register of SRO members, set two requirements in the procurement documentation.

Requirement 1. The self-regulatory organization must be registered in the same entity as the participant.

Rationale: only individual entrepreneurs and legal entities that are registered in the same subject of the Russian Federation in which the SRO is registered can be members of a self-regulatory organization. The regional principle of membership in the SRO does not apply to designers and surveyors. This is stated in part 3 of article 55.6 of the Town Planning Code of the Russian Federation.

Requirement 2. The price offer of the participant should not exceed the level of responsibility of the SRO member from the extract. We are talking about liability for obligations under construction contracts, which are concluded as a result of competitive procedures. Depending on the level of responsibility, a member of the SRO makes a contribution to the compensation fund for securing contractual obligations.

How to choose an SRO in the financial market and not make a mistake? (Shchegolikhin D.A.)

Article placement date: 02/11/2016

The question posed in the title of this article is of concern today to tens and hundreds of thousands of Russian organizations operating in the financial market: brokers; dealers; managers; depositaries; registrars; joint-stock investment funds and management companies of investment funds, mutual investment funds and non-state pension funds; specialized depositories; non-state pension funds; insurance organizations; insurance brokers; mutual insurance companies; micro financial institutions; credit consumer cooperatives; housing savings cooperatives; agricultural credit consumer cooperatives; forex dealers (hereinafter referred to as financial organizations).

Why?
Federal Law No. 223-FZ of July 13, 2015 "On Self-Regulatory Organizations in the Financial Market and on Amendments to Articles 2 and 6 of the Federal Law "On Amendments to Certain legislative acts Russian Federation"(hereinafter - Law N 223-FZ) obliges almost all financial organizations to become members of a self-regulatory organization, the type of which corresponds to the type of activity carried out by such a financial organization.

When?
The deadlines for joining the SRO are calculated as follows.
Unless otherwise provided by federal law relevant to the relevant type of financial organization, a financial institution is obliged to join an SRO within 180 days from the date the non-profit organization receives the status of a self-regulatory organization of the corresponding type in the absence of a self-regulatory organization of the corresponding type by that day (part 4 of article 8 Law N 223-FZ). Non-profit organization acquires the status of a self-regulatory organization from the date of entering information about it in the unified register of self-regulatory organizations in the financial market (hereinafter also - Single register) (part 6 of article 3 of Law N 223-FZ).
Simply put, for financial organizations of each type, the countdown begins from the date when the Bank of Russia enters the first SRO of the corresponding type of activity of financial organizations into the Unified Register.
Here it is important not to confuse the existing specialized registers of specific financial organizations with the newly created unified register of self-regulatory organizations in the financial market.
For example, it has long been State Register self-regulatory microfinance organizations. As of the date of preparation of this article, it includes three SROs of microfinance organizations. However, these SROs are not self-regulatory organizations in the financial market in the context of the provisions of Law N 223-FZ, since they are not included in the new Unified Register.
To get into the Unified Register, you must submit a corresponding application to the Bank of Russia along with a whole list of documents (part 7 of article 3 of Law N 223-FZ). At the same time, the organization - a candidate for inclusion in the Unified Register must comply with special requirements (part 4 of article 3 of Law N 223-FZ).
Law N 223-FZ comes into force on January 11, 2016. There is a possibility that particularly impatient SROs in a hurry to get new status and authorities, will submit the relevant applications to the Bank of Russia without waiting for the specified date, counting on the reduction of the established 30-day period for consideration of the application, which, at the discretion of the regulator, can be further extended by another 30 calendar days(Part 10, Article 3 of Law N 223-FZ).
Thus, it is likely that information about the first SROs will be entered into the Unified Register as early as late January - early February 2016. And it is from this date that the countdown will begin for financial institutions of the corresponding type, which will end around July-August 2016.
It should be noted here that on January 11, 2015, self-regulatory organizations of consumer credit cooperatives that have been operating in the status of a self-regulatory organization of credit consumer cooperatives established in accordance with Federal Law of July 18, 2009 N 190-FZ will be automatically entered in the Unified Register. "On credit cooperation" (part 4 of article 33 of Law No. 223-FZ). Thus, for the majority of credit consumer cooperatives, the choice of SROs, in fact, is postponed until January 11, 2017, when only three SROs of the corresponding type will remain in the Unified Register (instead of the current nine).
So, for most financial institutions, the deadline for making a decision on joining the relevant SRO will come no earlier than mid-July 2016, and most likely much later.

