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

The NSSMC (National Securities and Stock Market Commission) has approved a Resolution that during martial law, the regulator may suspend the license for violations that pose significant risks to the operation of capital markets and organized commodity markets.

The NSSMC identified the following grounds for suspending the license during the war:

• violation of licensing requirements for conducting professional activities in the capital market and organized commodity markets;
• providing inaccurate, untimely or missing information at the request of the NSSMC;
• non-compliance with NSSMC Resolutions;
• business relations with individuals or legal entities from the Russian Federation or the Republic of Belarus;
• the presence in the ultimate beneficial owners of citizens of Russia or Belarus;
• Improper business reputation of the company’s management.

The license is suspended the next day after the publication of the relevant Resolution of the regulator on the official website of the NSSMC.

The Resolution on the procedure for suspension of licenses comes into force from the moment of its publication on the official website of the NSSMC. Full text at the link.