As of October 1, the BCS broker introduces a restriction on the purchase of securities from “enemy” countries. Despite the recommendations of the Bank of Russia, the company decided to introduce a complete ban in one step.
According to RBC, the corresponding mailing was sent to the broker’s clients on the night of September 18.
The letter states that the decision was made to “protect customers from potential risks.” It is noted that unqualified investors who bought securities of “enemy” countries earlier will be able to keep them further away or close their positions.
The restrictions as of October 1 were previously reported on the BCS website, but there was no indication that they would be completed immediately.
In early September, the Central Bank sent brokers an order to limit purchases of securities from “unfriendly” countries from October 1, 2022, if the share of such assets in the portfolio of an unqualified investor is of 15%.
According to the regulator’s instructions, from November 1, the share of such transactions will be 10%, from December 1 to 5%. As of January 1, 2023, brokers will be required to suspend the execution of any “unequal” order to increase the position in securities of issuers of “enemy” countries.
The BCS emphasized that the total ban, which is introduced as of October 1, does not contradict the regulator’s prescription, since the decision on phasing remains with the brokers.
Author:
Ahmed Sadulayev
Source: RB
I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.
