The NSSMC clarified the conditions for the temporary suspension of the license during the war

The NSSMC (National Securities and the Stock Market Commission) has supplemented the list of grounds for suspending the license to operate capital markets and organized commodity markets during martial law.

It is clarified that holding a number of positions by citizens of the Russian Federation (RF) or the Republic of Belarus (RB) will serve as a basis for the temporary suspension of the license. The list includes the following positions:

⁃ shareholder or ultimate beneficiary;

⁃ a person exercising the powers of an executive body, chairman or member of the supervisory board;

⁃ an employee of the internal control system or an employee responsible for financial monitoring of the company;

⁃ the chief accountant or the person exercising the company’s accounting;

⁃ an employee who carries out operations related to the implementation of activities on the capital markets and organized commodity markets, and is also the head or deputy head of the relevant structural unit.

Exceptions are persons who have the citizenship of the Russian Federation or the Republic of Belarus and live on the territory of Ukraine on legal grounds.

The Resolution enters into force from the moment of its publication on the official website of the NSSMC. You can read the document by following the link.