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No legislative or other hurdles for Euroclear to start securities operations - FFMS

January 17, 2013
In 2012 the Federal Financial Markets Service prepared the necessary legislative base for opening foreign nominee accounts. In late December 2012 Euroclear opened a nominee account with Russia's Central Depository. However, the FFMS received a request from Euroclear about clarification of some points regarding current laws and regulations. The FFMS is constantly communicating with Euroclear and discussing all current issues. Euroclear has already receiver oral comments on the issues. On 18 January 2012 the FFMS will forward a written reply clarifying the current legislation. The FFMS sees no legislative or other hurdles for Euroclear to start operations with securities.