OREANDA-NEWS. January 26, 2016. Bank of Russia took a decision to cancel series AI-002 qualification certificate No. 003194 of qualification corresponding to the position of a financial market specialist to carry out broker, dealer activities and securities management, series AV-003 qualification certificate No. 010952 corresponding to the position of a financial market specialist to manage investment funds, unit investment funds and non-governmental pension funds, and series AVII-002 qualification certificate No. 002892 corresponding to the position of a financial market specialist to carry out non-governmental pension funds activities on non-governmental pension provision, compulsory pension insurance and professional pension insurance issued to Sergey V. Brovchak.

The reason to cancel the certificates was the repeated violations of Russian pension legislation by Sergey V. Brovchak, who acted as the sole executive body of Industrial non-governmental pension fund (hereinafter, the Fund), when the Fund repeatedly violated Russian pension legislation which resulted in the cancellation by the Bank of Russia Order No. OD-2012, dated 6 August 2014, of Fund’s licence to carry out pension provision and pension insurance No. 418, dated 26 April 2004.