ITI Capital will ban unqualified investors from buying foreign securities from August 30
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From August 30, the investment company ITI Capital will close access to the purchase of foreign securities for unqualified investors. This was said in a statement. The decision was made in connection with the recommendations of the Central Bank.
“From August 30, 2022, ITI Capital closes the ability for unqualified investors to buy foreign securities,” the company said. The restriction was introduced only for the purchase of securities on the Moscow Exchange and the St. Petersburg Exchange. There is no prohibition on the sale or possession of papers.
20 July Bank of Russia recommended brokers to refrain from offering foreign securities to unqualified investors. The Central Bank explained this by risks against the backdrop of sanctions. Shortly thereafter, the head of the Central Bank Elvira Nabiullina suggested to protect unqualified investors, limit the sale of foreign shares to them.
Against a complete ban on the purchase of foreign securities by unqualified investors spoke Ministry of Finance. According to the department, access to foreign securities will help the integration of friendly financial markets.
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