What for?
A lot has been written about the goals of introducing self-regulation mechanisms in financial markets.
In Law N 223-FZ, with the elegance inherent in legislators, the goals of the activities of self-regulatory organizations are defined as follows:
1) development of the financial market of the Russian Federation, assistance in creating conditions for effective functioning financial system the Russian Federation and ensuring its stability;
2) implementation of the economic initiative of the members of the self-regulatory organization;
3) protection and representation of the interests of its members in the Bank of Russia, federal bodies executive power, executive authorities of the constituent entities of the Russian Federation, bodies local government, courts, international organizations.
For many financial institutions, which are mostly concerned with the practical consequences of joining the SRO, only the third of the designated goals is of significant importance.
A cumulative analysis of the provisions of Law N 223-FZ allows us to conclude that the legislator has laid the foundations for establishing additional regulatory, administrative and supervisory functions and mechanisms in relation to financial organizations.
The explanation that lies on the surface is that the Bank of Russia is objectively unable to perform its supervisory functions in a quality and full manner in relation to all participants in financial markets. That is why a significant part of the supervisory functions should be taken over by self-regulatory organizations.
Individual specialists and experts point to deeper and hidden motives for the introduction of self-regulation mechanisms - desire big business get official and legal methods of dealing with small competitors. Whether this is so - time will tell.

What will happen?
Having carefully studied the provisions of Law N 223-FZ, one can determine the approximate scale of future changes in regulation in financial markets.
What will be in the competence of the SRO? In fact, this is another supervisory body, perhaps more loyal than the employees of the Bank of Russia, constrained in decision-making by a long list of instructions, instructions and regulations.
The SRO is responsible for the development of unified basic standards for the relevant type of activity of financial organizations, which will apply to all financial organizations of the corresponding type without exception. These are, in particular, the following standards:
1) risk management;
2) corporate governance;
3) internal control;
4) protection of the rights and interests of individuals and legal entities- recipients of financial services provided by members of self-regulatory organizations;
5) making transactions in the financial market.
The specific types of standards required for each type of activity will be determined by the Bank of Russia.
The developments of SROs must be agreed with the special standards committee at the Bank of Russia and submitted for approval and implementation by the Bank of Russia.
Based on the procedure and terms for the development and approval of basic standards provided for by Law N 223-FZ, it can be predicted that the basic standards will be approved around the end of 2016 - early 2017.
In addition to the basic standards, each SRO is required to develop and approve the following internal standards:
1) the procedure for conducting SRO audits of compliance by its members with the requirements of the legislation of the Russian Federation, Bank of Russia regulations, basic standards, internal standards and other internal documents of the SRO;
2) conditions for membership in the SRO, including the amount or procedure for calculation, as well as the procedure for paying the entrance fee and membership fees;
3) a system of measures of influence and the procedure for their application for non-compliance by members of the SRO with the requirements of basic standards, internal standards and other internal documents of the SRO;
4) business reputation requirements officials SRO;
5) rules professional ethics SRO employees.
The greatest practical interest for financial organizations is the internal standard that establishes the procedure for conducting audits of the activities of SRO members (both field and documentary).
No less interesting should be the internal standard that defines the system of measures of influence and the procedure for their application in relation to members of the SRO. Simply put, we are talking about the response measures applied by the SRO in relation to its members who have committed certain violations.
Among such response measures, Law N 223-FZ names the following:
1) presenting a demand to eliminate violations;
2) issuing a warning;
3) imposition of a fine;
4) exclusion from SRO members;
5) other measures established by the internal documents of the SRO.
The amount of the fine imposed is established by the internal documents of the SRO and does not have any limits (!!!). It remains only to rely on the reasonableness and good faith of the persons who will develop and approve the relevant internal documents.
Another significant authority of the SRO may be the right to receive reports from members of the SRO. The decision to delegate this authority to the SRO (as well as to determine the list and volume of reports to be received) is made by the Bank of Russia following the consideration of the relevant SRO request and after the procedure for agreeing with the Bank of Russia on an estimate confirming the possibility of the SRO to perform the relevant functions.
Most likely, SROs will treat their members as loyally as possible: as much as possible under the conditions of supervision over the activities of the SROs themselves by the Bank of Russia.
In fairness, it should be noted that joining the SRO, in addition to additional regulation and supervision, will bring a number of indisputable advantages for financial institutions.
So, for example, SRO members may well (and should!) Count on:
- obtaining consulting legal, accounting and technical support, methodological and teaching aids and materials;
- organizing and conducting training seminars and mandatory briefings;
- discounts on the purchase and benefits for the maintenance of specialized software;
- the possibility of disclosing information on SRO resources;
- mailing and notification of innovations and changes in legislation;
- assistance in preparing responses to requests from inspection bodies, as well as during various inspections.
One of the most significant requirements for SROs to be included in the Unified Register is the union of at least 26% of the total number of financial organizations of the corresponding type of activity. In other words, there can be no more than three SROs of each type in the Unified Register.
Compliance with the requirements for a sufficient number of members to be included in the Unified Register, the availability of basic standards approved by the Bank of Russia, as well as requirements for the head of an SRO is not yet mandatory for SROs of market participants valuable papers, management companies, microfinance organizations, non-state pension funds, housing savings cooperatives, agricultural credit consumer cooperatives. In full, these requirements will be presented to the specified SROs from January 11, 2017.

