Bank of Russia revises notification rules for specialized depositories

Central Banks
Elvira Nabiullina Governor of the Central Bank of Russia - Official Website
Elvira Nabiullina Governor of the Central Bank of Russia - Official Website
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Apr 30, 2025
Byfiat reporter
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Specialized depositories in Russia will now only inform the Bank of Russia about significant violations detected in the activities of management companies and joint-stock investment funds. This decision comes after the Bank of Russia delineated cases that do not necessitate any supervisory action, which is expected to ease the operational and administrative load on participants in the collective investment market.

According to the new guidelines, breaches should not be reported to the regulator if they are temporary, technical, or pose no significant risks to the trust management of investment funds’ assets. This change aims to streamline processes and reduce unnecessary oversight for minor infractions.

These updated rules will take effect on May 8, 2025.

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