Blow on an offshore
can be bought foreign papers in RussiaFederal Agency of the financial markets (FSFR) has confirmed new rules of investment of means of the clients who are in trust management, having allowed to get the Russian companies foreign securities. The document allows operating to get all kinds of foreign papers, including actions of the companies, the state bonds and derivativy, but with the big reservations.
new position “ About the statement of the Procedure of activity on management of securities “ will give to the managing director the right to get in trust management foreign securities, including papers of emitters and the states. Thus it is possible to buy only foreign actions, bonds or other tools which are admitted to the reference in Russia or have listing on one of stock exchanges in the states, the agreement on information interchange or which account is conducted in Russian spetsdepozitarijah is entered into with regulating which bodies. Managing directors should observe one of these three conditions.
to the first condition with managing director will satisfy difficult. At the Russian stock exchange does not address yet any foreign security. Only two days ago the Belarus trading house “ Polesye “ has declared intention to take place in Russia. To the second - too. FSFR has the agreement on information interchange only with Brazil. Now the service carries on negotiations for the conclusion of similar agreements with Cyprus, India and Luxembourg. However, the third condition does possible purchase of any actions having listing if only they were considered on the nominal account derzhanija in Russia. “ Now there is no interdiction for the account of foreign securities in Russian depozitarijah, thus, if corresponding papers have undergone listing procedure at a foreign stock exchange and are considered in Russian depozitarijah, they can be got within the limits of trust management “ - deputy head FSFR Vladislav Streltsov has told daily.
this position does not extend on investment funds, and also portfolios of pension reserves being in management and means of pension accumulation. In the end of February FSFR has presented to Ministry of Justice on change registration in position about structure and structure of actives of the PIFS, the right which has given to share funds to get foreign papers. Participants of the market have concerned this initiative FSFR cool enough, having declared that while in the Russian market such growth of quotations is observed, shareholders of PIFS hardly will use new possibility.
As to acquisition of foreign securities in trust management, how managing directors believe, it will be more claimed. “ the Russian campaigns at last will be laid down in equal conditions with offshore structures through which the basic part of transactions with foreign actives " is now carried out; - vice-president IK " speaks; Brokerkreditservis “ Yury Mintsev. General director UK “ Alliance ROSNO Management of actives “ Oleg Mazurov notices that the clients who have addressed in the Russian company, instead of in an offshore, will receive weight of advantages: “ now remittance procedure into accounts of the western banks and investment companies is difficult and expensive “.
According to the head of department actives UK “ the Pension savings company “ Alexey Agafonova if clients can buy directly foreign papers in the western markets, it will allow to solve a problem of legalisation of profit.