On 17/03/2023 the US Office for Foreign Assets Control (OFAC) issued the license to unblock and release over 90 banking operations originated by the bank – client of LINNIKOV & PARTNERS. The decision of the US regulator is truly unprecedented, because, according to the OFAC’s policy, its general rule is to consider exclusively individual applications for unblocking and processing of each suspended banking operation, regardless of the number of operations and amounts of blocked funds of each single applicant.
On 16/03/2023, Alexander Linnikov was unanimously elected as the new Chairman of the Governance Board of the Non-profit Partnership “National Payment Council” (NPC). Also, the new Board of Directors of the NPC was elected — it now consists of the Executive Vice-President of the Russian Union of Industrialists and Entrepreneurs Alexander Murychev, Public Commissioner for the Protection of Rights of Entrepreneurs in the City of Moscow Tatiana Mineeva, Chief Compliance Officer of AK BARS BANK Sergey Meshalkin and Professor Alma Obaeva, who has worked as the Chairperson of the NPC for the past 10 years.
On 14/03/2023 several clients of LINNIKOV & PARTNERS received official notices that the review of their applications for permissions (licences) for the transfer of their securities from the account of the National Settlement Depository (NSD) with the Euroclear Bank is now in progress. The messages were sent from the official e-mail address of the Belgian Ministry of Finance and contain information on the attribution of reference numbers to the applications and the possibility to submit necessary amendments.
On 07/03/2023 spoke from the pages of the ADVOCATES’ GAZETTE on the recent Decree of the Supreme Courts of Russia of 14/02/2023 that touched on the crucially important matter of distribution of liability between a bank and its employee acting in bad faith for damages caused by the violation of property rights of a citizen.
