On withdrawal of licences issued to LLC Starfin, professional participant of the securities market, to carry out broker, dealer activities and operations to manage securities

The Bank of Russia took a decision to withdraw the licences to carry out broker, dealer activities and operations to manage securities from the limited liability company Starfin (hereinafter referred to as ‘company’).

The reason to take this decision was multiple violations within a year of the requirements securities market of legislation of the Russian Federation including regulations of the federal executive body namely:

— the company repeatedly failed to receive mail to the address (location) of the company;

— the website of the company had no information about the dates of disclosure of information about calculation of amount of its own funds;

— the company failed to comply with the procedure and meet the deadlines for presentation of the reports of the professional member of the securities market;

— the company appointed a person to act as a sole executive body of the company with no prior consent from the authorized body.

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08.05.2014 00.00.00