Recent Developments of Russian Law

The August issue of the Information Newsletter contains a number of interesting articles discussing the most recent changes in Russian legislation.

The recently adopted law on mediation which enters into effect from 1 January 2011 reinforces the practice that has been followed for some time by parties to disputes wishing to avoid court procedures. Tamara Benidze talks about some aspects of this law.

Dmitry Milyutin has prepared two articles for our readers this month. Thus, Dmitry writes about certain peculiarities of the new law on consolidated financial reporting which became effective on 10 August 2010. This law serves the purpose of enhancing the quality and transparency of financial reporting standards of Russian companies.