Related Party Transactions: International Experience and Russian Challenges

This report presents background information to participants of the OECD Russia Corporate Governance Roundtable organised for the 19th November 14 in Moscow, Russian Federation.

The report addresses the issue of related party transactions on an international scale and in Russia. It outlines the international context in which related party transactions are regulated across jurisdictions.

The perspective of the OECD Principles on Corporate Governance is presented and the main elements dealing with related party transactions are described, including definitions of related parties, approvals and disclosure. The report presents the current Russian legislation and identifies key shortcomings illustrated by a number of abusive related party transactions cases. The history of the recent reform initiatives in Russia is also addressed in the report.

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