NSD Announces Resolutions Adopted by the Supervisory Board

14 February 2014
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On 13 February 2014, the Supervisory Board of National Settlement Depository (NSD), Russia’s central securities depository, approved changes to its Fees for Depository Services and Fees for Central Securities Depository (CSD) services. The new versions include the following:

  • the reduced fee for the safekeeping of Gazprom shares to that applicable to other Russian issuers’ shares
  • the formerly separate fee for long-term safekeeping sub-accounts for Gazprom shares will now be incorporated into the minimal monthly fee for depository services.

The amended Fees for CSD services will be sent to the Bank of Russia’s Financial Markets Service and put into effect as soon as NSD receives the Service’s notification of approval.

The Supervisory Board approved the company’s IT Strategy for 2014-2016. The strategy is focused on the support and implementation of NSD’s mid-term business plans and includes the provisions related to organization of IT management in the company’s structure, to the target IT architecture and the operating costs and investment budgets scenarios connected to implementation of the IT strategy. The members of the Board also approved the investment budget of the Corporate Actions Automated System project for 2014-2015.

The participants of the Supervisory Board considered and approved the company’s Corporate Governance Report for 2013, and authorized the members of the Executive Board to control the execution of actions included in the report. The Supervisory Board took into consideration data from the company’s Customer Satisfaction Index.

In addition to these decisions, the Supervisory Board approved the following corporate documents: the Regulations on placement of temporarily surplus funds, the Procedure of development, approval and assessment of implementation of the company’s development strategy, and the new version of the Business Continuity Policy. The members of the Supervisory Board also decided to increase the company’s Investment budget for 2014 adopted by the Supervisory Board in late 2013.

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