On cancelling licences of professional securities market participant

The Bank of Russia took a decision to cancellicences of professional securities market participant to carry out broker, dealer and depositary activity and securities management issued to Investment Company Vertical, limited liability company.

The reason to take this decision was repeated violations over the past year of the requirements of Russian securities legislation, as well as licence requirements and professional standards of securities market, including the provision of unreliable information by the Company.

The licence to carry out depositary activity is terminated from 30 March 2015. Starting 6 March 2015, the Company is not eligible for opening depositary accounts and nominal share holding. The Company must enable its customers to transfer securities to current accounts in the register of securities holders or to depositary accounts with depositaries until 30 March 2015.

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05.03.2015 00.00.00