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The list of documents for an individual securities unblocking licence

29 ноября 2022
The Bank of Russia has sent a letter to professional market participants with a list of documents needed to apply independently for an individual securities unblocking licence:
  • a person's agreement with a broker and a Russian depositary
  • an agreement between a broker and a Russian securities depository (if it is not the same person);
  • an agreement between the Russian securities depository and NSD (National Settlement Depository);
  • confirmation letter from the broker (in any form);
  • a description of the blocked assets (specifying the locations and chains of custody, if there is information on such chains);
  • statements of securities accounts of securities holders;
  • brokerage reports confirming the purchase of securities by the clients themselves prior to the effective date of the sanctions.
As a reminder, investors whose securities, dividends and coupons were held with NSD and frozen with Euroclear and Clearstream have until 7 January 2023 to apply to the national competent authorities of Belgium and Luxembourg for permission to transfer securities and funds to accounts with institutions not subject to sanctions. In fact, the deadline will be even shorter in view of the Christmas holidays in Europe. So far, there have been known cases of coupon payments being unblocked.

The Nadmitov, Ivanov & Partners law firm advises on dealing with the competent authorities in Belgium and Luxembourg to obtain authorisation from the competent authority to unblock securities, ETFs, dividends and coupon payments at Euroclear and ClearStream.

Email: info@nplaw.ru
Tel: +7 (495) 649-87-12

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+7 (495) 649-87-12