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Even though data localisation requirements were already introduced in Russia back in 2015, their effects on cross-border reporting channels in the whistleblowing systems of multinational companies have so far received relatively little attention. Due to the recent increase in the fines for violations, we have compiled the most important questions and answers below:

From 1 July 2020, an experimental legal regime is being introduced in Moscow for a five-year period. The Law is aimed at creating the necessary conditions for the development and introduction of artificial intelligence technologies, and the subsequent use of the results of their application.

On 11 May 2020, a new Bank of Russia Regulation* “On Standards for the Issuance of Securities” (the “Regulation on Issuance Standards”) came into force. The regulator updated this Regulation in line with amendments* to the Federal Law “On the Securities Market”, which came into force on 1 January 2020.

Bryan Cave Leighton Paisner has advised Sberbank Investments LLC on the acquisition of a 50% interest in Mayak LLC and Prima LLC, which are implementing projects related to the construction of a five-star hotel and apartments and Moscow's "Lucky" residential quarter.

On 19 June 2020, amendments* to the Commercial Procedure Code of the Russian Federation came into force, which provide for the exclusive jurisdiction of Russian courts to consider disputes involving Russian individuals and legal entities who are subject to international sanctions.

After an initial wave of euphoria at the prospect of seeing autonomous vehicles (AVs) on our streets and the associated opportunities and new business models that AVs could create, there is now more realism as to what will actually be possible in the short term. One of the main reasons for this shift is the immensely high cost of making self-driving technology ready for the market and for mass production. There are also no internationally recognised, uniform rules or regulations currently governing the circumstances for using AVs on public streets. This adds further complexity to their development and roll out. So while self-driving technology promises a range of benefits for business and society as a whole, significant challenges remain to be overcome on the road to mass adoption. At the very least, legislators need to make sure that the existing regulatory framework does not act as a barrier to technological development in this area.

Debevoise & Plimpton has advised Sberbank on the acquisition of a 75% stake in 2GIS, an international digital maps and city guides company that provides "geo-information and hyperlocal services" to about 50 million users.

The COVID-19 lockdown will not last forever. Some of the Russian regions have already lifted the lockdown regime. Operating both during and beyond the lockdown could throw up novel and unexpected corporate crime and liability risks for businesses. Resuming or increasing business operations as restrictions ease will entail risk.  A resumption plan addressing logistical and operational complexities will be essential, but this should also take account of legal risks as part of overall risk mitigation measures.

Rybalkin, Gortsunyan & Partners has launched the RGP Advocates Bureau, a separate-but-connected legal entity for the firm's dispute resolution/litigation/arbitration lawyers, with the Arbitration practice to be led by former Egorov, Puginsky, Afanasiev & Partners Co-Head of Litigation Dmitry Dyakin, and the Litigation & Investigations practice to be led by Partner Ilya Rybalkin.

After all initiatives for drastic countermeasures to respond to the US/EU sanctions (criminal liability for sanctions compliance, comprehensive import restrictions, liability for cross-border transfer of information relevant for sanctions) ground to a halt for one year, the legislator has now resumed the proposal to establish the jurisdiction of Russian courts over disputes with listed persons.

Russian Knowledge Partner

Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated offices in the UK, the USA and Cyprus.

We advise its clients in many areas of law, including: dispute resolution in Russia and abroad, corporate law, M&A, antitrust issues, project finance and PPP, restructurings and insolvencies, energy and natural resources, property management and privatization, environment, technical regulation and industrial safety, banking and finance, intellectual property, criminal law, real estate and construction, taxation, family and labour disputes, marine and transport law, and international trade and customs.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys that enables thus providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

All News about, and Legal Analysis by, Egorov Puginsky Afanasiev & Partners can be found here.

Firm's website: www.epam.ru


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