On cancellation of licence of professional participant of securities market
The Bank of Russia took a decision to cancel licence to carry out broker and dealer activities and operations to manage securities of Finance and Investment Company GlobalFinGroup, limited liability company (hereinafter, the Company), professional participant of the securities market.
The reason to take this decision was repeated violations within a year of requirements of the Russian securities law and the requirements stipulated by Article 7 of Federal Law No.
The Company failed to enable the Bank of Russia to execute supervision and to provide complete and reliable data during the inspection of the Company’s activity;
The Company failed to provide the Bank of Russia with information on calculation of equity as of 30 June 2014, the Company provided information on calculation of its equity as of 31 March 2014 with infringement of terms;
The Company’s activity contradicted the conditions and requirements envisaged by the licence in terms of lacking of employees meeting the requirements stipulated by the Russian legislation;
When developing versions of the Company’s Rules of internal controls aimed at countering legalisation (laundering) of criminally obtained incomes and financing of terrorism (hereinafter, the Rules of internal controls), the Company failed to observe the requirements to the rules of internal controls developed by organisations performing cash transactions or operations with other property (except for credit institutions), approved by Resolution of the Government of the Russian Federation No. 667, dated 30 June 2012;
The Company’s Rules of internal controls lacked the obligation to update information on customers and their representatives at least once a year or within seven working days after the emergence of doubts in reliability and accuracy of previously obtained data.
22 August 2014
The reference to the Press Service is mandatory if you intend to use this material.
22.08.2014 00.00.00