The Bank of Russia simplifies the accounting procedure for separate securities. This is reported on the regulator's website.
Depositories will withdraw separate securities to non-trading accounts by December 18, 2025: Russian shares, if they or depositary receipts for them were purchased after March 1, 2022, as well as Eurobonds and replacement bonds that were purchased after March 3, 2023.
The requirement for separate accounting of such securities is established in accordance with Presidential Decree No. 138. It can be lifted only after checking documents and information confirming that there were no unfriendly investors in the chain of ownership.
Now, only blank securities can be stored on depo trading accounts and freely traded on the stock exchange, including in the mode of negotiated transactions.
The Central Bank has outlined the minimum set of documents that the depository (registrar) must receive from the client in order to stop keeping separate records. When transferring securities to another depository (registrar), he is obliged, upon request, to share all the information available to him.
Each participant in the accounting infrastructure now does not have to collect the entire package of documents on the history of security ownership. It is enough for one participant to do this once and then transmit the received information along the chain. This will reduce the burden on market participants and simplify the customer journey, the Central Bank emphasizes.
The regulator sets a cooling-off period: it will be possible to terminate the separate accounting of securities or execute an order to transfer them to another depository (registrar) 6 working days after sending a notification to the Bank of Russia.
The new requirements for separate accounting will take effect on January 12, 2026. From this date, securities purchased on the stock exchange will not need to be isolated and checked by all owners.
In relation to over-the-counter transactions, the obligation to separate securities has been retained. At the same time, depositories and registrars must submit daily reports on transactions with separate securities to the Central Bank.
