• Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 5/2/2013

Russia - Registry for REPOs, derivatives, single contract financial agreements 

May 2:   Russian authorities posted a website notice in February 2013 announcing a registry of REPOs, derivatives, and material agreements (e.g., single contracts) of the financial markets.

REPO deals and currency swap deliverables were initial registry targets. Other transactions are to be registered at a later date, but no later than 6 November 2013.

Russian law does not define a “single contract” (material agreement). However, based on a November 2012 information letter, items are recognized as material agreements (i.e., single contracts) if they satisfy certain criteria. Because this definition is viewed as “quite general,” over-the-counter financial market participants may need to verify and determine whether their agreements are subject to registration.

Read a March 2013 report prepared by the KPMG member firm in Russia: Information statement on the commencement of OTC financial transactions registration

©2013 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

The KPMG logo and name are trademarks of KPMG International.

KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.

The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

Direct comments, including requests for subscriptions, to
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.


Share this

Share this


Subscribe to receive the latest TaxNewsFlash email alerts (you must select the option for TaxNewsFlash)

Already a Subscriber? Login

Not a member? Subscribe now

Contact us