On Mar. 6, RUS CB proposed rules on managing investment profiles.
RUS CB proposed ordinance amending regulation 482-P on managing securities and monetary funds in line with investment profile of the investor.
Consultation documents are only available on RUS CB website until comment deadline.
Summary
The ord aims to ensure a more individualized approach to securities management.
Trustees must take an individual approach to their clients when constructing portfolios, accounting for their financial situation, education/experience in the securities market.
Changes proposed by the ord include modernizing requirements for securities management, such as excluding ability to manage multiple clients under unified rules.
As well as introducing restrictions on the acquisition of certain financial instruments.
Law 600-FZ changes the order of repayment of loan payments if the borrower has insufficient funds and it has entered into force from Jan. 1, 2024, see rule #195548.
The law allows management companies of unit investment funds to open individual investment accounts of the third type, enabling investors to utilize tax benefits.
In addition, changes have been added to the procedure for determining investment profile of management founders, specifying the risk that a founder may bear.
Changes include restrictions on acquisition of certain financial instruments and exclusion of the manger's right to carry out activities per standard investment profile.
Effectiveness
The ord is expected to enter into force from Apr. 1, 2025; comments and feedback are expected by Mar. 19, 2024.
Oct. 2024 Ord Issued
On Oct. 11, 2024, RUS CB issued ord 6781-U amending regulation 482-P on managing securities and monetary funds in line with investment profile of the investor.
The ordinance enters into force on on Jan. 1, 2025.
Regulators
RUS CB
Entity Types
CNSM; Fiduciary; IA; Inv Co
Reference
PR 10/11/2024; Ord 6781-U, 7/28/2024; CP, 3/6/2024
