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On cancelling licence of management company

18 June 2015
Press release

On 18 June 2015, the Bank of Russia took a decision to cancel licence No. 21-000-1-00078, dated 20 September 2002, to manage investment funds, unit investment funds and non-governmental pension funds issued by the Federal Securities Market Commission to MCKM Management Company (hereinafter, the Company) due to the repeated violation of the requirements of Russian investment funds legislation.

The Company repeatedly failed within a year to comply with Bank of Russia instructions, repeatedly violated within a year for more than 15 working days the terms for submitting reports stipulated by the federal laws and regulations of the Russian Federation, including the regulations of the Bank of Russia, when conducting activity envisaged by the licence.


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18.06.2015 00.00.00