The NSSMC: simplified identification and verification procedure for investors in government securities during the war

The NSSMC (National Securities and the Stock Market Commission) adopted a Resolution that defines the peculiarities of the implementation of certain requirements of the legislation in the field of financial monitoring during martial law.

Therefore, taking into account the effect of martial law and the need to attract the resources of individuals to finance military needs through the mechanism of using of domestic government bonds, the NSSMC proposes a simplified procedure for remote verification of clients, which applies exclusively to low-risk clients and exclusively for the purchase of such domestic government bonds with for the purpose of receiving reimbursement. For this purpose, it is allowed to verify customers by obtaining an electronic copy of an e-passport or an e-passport for traveling abroad, created by means of the Unified state web portal of electronic services (Portal Diya) with the imposition of a remote qualified electronic signature “Diya.Signature” (“Diya ID”) of the person and the qualified electronic seal of the technical administrator of the Portal Diya with the corresponding qualified electronic time stamp.

Investing in government securities allows you to receive from the state a guarantee of the return of the entire amount of investment and the payment of interest, and also fixes the yield for the entire period of the issuance of securities.

In addition, the Resolution adopted by the NSSMC clarifies other procedures for due diligence of clients and features of supervision in the field of financial monitoring of compliance with legislation during martial law.

You can read the text of the document by following the link.

In addition, we pay attention to the fact that clients who have undergone due diligence procedures in accordance with the Resolution №144 On Streamlining Operations on Capital Markets for the Period of Martial Law dated March 8, 2022, do not need to undergo additional due diligence measures in connection with the acquisition of the validity of the NSSMC’s Resolution №1067 of August 5, 2022 On the Peculiarities of the Implementation of Certain Requirements of the Legislation in the Field of Financial Monitoring During Martial Law.