On Jan. 19, RUS CB extended support measures for depositaries.
RUS CB issued informational letter on support measures for depositaries in Russia.
Summary
Due to instances of unauthorized removal of foreign securities from the account of a person acting on behalf of others, with a depositary opened in a foreign organization.
RUS CB announced that it will refrain from applying measures until Dec. 31, 2024.
RUS CB clarified that the measure applies to depositaries violating the requirement specified in subclause 2 of clause 11 of ar 8.5 of law 39-FZ on the securities market.
The exemption is contingent upon the increase in the number of foreign securities in the depositary's accounts being a result of the imposition of restrictive measures by foreign states, international organizations and foreign financial organizations.
