Latham & Watkins LLP (JD Supra Russia)

IT companies face higher fines in Russia for noncompliance with data privacy and content moderation rules. In December 2019, Russia imposed large fines for certain types of violations of the Russian data privacy and content moderation rules. The amendments to the Russian Code of Administrative Offenses (the Law and the Code, respectively) introduced significant penalties for data controllers...

Considerations for companies seeking to leverage sustainable finance in Russia and the CIS. Environmental, social, and governance (ESG) and sustainable finance became a more pressing issue in Russia and the Commonwealth of Independent States (CIS) in 2019. However, the spread of sustainable finance in the region is still relatively limited compared with other regions around the world. This...

Considerations for companies seeking to leverage sustainable finance in Russia and the CIS. Environmental, social, and governance (ESG) and sustainable finance became a more pressing issue in Russia and the Commonwealth of Independent States (CIS) in 2019. However, the spread of sustainable finance in the region is still relatively limited compared with other regions around the world. This...

As Russia’s internet law imposes new obligations on technology and infrastructure companies, the Russian government considers subordinate legislation. On November 1, 2019, the majority of provisions of Russia’s internet law (RuNet Law) entered into force. Its principal purpose is to ensure the independent operation, safety, and security of the Russian segment of the internet.

Broadly written rules would allow the Russian government greater central control over content and data flows, and greater access to users’ information. On May 1, 2019, the Russian President signed draft law No. 608767-7, commonly referred to as the Russian Internet Law, or “RuNet Law” (Federal Law No. 90-FZ “On Amending Federal Law ‘On Communications’ and Federal Law ‘On Information,...

Treasury Department Report identifies 114 senior political figures and 96 oligarchs, and confirms that the Report is not a sanctions list - On January 29, 2018, the Treasury Department submitted a report to the US Congress (the Report), as required by Section 241 of the Countering America’s Adversaries Through Sanctions Act (CAATSA). President Trump signed CAATSA into law on August 2, 2017....

Russia has adopted a new law further toughening the country’s Internet-blocking regime and introducing a number of restrictive measures applicable to intermediaries providing access to blocked websites, IT networks, and information resources (hereinafter, “Blocked Websites”). The relevant provisions of Federal Law No. 276-FZ dated July 29, 2017 (the “Anonymizers Law”), came into force on...

Acquisition and leveraged finance is a fascinating area for lawyers, both inherently and because of its potential for complexity arising out of the requirements of the acquisition process, cross-border issues, regulation and the like. It can also cut across legal disciplines, at times requiring the specialised expertise of merger and acquisition lawyers, bank finance lawyers, securities lawyers,...

The Federal Law No. 87-FZ of May 1, 2017, on Amendments to the Federal Law on Information, Information Technologies, and Information Protection (the Law) came into force on July 1, 2017. The Law introduces the definition of an audiovisual service owner and regulates their activities, including imposing ownership restrictions.

The State Duma, Russia’s lower chamber of Parliament, has adopted amendments to the Federal Law on Information, Information Technologies and Information Protection of the Russian Federation (the Law) in its first reading. Under the proposed amendments, messaging apps would be required, among other things, to verify users through their telephone numbers and to distribute certain text messages at...

On July 6, 2016, Russian President Vladimir Putin signed Federal Law No 374-FZ. This law is also known as the “Yarovaya” law (named after a Russian senator who was the main driving force for the law to come into existence). The Yarovaya law introduces amendments to certain Russian federal laws. The majority of the amendments came into effect on July 20, 2016, however, some of the...

While the CIS nations have recently provided a multitude of sizeable restructuring cases, the region’s dominant force, Russia, has stood up reasonably well to lengthy economic decline, economic sanctions and the collapse of oil and gas prices. There are now signs however, that its complex troubles are pushing certain companies towards a restructuring or insolvency position.

On July 13, 2015, the Russian President signed Federal Law No. 264-FZ (the Law), which introduced a range of amendments into Russian legislation (the Amendments). In particular, the principle of the “right to be forgotten”, a concept not previously recognized under Russian law came into effect on January 1, 2016.

Since the proposal of Federal Law No. 526-FZ (the Law) in December 2014, the Russian data protection regulator (Roscomnadzor) has not issued any official comments on the application of the new Law. Roscomnadzor did recently hold several meetings with a number of representatives of major IT companies in Russia to make sure that these companies will be ready to comply with the new requirements by...

Introduction – Restructurings are likely to be a major topic in the Russian Federation during 2015 and beyond. From a legal perspective, the legislation pertaining to restructurings and insolvencies has benefited from a number of positive developments in recent years. In particular, the amendments which were introduced into the Civil Code1 at the end of 20132 (the Civil Code Amendments)...

Why international commercial arbitration? Expansion and globalization of international investment and trade have led to an increase in the number of complex commercial relationships between companies, investors and states. Some of these relationships will inevitably collapse, and the parties have to provide (preferably at the beginning of their relationship), the most effective methods of