Attn.: NSD's Clients
On 19 July 2016, the requirements set out in Bank of Russia’s Regulations No. 546-P dated 1 June 2016 “On the List of Information Concerning the Exercise of Rights Attached to Securities and to Be Disclosed by Issuers to the Central Securities Depository, Method and Timing of Disclosure, and Requirements to the Central Securities Depository’s Granting of Access to Such Information” (the “Regulations”), as issued in compliance with paragraphs 1 and 3 of Article 30.3 of Federal Law No. 39-FZ dated 22 April 1996 “On the Securities Market” (the “Securities Market Law”), will take effect.
In accordance with Bank of Russia’s Regulations No. 454-P dated 30 December 2014 “On Information Disclosure by Issuers of Equity or Debt Securities”, an issuer is required to publish information in a data feed updated in real time and made available by a news agency.
At the same time, according to the Regulations, an issuer (or a party liable on securities) is required to disclose information concerning the exercise of rights attached to securities to the central securities depository (CSD) if the CSD holds a CSD nominee account or is a party responsible for mandatory centralized safekeeping of securities.
The status of information NSD receives and provides to depositors and market participants is described in paragraph 4 of Article 30.3 of the Securities Market Law: “In the event of discrepancies between information access to which is provided by the central securities depository in accordance with this Article and information disclosed in accordance with this Federal Law or other federal laws, information access to which is provided by the central securities depository shall have priority”.
To avoid duplication of information (i.e., information published by reference to news agencies’ data feeds and information received directly from issuers in accordance with the Regulations), NSD will, with effect from 19 July 2016, discontinue publishing the following information on NSD’s official web site:
- information generated by reference to issuers’ communications published in news agencies’ data feeds and concerning issuers’ material facts disclosed by issuers in accordance with the Regulations “On Information Disclosure by Issuers of Equity or Debt Securities”; and
- daily information concerning forthcoming corporate actions events, such as coupon income payment (INTR), partial principal prepayment (DRAW), bond redemption (REDM/BN), and mandatory early redemption of bonds (MCAL/BN).
Please note that information concerning receipt and transfer by NSD (as the securities depository responsible for mandatory centralized safekeeping of securities) of distributions on securities, as disclosed in accordance with the Regulations “On the Procedure for, and Timing and Scope of, Disclosure of Information Concerning Receipt and Transfer of Distributions on Securities by a Securities Depository Responsible for Mandatory Centralized Safekeeping of Securities” (approved by the Russian Federal Service for Financial Markets, Order No. 13-29/pz-n dated 16 April 2013), will continue to be disclosed by NSD in the amount and within the timeframe required thereby.
Should you have any question related to this message, please do not hesitate to contact your account manager at (495) 956-27-90 or (495) 956-27-91, or NSD’s regional agents.