Central Bank restricts stock trading
The Central Bank (CB) of the Russian Federation has banned trading in foreign shares that are blocked by international settlement and clearing organizations. This was reported in the press service of the Central Bank.
“The Bank of Russia has decided to limit the circulation in organized trading of foreign securities blocked by international settlement and clearing organizations from May 30, 2022. This decision is aimed at protecting the rights and interests of investors and minimizing their risks. The exception will be foreign companies that mainly operate in the Russian Federation.
As long as a small number of blocked foreign shares are traded on the SPB exchange, the assets will be distributed among bidders and their clients on equal terms. At the same time, the owners’ right of ownership to foreign securities will be preserved. Trading on them will resume following the restrictions are lifted, the Central Bank noted.
Earlier, Russian President Vladimir Putin signed law on the delisting of Russian securities from foreign exchanges. Domestic companies and banks that are traded abroad are required to convert receipts into shares, reports RT.
The Central Bank (CB) of the Russian Federation has banned trading in foreign shares that are blocked by international settlement and clearing organizations. This was reported in the press service of the Central Bank. “The Bank of Russia has decided to limit the circulation in organized trading of foreign securities blocked by international settlement and clearing organizations from May 30, 2022. This decision is aimed at protecting the rights and interests of investors and minimizing their risks. The exception will be foreign companies that mainly operate in the Russian Federation. As long as a small number of blocked foreign shares are traded on the SPB exchange, the assets will be distributed among bidders and their clients on equal terms. At the same time, the owners’ right of ownership to foreign securities will be preserved. Trading on them will resume following the restrictions are lifted, the Central Bank noted. Earlier, Russian President Vladimir Putin signed a law on the delisting of Russian securities from foreign exchanges. Domestic companies and banks that are traded abroad are required to convert receipts into shares, RT reports.
