From January to September 2025, the Bank of Russia identified several violations by professional securities market participants (PSMPs) of executive orders issued by the Russian President. These orders regulate transactions with non-residents and are intended to maintain financial stability in the country.
The regulations that were violated include Executive Order No. 81 from March 1, 2022, which outlines additional temporary economic measures for Russia’s financial stability; Executive Order No. 95 from March 5, 2022, on procedures for meeting obligations to certain foreign creditors; Executive Order No. 138 from March 3, 2023, regarding securities trading; and Executive Order No. 520 from August 5, 2022, which imposes special economic measures in response to actions by certain foreign states and international organizations.
As a result of these violations, the Bank of Russia has imposed fines totaling more than ₽20 million on five financial institutions operating as PSMPs. Additionally, licenses have been revoked for three depositories.
The Bank of Russia stated: “The Bank of Russia will continue to closely monitor PSMPs’ compliance with the requirements of the anti-sanction regulation and publish information about the violations identified and penalties imposed on its website.”
This action reflects ongoing efforts by Russian authorities to enforce compliance among financial institutions amid continuing foreign sanctions.
