On cancelling licences of professional securities market participant

The Bank of Russia took a decision to cancel licences of professional securities market participant to carry out broker and dealer activity and securities management of the closed joint-stock company West-Capital (hereinafter, the Company).

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

— the Company failed to meet Bank of Russia instructions on presenting documents;

— the Company repeatedly failed to receive postings at the address of the Company’s location;

— the Company submitted the calculation of its equity capital to the FFMS of Russia for the reporting periods of 2013 with deadline violation;

— the Company submitted the quarterly report of the professional securities market participant under reporting form 1100 to the FFMS of Russia for the reporting periods of 2013 with deadline violation;

— the Company failed to submit calculations of its equity to the Bank of Russia for the reporting periods of 2013 and 2014;

— the Company failed to submit quarterly reports of the professional securities market participant to the Bank of Russia for the reporting periods of 2013 and 2014;

— the Company failed to submit information on its ownership structure to the Bank of Russia for the reporting periods of 2013 and 2014;

— the Company did not disclose information on the calculation of its equity capital in the Internet for the reporting periods of 2013 and 2014.

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12.11.2014 00.00.00