On Mar. 18, RUS CB proposed amendments security register rules.
RUS CB proposed ordinance amending regulation 799-P on opening and maintaining holder of the register of securities owners of personal accounts and accounts not designed to record rights to securities.
Follows RUS CB Jan. 2022 issued reg on maintaining securities register, see #160874.
Consultation documents are only available on RUS CB website until comment deadline.
Summary
The ord aims to adjust the reg 799-P in order to optimize the processes implemented in the activities of registry holders, taking into account the practice of applying regulation 799-P and additionally identified needs of users of registry holder services.
The ord proposed to eliminate need to provide the registry holder with a signature of a natural person if the application and questionnaire data are submitted electronically.
It proposed to expand the list of authorized persons entitled to open an account in the name of a legal entity and a government body and remove restrictions on acceptance by the registry of documents certified by a notary of a foreign state/local notaries.
Effectiveness
Comments and feedback are expected by Mar. 29, 2024.
Oct. 2024 Ord Issued
On Oct. 10, 2024, RUS CB issued ordinance 6884-U amending regulation 799-P which enters into force on Nov. 24, 2024 (45 days after its official publication).
Regulators
RUS CB
Entity Types
B/D; Depo
Reference
PR 10/10/2024; Ord 6884-U, 7/27/2024; CP, 3/18/2024; Reg 799-P, 6/29/2022;
Functions
Compliance; Financial; Legal; Record Retention; Registration/Licensing; Reporting; Risk
