FinEx applied to the Belgian Ministry of Finance for permission to operate with NSD

On December 2, the FinEx group of companies applied to the Belgian Ministry of Finance to obtain permission for operations with shares of funds through the National Settlement Depository (NSD), which fell under the sanctions of the European Union (EU). The applicant is FinEx Capital Management LLC, a UK regulated company (FCM). FinEx expects a response no earlier than 60 days, the company said.

FinEx noted that requests from investors and brokers for a license to unlock assets that were registered at the time of blocking operations at NSD were not approved. The company assumes that the regulators of European countries form a unified position on this issue.

“FCM’s application is significantly different from other market participants’ applications and does not apply to securities that the authorized participant owned at the time of blocking operations at NSD and NSD’s inclusion in the EU sanctions list. The purpose of obtaining permission is to provide liquidity to all non-sanctioned investors, regardless of where FinEx ETF shares are held. press releasepublished on the company’s website on December 6.

On the intention to apply to the Belgian Ministry of Finance for operations with frozen FinEx shares informed August 17th. In early June, the European Union imposed sanctions against the NRM. NSD held the majority of FinEx shares, the company said. The securities of Russian investors were blocked in March against the background of the decision of the international depositories Euroclear and Clearstream to suspend operations with NSD. CB warned on the possible risks for Russian investors in the event of a buyout of blocked assets.

Lusine Balasyan