Hail to the Russian CIC

TheBank of Russia’s Regulation No. 546-P came into force today, establishing a list of corporate information to be submitted by issuers to National Settlement Depository (NSD), Russia’s central securities depository, and regulating the procedure and deadlines for submitting the information.

This Regulation introduces a new implementation phase for corporate actions reform by assigning the functions of the corporate information centre (CIC) to the NSD.

In accordance with the document, data on shares and registered bonds can be sent by issuers to the CSD via their registrars. However, information on documentary bearer bonds with centralised mandatory safekeeping shall be submitted by issuers directly to the NSD. The information interchange should be held electronically.