The Corporate Governance Department is an independent structural subdivision of the central staff of the Ministry of Economic Development of the Russian Federation, responsible for regulation in the sphere of evaluation activities, state cadastral valuation of lands, insolvency (bankruptcy) and financial recovery, land relations, and state statistical activity.
Within its competence, the Department performs the following functions:
- regulating evaluation activities;
- ensuring cooperation with the National Council on Evaluation Activities on developing state policy in the sphere of evaluation activities, including coordinating projected federal evaluation standards;
- cooperating with federal services and federal agencies controlled by the Russian Economy Ministry on matters related to the activities of self-regulating appraisal organizations, as well as appraisers; state cadastral valuation of lands;
- coordinating and controlling the activities of the Federal Agency for the Management of State Property in its function as an authorized federal executive body in cases specified by the federal laws “On Joint Stock Companies” and “On Insolvency (Bankruptcy).”
- organizing cooperation with the Council on Audit Activities on state audit policy; organizing work to develop state policy and regulation in the sphere of insolvency (bankruptcy) and financial recovery, as well as prevention of bankruptcy;
- organizing work to prepare proposals and regulations in the sphere of business development according to the guidelines for the Department approved by the Economic Development Minister of the Russian Federation;
- organizing work to prepare the analysis and monitoring of socioeconomic processes in the sphere of financial markets, and presenting the respective materials to be included in the Ministry’s quarterly reports; forecasting the development of the financial sector in the short, medium and long term;
- organizing work to prepare draft regulations aimed at improving the technology for the calculation and processing of information necessary for the financial market’s smooth functioning;
- organizing work on preparing proposals to provide legal support for the mortgage lending system, including in terms of land mortgage.