How to be?
The likelihood that the need to join the SRO will be canceled is extremely small. The above deadlines for entry are also unlikely to be postponed.
Therefore, financial institutions now need to start studying the procedure and conditions for joining a particular SRO of the relevant type of activity.
However, in our opinion, there is no need to hurry with the introduction. And that's why...
As of the date of preparation of this article, the vast majority of SROs have not brought their charters and internal documents in line with the requirements of Law N 223-FZ.
When and how exactly this will be done is still unknown.
Whether a particular SRO will take the measures necessary for inclusion in the Unified Register is still unknown.
Whether a particular SRO will comply with the requirements of Law N 223-FZ and whether it will be included in the Unified Register is still unknown.

How to do right choice SRO?
When choosing an SRO, in our opinion, one should be guided by the following SRO parameters, which can be conditionally divided into two groups.
The first group of parameters is marketing, i.e. these are the measures that the SRO takes to attract new members (and we remember the requirements for the number of financial organizations of the corresponding type in the members of the SRO).
These criteria include the following:
- a simplified procedure for joining the SRO (short terms for consideration of applications, a minimum package of documents submitted by the candidate);
- a small amount of entrance and membership fees;
- an active advertising and information campaign designed to increase the recognition of the name, representatives, official symbols of the SRO;
- announced numerous privileges for SRO members;
In our opinion, special attention should be paid to the second group of parameters - real ones. They should be the basis for a conscious, deliberate choice of SROs.
Among the real, weighty criteria are the following:
- inclusion in the governing bodies of SROs of well-known, experienced specialists in the relevant type of activity in the financial markets;
- detailed, executed with a high level legal technique internal documents of the SRO (including the charter) that comply with the provisions of Law N 223-FZ and take into account the specifics of the relevant type of activity in the financial markets;
- active work on the real protection of the interests of financial organizations of the relevant type of activity (for example, the development of adequate basic standards that take into account the interests of more financial institutions of the relevant type of activity);
- the presence among the members of the SRO for a long time of working, well-known financial organizations;
- high-quality information content and functionality of the SRO official website on the Internet;
- high quality consulting support, as well as methodological and educational materials;
- reasonable and justified prices for participation in training events, adequate cost of the software offered and teaching materials(SRO should not make money from its members, they should only pay off the actual and organizational costs).

We sincerely hope that this article will help you make the right choice of a self-regulatory organization in the financial market.