“BCS World of Investments” sent an application for unlocking clients’ assets
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BCS World of Investments has sent a collective application to unlock the assets of its clients to the authorized bodies of Belgium and Luxembourg. This will allow investors to manage assets held in the international depositories of Euroclear and Clearstream. The submitted documents include blocked assets for all clients, except for those who refused to participate in the collective order. This is reported in Telegram channel companies.
The BCS explained that, according to the explanations of the European Commission on the mechanism for unlocking the assets of Russian investors, settlements on these transactions should be carried out before January 7, 2023. Accordingly, BCS is waiting for a response from European regulators before this date.
In June, the European Union imposed sanctions against the National Settlement Depository (NSD). Against this backdrop, Euroclear and Clearstream suspended operations with NSD. 6 trillion rubles, according to the Central Bank of the Russian Federation, were blocked. On November 3, the NSD filed an appeal with the EU Council to challenge the sanctions. The Council of the EU sent a corresponding response. NSD is already preparing a response, it must be sent before January 6, 2023. In September, NSD applied to the Belgian and Luxembourg ministries of finance to obtain licenses to unlock the assets of non-sanctioned clients.
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