On cancelling licences of professional securities market participant

The Bank of Russia took the decision to cancel the licences of the professional securities market participant Santel Finans, limited liability company, to carry out broker, dealer and depository activity and securities management.

The licence to carry out depository activity is invalid from 31 May 2015. Santel Finans, limited liability company, is due to cease opening depo accounts and holding securities from 15 May 2015 and ensure its customers to transfer their securities to nominee accounts in the securities holder register or depo accounts with depositories for up to 31 May 2015. Once this period expires, Santel Finans, limited liability company, has to transfer customer securities to nominee accounts opened in the securities holder register under Russian legislation.

The reasons to take these decisions were repeated violations within the year of

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14.05.2015 00.00.00