The Bank of Russia has annulled the depository license of IK Title Broker LLC, a professional securities market participant. This action took effect on April 10, 2025.
The cancellation arose due to the company’s non-compliance with specific economic measures outlined in Executive Order No. 138, issued by the President of the Russian Federation on March 3, 2023. These measures are related to securities trading and are pursuant to Federal Law No. 281-FZ, dated December 30, 2006, concerning special economic measures and coercive measures.
IK Title Broker LLC’s depository license will be considered null and void from April 11, 2025. However, the company is required to cease its depository activities in the securities market, with the exception of operations necessary to fulfill its obligations to clients stemming from prior depository activities. Additionally, the company must ensure that clients have their assets returned by August 11, 2025.
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