NSD Reports Results of Its Supervisory Board Meeting

09 February 2015
Print version

On 6 February 2015, a meeting of the Supervisory Board of National Settlement Depository (NSD), Russia’s central securities depository, was held.

Amended fees and rules

According to the resolution of the Supervisory Board, the following amended fees have been approved:

  • The fees for cash transfers and associated services have been amended to bring the fees into compliance with the Federal Law #161-FZ “On national payment system” dated 27 June 2011;
  • The fee for pre-LEIs/LEIs assignment/verification/certification services has been amended due to the clarified composition of the services.

A new version of the NSD Internal Control Rules aimed at combating money laundering and the financing of terrorism was approved. The members of the Supervisory Board also approved the new version of the EDI Rules. The new versions of these documents will be put into effect once they are approved by the Bank of Russia.

Furthermore, the Supervisory Board approved a new version of the NSD Clearing Rules which will be brought into force once the Bank of Russia registers them. The amendments were required due to a development of NSD settlement services integrated with the Bank of Russia’s RTGS.

Reports considered and approved

The members of the Supervisory Board took into consideration the CSD risk assessment report for 2014 and the CSD risk management efficiency assessment report as of 31 December 2014. In 2014, the level of the CSD risks was acceptable. The Supervisory Board approved the maximum allowable total risk level of NSD for 2015.

The report on the NSD client satisfaction level was taken into consideration. In 2014, the index reached 87.9%; it demonstrated a positive dynamics as compared with the 2013 index (80.9%).

Traditionally, the members of the Supervisory Board pay special attention to the corporate governance quality. The participants of the meeting approved the NSD corporate governance report for 2014.

The members of the Supervisory Board also took into consideration the report by the NSD Controller of Professional Securities Market Participant for Q4 2014.

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