Report on the Description of the National Settlement Depository Controls, Suitability of Controls Design and Operating Effectiveness,
12 October, 2015
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a Certificate of State Registration of Credit Organisation issued by the Central Bank of the
Russian Federation (the Bank of Russia), a licence to conduct banking transactions, a
Professional Securities Market Participant Licence to conduct depository activities, a licence to
conduct clearing activities, and a licence to provide data encryption services.
Organisational structure
Under the Articles of Association, NSD's management bodies are as follows:
The General Meeting of Shareholders is the supreme management body. It is convened at
least once a year;
The Supervisory Board is the supreme management body during the periods between
General Meetings of Shareholders. Supervisory Board members are elected by the General
Meeting of Shareholders for the period of one year;
The Chairman of the Executive Board (sole executive body). The Chairman of the
Executive Board is appointed by the General Meeting of Shareholders; and
The Executive Board (collegial executive body). Executive Board members are appointed
by the Supervisory Board.
The Company's up-to-date (as of the date of this report) organisational structure is presented
below (Fig. 1):
