IICJ Paper Personal Data Legislation in Russia Tatiana Egorova, Unit Head of Legal support of loan transactions, CB "Garanti Bank-Moscow" (ZAO), Russia

Russia’s Personal Data law may be only 6 years and a few months old, but as Tatiana Egorova demonstrates, extracting substantial parts of the relevant legislation, it is already a significant body of law. This article will be of particular interest to those working with the Russian aviation, banking and telecoms sectors. Until a few years ago Personal Data legislation did not exist in Russia, however in the last 6 years there have been significant changes in legislation. The Federal Law of July 27, 2006 N. 152-FZ “On Personal Data” that regulates personal data issues entered into force on January 29, 2007. The Law has since been considerably changed by amendments that came into force in July 2011, and the latest amendments were introduced in April 2013. Information systems should have been technically adjusted to be in compliance with the Law starting July 2011. Almost all Russian legal entities find it hard to comply with Personal Data legislation requirements. Supervision standards imposed by regulatory bodies are very strict, while implementation of all legislation requirements is a long-term money consuming project, thus causing some legal entities to postpone its introduction.
Author
Tatiana Egorova
Tatiana Egorova is the Unit Head of legal support of loan transactions of the Legal Department of Commercial Bank “Garanti Bank - Moscow” (ZAO). In 1998 she graduated from Moscow State University for International Relations (MGIMO) - the best University in Russia, that trains professional personnel for the Government of the Russian Federation to work with the international community. MGIMO is Russia's most prestigious educational institution for young people with international interests. Tatiana Egorova is anexperienced in-house lawyer with 16 years of experience in banking sphere specialising in corporate, lending, and specific legal requirements set by the Bank of Russia for banks. Her career path also includes 8 years at the subsidiary of the German Bank WestLB AG – Bank WestLB Vostok (Moscow). In 2007 she played an important role in successful completion of the bank’s charter capital increase. During her work in WestLB she managed to file submissions for approval of positions with the Bank of Russia for 7 top managers 3 of which were foreign citizens. WestLB was forced to close their activity in Russia and all over the world due to the global financial crisis
Company
CB "Garanti Bank-Moscow" (ZAO)
Commercial Bank “Garanti Bank - Moscow” (ZAO) was established in Moscow in 1995. CB “Garanti Bank - Moscow” (ZAO) is owned by Turkie Garanti Bankasi A.S. that is Turkey’s second largest private bank. Garanti Bank - Moscow provides corporate customers with both cash and non-cash credit facilities in order to support its clients' working capital financing based upon the customers’ business needs. Tatiana Egorova has been working at the Commercial Bank “Garanti Bank - Moscow” (ZAO) for almost 5 years.
Country
Russia More
Area of Law
Data Protection More
Business Sector
Banking & Finance More
Month Published
January 2014 More
Edition
Vol. 7, No. 26, Winter 2014 More
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