On revocataion of investment fund management licence and appointment of provisional administration
On 24 October 2014, the Bank of Russia took a decision to revoke a licence to manage investment funds, unit investment funds, and non-government pension funds issued to the Limited Liability Company Devon Management Company (hereinafter the Management Company) (the abbreviated name: LLC Devon Management Company; location address: Bld. 4, 26, Prospekt Mira, 129090 Moscow; PSRN: 1117746020314; TIN: 7702751120; Licence No.
The grounds for the revocation of the licence issued to the Management Company were:
the repeated within the year failure by the Management Company to comply with Bank of Russia instructions while making licensed operations;
the repeated within the year 15 business-day delay by the Management Company in presenting reports stipulated by federal laws and Russian legal acts issued under them while making licensed operations;
the repeated within the year failure to comply with requirements for information dissemination, provision and disclosure specified by federal laws and Russian legal acts issued under them, including Bank of Russia regulations, while making licensed operations;
the termination of managing Management Company’s current operations.
The Bank of Russia appointed a provisional administration to the Limited Liability Company Devon Management Company and suspended the powers of executive bodies.
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27.10.2014 00.00.00