From April 1, 2023, the Bank of Russia is changing the rules for unskilled investors to purchase securities from issuers of friendly countries if they are accounted for in an unfriendly depository. Referring to the instruction of the regulatory reports on this TASS.
According to the new rules, the broker has the right to execute the client’s order only if he has notified him of the possible blocking of such securities in the future. Before each transaction, messages can be sent to the customer using push notifications or the agent can inform him once about the purchasing rules and get approval to accept the risk.
From March 21, 2023, admission to the organized trading of the new foreign stock exchange PJSC SPB Exchange allowed unskilled investors if they were accounted for by a hostile depository.
It was previously reported by the Central Bank. elongated a six-month ban on the sale of securities of unfriendly countries to unskilled investors.
Before that, it was known that the Central Bank of Russia. elongated Restrictions on foreign transfers of non-residents’ funds from broker and trustee accounts from non-friendly countries. The restriction was introduced for one year from April 1, 2022. It has been extended for another six months from April 1 this year.