On Nov. 20, RUS CB decided to extend or end a number of measures.
RUS CB decided not to extend a number of relaxations in relation to infrastructure organizations of the financial market, which according to the plan will expire in 2023.
An analysis of the practice of applying introduced relaxations allows it to be stated that the measures taken by RUS CB smoothed out negative effects of restrictions imposed by unfriendly states, and allowed financial institutions to adapt to new conditions.
RUS CB plans to only extend relaxations for which factors that previously led to their introduction remain the same and will continue to integrate temporary solutions into regulation that accounts for impact of blocking assets and Russian market specifics.
Measures Ending
Measures ending include the failure to apply enforcement measures against the organizer of trade in goods: transactions via remote terminals deviations.
Non-application of enforcement measures to depositories providing services for recording rights to securities of foreign issuers admitted for public placement.
And/or public circulation in the Russian Federation, in the event of their non-compliance with requirements for the period of implementation of depository activities.
Also, admissibility of one-time sending by specialized depositories notifications on the detection of violations in the activities of the management company of a mutual fund.
As well as opportunity for depositories/register holders owners of securities that are not credit firms to discount value of blocked assets to calculate their own funds.
Measures Extended
The right of the Financially significant organization (FSO) not to disclose information sensitive to sanctions risk, including information about the ownership structure and composition of shareholders, members of governing bodies and officials of the FSO.
As well as affiliates of the FSO and significant conditions for reorganization of the FSO.
The privilege to withhold identities of operators of information systems issuing digital financial assets, including sanction-sensitive details on beneficial owner of the entity.
Application of list of offshore zones approved by RUS CB when assessing persons who can directly or indirectly dispose of shares (stakes) of an individual financial firm.
Non-application of measures against depositories for violation of deadline for crediting securities exclusively in case of discrepancies with superior foreign depositories.
Also, procedure for action depositories when repaying Eurobonds, including in the case of fulfillment in full of obligations under Eurobonds of the Russian Federation.
As well as under corporate Eurobonds in relation to the issue of replacement bonds.
In addition, temporary requirements for depositories managing foreign issuers' securities rights in foreign depositories lacking the criteria established by RUS CB.
And temporary requirements for the activities of registry holders owners of securities in terms of opening and maintaining personal accounts of individual non-residents.
