On 9 June 2016, National Settlement Depository, Russia’s central securities depository, held a seminar “Corporate Actions Reform’s Specifics”. The event took place in the St. Petersburg office of the Moscow Exchange. Sergey Bernevega, Managing Director for Corporate Information, NSD, and Andrey Denisov, Head of Corporate Actions Development, NSD, presented their reports to the participants of the seminar.
Mr. Bernevega outlined the progress of the corporate actions reform, its tasks, key elements and legislative changes that are about to come into force on 1 July, and put emphasis on interaction channels used for corporate action processing.
Mr. Denisov’s report was focused on the transition to the new corporate action technologies. Together with the seminar attendees, he reviewed the specifics of participation in a general meeting of securities holders.
In 2013, the corporate actions reform was initiated in Russia. It includes a number of measures aimed at improving regulations and technologies for the collection and distribution of corporate information as well as corporate actions processing. In the summer 2015, the federal law that established the reform’s key parameters was adopted. Its key provisions will come into effect on 1 July 2016. More information about the reform is available at www.corpactions.ru/en/.