On withdrawal of licences issued to the CJSC Reserve Investment and Finance Company, professional participant of the securities market, to carry out broker and dealer activities and operations to manage securities

The Bank of Russia took a decision to withdraw the licences to carry out broker and dealer activities and operations to manage securities from the closed joint-stock company Reserve Investment and Finance Company (hereinafter referred to as ‘company’).

The reason to take this decision was multiple violations within a year of the requirements of securities market legislation of the Russian Federation including regulations of the federal executive body namely:

The amount of own funds of the company during the 9 months does not correspond to the standards of capital adequacy set by securities market legislation of the Russian Federation.

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15.05.2014 00.00.00