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On April 15, 2010 in Moscow there was held a conference “On Observation of the Federal Law dated July 27, 2006 #152-FZ “On Personal Data”, arranged by Association of Russian Banks. FBK was represented at the event by Alexander Chernenko, Auditor of the Audit and Consulting Services to Financial Institutions Department.

According to Alexander Chernenko, the central topic of the conference became discussion of a set of documents on protection of personal data in baking. According to him, set of documents of the Bank of Russia STO BR IBBS constituted the basis for the sector standard, which was supplemented by chapters regulating protection of personal data in banking organizations. “In our opinion, the developed sector standard is a very important step forward, as long as instead of scattered and at times contradicting documents, the banks will get the elaborated and structured set”, the expert noted.

Also the issue of establishing a self-regulatory organization, which is supposed to take a part of functions of regulators in control over compliance of the RF banking system with requirements of Law. However it will be therefore necessary to introduce amendments to the law on self-regulatory organizations.