On cancelling qualification certificate

On 12 March 2015, due to the repeated violation of the requirements of the Russian legislation on investment funds, the Bank of Russia took a decision to cancel series AV-004 qualification certificate No. 001819, dated 18 December 2007, of financial market specialist in investment fund, unit investment fund and non-governmental pension fund management, issued to Vadim Skutin.

Vadim Skutin implemented functions of the sole executive body of the closed joint-stock company RUSREIT Management Company (hereinafter, the Company) during the period when the Company repeatedly violated the requirements of the Russian legislation on investment funds due to which by its order No. OD-145, dated 26 January 2015, the Bank of Russia cancelled the Company’s licence to manage investment funds, unit investment funds and non-governmental pension funds.

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12.03.2015 00.00.00