On Aug. 30, RUS CB proposed amendments to depositary reporting.
RUS CB proposed to amend ord 6270-U on the volume, forms, deadlines, and procedure for the preparation and submission of reports by a specialized depository.
Follows, RUS CB Oct. 2022 has published ordinance 6270-U, see rule #128400.
Summary
The ord aims to implement changes to reporting by specialized depositories and aligning reporting with RUS CB accounting/reporting rules for non-state pension funds.
The ordinance amended reporting Form 0420860 "General Information on Specialized Depository Activity" includes a new "Activity Type" section for separate notation of notes related to mandatory pension insurance or non-state pension provision.
The form is supplemented with section 13, providing details on assets handled under specialized depository license for investment funds and non-state pension funds.
It modifies form 0420862 information on specialized depository employees includes modifications in indicator titles related to employee education and personal details.
Adjustments are made to asset and liability valuation indicators per International Financial Reporting Standards due to the discontinuation of IAS 39 from Jan. 1, 2025.
Certain indicators like "Security Maturity Code" and "Issuer Code" are removed.
Also, reporting form 0420872 "Statement on Net Asset Value" has new sections for identification codes and includes additional codes for monetary accounts and deposits.
Effectiveness
The ordinance is expected to enter into force on Jan. 1, 2025 and comments and feedback are expected by Sep. 13, 2023.
Sep. 2024 Update
On Sep. 27, 2024, RUS CB issued ord 6762-U on the volume, forms, deadlines, and procedure for the preparation and submission of reports by a specialized depository
The ordinance enters into force on Jan. 1, 2025.
Regulators
RUS CB
Entity Types
Auditor; Bank; Corp; Depo; Pension
Reference
PR 9/27/2024; Ord 6762-U, 7/24/2024; CP, 8/30/2023; Ord 6270-U, 9/27/2022;
