OREANDA-NEWS. July 03, 2015. Bank of Russia took a decision to cancel licences of professional securities market participant to carry out broker, dealer and depositary activity, and securities management of Aurora Capital, limited liability company (hereinafter, the Company).

The reason to take the decision on cancelling licences was repeated violation within one year of the requirements of Russian securities legislation, including the Company’s misrepresentation of information to the Bank of Russia, and failure to provide correct postings of customers’ depot accounts.

The depositary licence is terminated from 10 July 2015. From 3 July 2015, the Company is not entitled to open depot accounts and hold securities in nominee accounts. By 10 July 2015, the Company is obliged to ensure the possibility for its customers to transfer securities to personal accounts in the register of securities owners or to depot accounts in depositories. From 3 July to 10 July 2015, the depositors are entitled to instruct the Company accordingly to transfer their securities as stipulated in the agreement (terms of the Company’s depositary activities). Upon the expiry of the said period the Company is obliged to transfer customers’ securities to personal accounts opened by the Company in the register of securities owners in compliance with Russian legislation. In case of failure to perform or improper performance of customers’ instructions or the Company’s failure to duly receive instructions to transfer securities, the depositors to the Company may seek judicial protection and/or apply to law enforcement authorities.