On 15 June 2016, National Settlement Depository (NSD), Russia’s central securities depository, carried out a seminar “General Procedure for Interactions Related to Corporate Actions Starting 1 July 2016.” The event was organized for registrars and covered a wide variety of topics associated with the corporate actions reform held in Russia.
NSD’s experts outlined the reform’s specifics, presented its key interaction channels, and a procedure of processing voluntary corporate actions related to share repurchase. The depository’s specialists also demonstrated how NSDirect, the depository’s Web Office, functioned; they also explained the process of participation in a general meeting of security holders, and discussed the document interchange between NSD and registrars when drawing up of lists of security holders since 1 July 2016.
On 1 July 2016, new provisions of Federal Laws “On Joint-Stock Companies,” “On the Securities Market,” and “On the Central Securities Depository” will come into effect. These provisions will lay down the reform’s key principles. To prepare securities market participants for the upcoming changes, NSD conducts seminars and webinars for clients and registrars on a regular basis and presents all innovations brought by the reform. In addition to this, the depository places detailed information about the reform on www.corpactions.ru/en/.