On Feb. 21, RUS CB announced non-application of depository rules.
RUS CB published informational letter IN-018-34/13 on non-application of measures to depositories that record rights to securities of foreign issuers until Dec. 31, 2024.
Summary
RUS CB is implementing measures to reduce the regulatory and supervisory burden on depositories handling rights to securities of foreign issuers traded in Russia.
This applies to depositories that fail to meet deadlines for implementing depository activities for depositories recording rights to securities of foreign issuers traded.
Depositories are obliged to inform RUS CB on the planned start date for recording rights to securities of foreign issuers traded in Russia at least one month before.
Effectiveness
The measures are lifted until Dec. 31, 2024.
Oct. 2024 Update
On Oct. 21, 2024, RUS CB published letter invalidating letter IN-018-34/138 on non-application by RUS CB of measures of influence to operators of financial platforms.
Informational letter IN-018-34/138 is considered invalid starting from Jan. 1, 2025.
