On 12 February 2020, a meeting of the Supervisory Board of National Settlement Depository, Russia’s central securities depository, was carried out.
The Supervisory Board made the following decision:
- Elect Olga Petrova, Head of the Product Development Unit of the Depository Division of the Securities Department, JSC CB Citibank, as member of the National Settlement Depository Customer Committee (Central Securities Depository Customer Committee).
- Relieve Larisa Gorbacheva, member of the National Settlement Depository Customer Committee (Central Securities Depository Customer Committee), from her duty.
The Supervisory Board took into account:
- Q4 2019 Report on the NSD Internal Control Department’s Activities Focused on Internal Control over the Professional Securities Market Participant’s Operations;
- NSD’s Report on the Assessment of Risks for 2019 and on the Assessment of Risk Management Activities as of 31 December 2019;
- Q4 2019 Report on NSD’s Internal Capital Adequacy Assessment Process (ICAAP)
- NSD’s Report on Results of the Implementation of the Internal Capital Adequacy Assessment Process (ICAAP) and on Stress Test Results for 2019
- The report on the implementation of the Internal Audit Department’s activity plan for H2 2019 and information about the measures taken to follow recommendations and address shortcomings identified by the Internal Audit Department as of 31 December 2019.
The Supervisory Board recognized NSD’s internal control system as satisfactory and as compliant with the scale, nature and terms of NSD’s activities.