A bank insider is a natural or legal person who has access to confidential information. Special provisions introduce restrictions that are protected by the laws of our country. If the rules are violated, persons can be brought to criminal or administrative responsibility.
The insider of the bank is translated from English as "inside". This is a person with a benefit, acting in their own interests. He can directly or indirectly obtain any confidential information using his official position. The information obtained can be used both to obtain privileges both in the bank itself and outside it.
Insiders are:
- employees of a financial institution;
- shareholders;
- shareholders;
- members of the Board of Directors;
- members of the audit commission;
- news agencies;
- other persons influencing the share of capital.
Often, close people of the above categories are also referred to as insiders, who can receive and use information at their own discretion.
Does not include inside information that has become available to an unlimited number of people, as well as information obtained on the basis of publicly available research information. The latter is represented by forecasting, appraisal activities, and recommendations.
On a gratuitous basis, information containing confidential information is provided by state authorities upon request. The latter must be signed by an authorized person, indicate the purpose of the disclosure of information and the timing of their provision.
Peculiarities of banks' interaction with insiders
Each financial institution has its own list of insider information. It usually includes information:
- on calling and holding a meeting of shareholders;
- the agenda of the meeting of the Supervisory Board;
- early termination of the powers of the sole executive body;
- holding extraordinary meetings;
- the emergence of controlled organizations;
- customer orders in relation to transactions and contracts, etc.
Each bank draws up a list of insiders. After that, restrictions are imposed on such persons. If they are violated, criminal and administrative liability is possible.
Using the notification system when working with insiders
Such citizens, when using financial instruments in order to make a profit, must submit a notification to the Bank of Russia within 10 days. The reason for this can be both a requirement and an order of a specific financial institution or the Bank of Russia.
In one notification, you can report several transactions at once. If the paper medium consists of several sheets, each of them must be bound and numbered. A citizen signs each page before sending the official paper.
Insiders can be not only individuals, but also legal entities. In this case, the document is supported by a seal, certified by the signature of an authorized person.
Procedure for access to information
Access to such information is allowed only to persons who are designated in a special list. Usually, labor, civil law contracts are concluded with such citizens. The rules for the use of information and restrictions can be spelled out in job descriptions or additional agreements.
Control over the observance of the indicated rules is entrusted to special information technology security departments. They monitor compliance with the established confidentiality regime, take measures aimed at hiding certain information from access to a wide range of people.
The bank is responsible for providing the necessary technical and organizational conditions for compliance with the regime. At the same time, he can carry out special procedures aimed at protecting information. These include technical protection, restricting access by unauthorized persons, protecting the workplaces of specialists and areas in which documents are stored.
In conclusion, we note: sometimes a person accidentally gains access to insider information. In this case, he must stop familiarizing himself with it, take all possible actions to keep it confidential.
