Federal Financial Market Service annuls license of Ural Transport Bank

Russia’s Federal Financial Markets Service decided to annul the licenses allowing OOO Eurogreen Investment & Finance Company to deal in brokerage and dealership operations, management of securities, and depositary operations in the capacity of a professional stock market player. The licenses, registered as No. 166-10513-100000 (brokerage),166-10514-010000 (dealership), 166-10515-001000 (securities), and 166-10518-000100 (depositary transactions), were all issued on September 6, 2007. The Service reports the decision was taken after the company had violated the Russian securities

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).

On July 12, 2007 Federal Financial Market Service provided Ural Treasures Bank with non-expiry type licenses entitling it to dealership, security trust management, brokerage operations, and depository operations; these licenses are to replace the earlier ones that were only valid for three years, the bank’s press officer reports.

The Federal Financial Market Service decided to annul the licenses allowing Pervouralsk-based Universal Commercial Bank to perform brokerage and dealing operations on the securities market. This decision was made after the bank’s banking operation license had been declared invalid by the Central Bank of the Russian Federation’s order OD-684 as of October 28, 2009.

UralTransBank is not permitted to act as a depository after the Federal Financial Market Service annulled its license on January 10, 2007 at the request of the bank. Depositary operations include keeping track of the ownership of securities, safekeeping of securities themselves or servicing shares placed in a depositary.