On cancelling licences to carry out broker and depositary activity
On 6 August 2015, the Bank of Russia took a decision to cancel licences of professional securities market participant to carry out broker and depositary activity of the closed joint-stock company InterInvest (TIN 7706145709) (hereinafter, the Company).
The reasons to take the decision on the licence cancellation were repeated violations over the past year of requirements of Article 7 of Federal Law No.
The licence to carry out depositary activity is terminated from 7 September 2015. The company must terminate custody and nominee account opening from 7 August 2015 and enable its customers to transfer securities to current accounts in the register of securities holders or to custody accounts with depositories until 7 September 2015. From 7 August 2015 till 7 September 2015, the Company’s depositors are entitled to issue relevant orders for transfer of their shares under procedure stipulated by the agreement (the Company’s terms and conditions of depositary activity). After this period is expired, the Company must transfer customers’ securities to current account opened in the register of securities holders in compliance with the Russian legislation. In case of failure to execute customers’ orders, their improper execution or the Company’s failure to receive orders for securities transfer, the Company’s depositors are entitled to seek judicial protection and/or to file an application to the law enforcement authorities.
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