Bank of Russia: On revocation of banking licence from the credit institution Maima and appointment of provisional administration (4/8/2016)
OREANDA-NEWS. By Order No. OD-1183, dated 8 April 2016, the Bank of Russia revoked the banking licence from the Moscow-based credit institution Settlement Non-Banking Credit Organisation Maima, limited liability company or SNCO Maima LLC (Registration No. 1037-K) from 8 April 2016.
The Bank of Russia took such an extreme measure — revocation of the banking licence — because of the credit institution’s failure to comply with federal banking laws and Bank of Russia regulations, repeated violations within a year of Bank of Russia requirements stipulated by Article 7 (excluding Clause 3 of Article 7) of the Federal Law ’On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism’, as well as Bank of Russia regulations issued in accordance with the said law and application of the measures stipulated by the Federal Law ’On the Central Bank of the Russian Federation (Bank of Russia)’.
Besides, SNCO Maima LLC failed to meet the Bank of Russia regulations on countering the legalisation (laundering) of criminally obtained incomes and the financing of terrorism with regard to the procedure for identification of its customers and credible notification of the authorised body about operations subject to obligatory control. Moreover, the credit institution was involved in dubious transit operations. The management and owners of the credit institution failed to take effective measures to bring the situation back to normal.
By its Order No. OD-1184, dated 8 April 2016, the Bank of Russia has appointed a provisional administration to SNCO Maima LLC for the period until the appointment of a receiver pursuant to the Federal Law ‘On Insolvency (Bankruptcy)’ or a liquidator under Article 23.1 of the Federal Law ‘On Banks and Banking Activities’. In accordance with federal laws the powers of the credit institution’s executive bodies have been suspended.
According to the financial statements, as of 1 March 2016, SNCO Maima LLC ranked 693th by assets in the Russian banking system.