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Step by step towards greater transparency of ARMA register

12-03-2024

 

ARMA continues its extensive work to improve the functioning of the Unified State Register of Assets Seized in Criminal Proceedings (USRSA).
Firstly, the USRSA software was brought in line with the amendments to the ARMA Law.

In particular, the following options have been added:

- entering information on recognition of unjustified assets and their recovery into the state revenue;

- a new module has been added that allows tracking information on the purchase of "War Bonds" at the expense of funds placed on ARMA's accounts in the national currency (number, cost, date of purchase and maturity, date and amount of coupon accrual income).

Secondly, the functions of the Unified State Register of Assets Management have been improved, which are responsible for providing more detailed information on asset management processes, as well as its managers, in particular:

  1. The module "Management under Contract" has been improved - the ability to find court rulings transferring ARMA assets for sale has been added.
  2. The Contractual Management module has been modified in terms of the possibility of adding additional arrangements to the management agreement (changing the term of the agreement, adding or removing assets from the agreement).
  3. The section "Competitive selection of the manager" has been improved - a checkbox "date of the end of the competitive selection" has been added to provide up-to-date information on competitive selections.
  4. Improved information posting on management measures - information on all asset management measures taken by ARMA is now available, instead of the last measure, as it was before.
  5. To ensure transparency and accountability, information was also made available on the Cabinet of Ministers' resolution approving the volume of domestic bonds and the ARMA's decree on the purchase of domestic bonds.

Currently, is being considered the possibility of including links to relevant information on external resources (announcements of competitive selection of managers, conclusion of an asset management agreement, transfer of assets for sale, Cabinet of Ministers' resolutions and ARMA's decree on the purchase of military bonds) in the USRSA.

It is worth to mention that the process of improving and expanding the functions of the Register is one of the main tasks of ARMA specialists, who work on it constantly.