Bank of Russia’s new procedure for unit investment fund register

The Bank of Russia has published a regulation setting forth a procedure whereby it maintains the register of unit investment funds. The regulation becomes effective in ten days of its publication.

Beginning from 23 January 2020 and in connection with amendments to the law ‘On Investment Funds’ becoming effective, the register contains records on both unit investment funds which are subject to trust management rules registered by the Bank of Russia and those governed by trust management rules concurred with specialist depositories.

The Bank of Russia ordinance sets out the exhaustive list of documents based whereupon the regulator maintains records in the unit investment fund register and specifies the timeframes of including (striking off) data on a unit investment fund in (from) the register.

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