July SPARK - Interfax Updates
MEDIA AND RISK MONITORING
The first signs of mounting business problems frequently appear in the press, long before they are legally documented. Due diligence based on media materials makes it possible to respond to negative events in a timely manner, avoiding not only financial losses, but also potential claims from government bodies. This year we have expanded the function for assessing the reputational risks of counterparties in SPARK by granting our subscribers with access to a bigger volume of data from SCAN media analysis and reputation management system (scan-interfax.ru).
PUBLICATIONS IN MEDIA SECTION
The News and Media Articles section has been transformed into Publications in Media with expanded data in this module:
ASSESSMENT OF BUSINESS REPUTATION SERVICE
SPARK functions have been supplemented with a new service for analyzing business reputation and early detection of risks based on media materials.
Extended module capabilities:
New risk factors
The list of “Factors Requiring Attention” has been expanded for the purposes of helping businesses comply with legal requirements, enriching data about business activity, integrity and potential risks of companies and individual entrepreneurs.
NEW REGISTERS:
1. Agricultural Charter?(7,500 members)
2. Haulage Charter?(4,500 members)
3. Anti-corruption Charter?(2,200 members)
4. Unified Register of Developers?(4,300 members)
5. Developers whose properties are included in the register of problem debts
领英推荐
6. Organizations that have waived bankruptcy moratorium* (ca. 3,500 companies and individual entrepreneurs)
* The Russian government introduced a six-month bankruptcy moratorium on April 1, 2022. The moratorium does not apply to the aforementioned categories of businesses.
FACTOR SIGNALING THE POSSIBILITY OF FINANCIAL PROBLEMS ARISING:
7.“There are enforcement proceedings, returned to the claimant” *
* Introduced for companies whose latest enforcement proceedings (at least three in three years) ended with the return of enforcement documents for any reason: impossible to determine whereabouts of debtor or his property, or there is no property subject to foreclosure.
FACTOR FOR ASSESSING THE RELIABILITY OF INDIVIDUALS:
8. “Changing the location of tax registration more than twice in a calendar year”- for private entrepreneurs (same factor applies to legal entities)
PAYMENT DISCIPLINE
Payment discipline indicators have proven effective for detecting the first signs of deterioration of the state of a business and predicting its possible bankruptcy in the coming months. This prompt source of information has developed rapidly in 2022.
DATA ENRICHMENT
The list of participants in "SPARK-Payment Monitoring,” the nationwide program of voluntary exchange of information about payment discipline, has been expanded since the beginning of the year. The volume of data supplied to SPARK has increased – mainly due to housing and utilities providers.
* PDI is calculated if there are at least two invoices posted by different providers of information.
EARNINGS REPORTS FOR 2021
Financial statements of large and medium Russian businesses were uploaded to SPARK.?2.1 million legal entities have disclosed financial results for the year: