Bank of Russia: On cancelling licences of professional securities market participant
The Bank of Russia took a decision to cancel the licences of a professional securities market participant to carry out broker, dealer activity, depository activity and securities management issued to SpektrFinance, closed joint-stock company.
The depository licence is terminated from 29 June 2015. From 29 May 2015, SpektrFinance, closed joint-stock company, is not entitled to open depot accounts and hold securities in nominee accounts. Until 29 June 2015, the Company is obliged to ensure the possibility for its customers to transfer securities to personal accounts in the register of securities owners or to depot accounts in depositories.
The reason to take the decision to cancel the licences was the repeated violations within a year of the requirements of securities legislation of the Russian Federation.
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