OREANDA-NEWS. January 26, 2016. Bank of Russia decided to cancel licences of a professional securities market participant to carry out broker, dealer, and depository activities, and securities management of the open joint-stock company Rye, Man & Gor Securities (TIN: 7710008600, PRSN: 1037739424250).

The grounds for such a decision were repeated violations over the past year of the requirements of the Russian Federation securities legislation, requirements stipulated by Article 7 of Federal Law No. 115-FZ, dated 7 August 2001, ‘On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism’, as well as the company’s involvement in suspicious operations.

The licences to carry out broker and depository activities cease to be effective from 22 April 2016. The company is to terminate concluding agreements to provide broker services, opening depo accounts, and accepting securities at face value from 22 January 2016, and to provide customers with the opportunity of transferring securities to personal accounts in the register of securities holders or to depo accounts with depositories, and also withdrawing funds before 22 April 2016. From 22 January 2016 to 22 April 2016, the company’s customers are entitled to give the respective orders of securities transfer in accordance with the procedure established by the agreement (terms and conditions of conducting depository activity) and of money return. After the indicated period the company is to return customers’ funds and transfer customers’ securities to their personal accounts in the register of securities holders in compliance with Russian Federation legislation. Should the company fail to execute or execute improperly the customers’ orders or fail to receive orders, the customers are entitled to go to court and/or file an application to law enforcement agencies.