On Jun. 17, RUS CB proposed new securities market regulation.
RUS CB proposed ordinance amending ordinance 4373-U on the requirements for the own funds of professional participants in the securities market.
Consultation documents are only available on RUS CB website until comment deadline.
Summary
Due to sanctions of foreign states and depository organizations are forced to change established depository chains for accounting for foreign securities, per ord 5311-U.
The ord establishes that for securities held in a foreign organization that is a registrar in accordance with its law or a foreign issuer that keeps a register of its securities holders, a coefficient "0" will be used when calculating MRSS due to low custodial risk
For securities held in a foreign organization that meet the criteria set out in ord 5311-U but has not been registered as a registrar or issuer, a coefficient "0" will be used when calculating MRSS, as they are held on restricted accounts due to recent sanctions.
Effectiveness
Comments and feedback are expected by Jun. 30, 2024.
Nov. 2024 Ord Issued
On Nov. 19, 2024, RUS CB issued ord 6866-U amending ord 4373-U on requirements for funds of professional participants in the securities market, effective Jan. 1, 2025.
Regulators
RUS CB
Entity Types
Bank; CNSM; Depo; Inv Co
Reference
PR 11/19/2024; Ord 6866-U, 9/27/2024; CP, 6/17/2024; Ord 4373-U, 5/11/2017
