Deutsche Bank’s License Annulled

Russia’s Federal Financial Markets Service decided to annul BNP Paribas Vostok’s license of a professional participant of the securities market for carrying out depositary activity. The decision was taken after the bank had placed an application to this extent and provided documentary proofs of having no unmet professional liabilities.

Russia’s Federal Financial Markets Service annulled Zapsibcombank’s license allowing the company to handle stock exchange orders. The decision was taken after the bank had submitted its application to this extent and provided proof of having no unmet professional obligations.

UrBC, Yekaterinburg, August 25, 2010. Russia’s Federal Financial Market Service annulled the license allowing Chelyabinsk-based OOO Magister Management Company to deal in investment fund management, unit trust management, or private retirement funds. The Service reports the decision was taken after the company had submitted a corresponding application and the official proof of having no unfulfilled business liabilities.

Russia’s Federal Financial Markets Service decided to nullify the license of Moscow’s OOO Home Credit & Finance Bank which allowed the bank to act as an intermediary in stock trading of exchange commodities-based derivative contracts. The decision to nullify the license was taken on the basis of the company’s application and the papers that proved the bank had no unfulfilled professional obligations.

The Russian Federation Federal Financial Market Service decided to annul the licenses of some professional securities market players, including that of Ufa-based Center-Invest Investment Company (the license allowed the company to perform brokerage and dealing operations and handle securities management) and that of Yekaterinburg-based Bank24.ru (the license allowed the bank to perform depositary transactions).