The Bank of Russia is set to enhance the quality and relevance of issuers’ reports by releasing proposals for public discussion. The regulator aims to eliminate redundant information in these reports, which are currently required twice a year. The Bank suggests that sections not needing frequent updates, such as corporate governance, should be included in an annual report instead.
Furthermore, the Bank of Russia plans to standardize the content of these annual reports by introducing mandatory sections that issuers can organize at their discretion. At present, there are no strict content requirements other than the obligation to publish them.
Another proposal involves synchronizing the publication of an issuer’s consolidated financial statements with its report detailing reasons for reported results. This simultaneous disclosure is intended to provide the market with timely information on a company’s performance.
A significant initiative proposed is shifting from manual report preparation to electronic formats. Utilizing machine-readable formats is expected to expedite data processing and analysis, thereby aiding investors in making informed decisions based on high-quality information.
The public discussion on these initiatives will remain open until August 1, 2025.
