The Central Bank of Russia has simplified supervisory interaction with specialised depositories by narrowing the situations in which they must notify the regulator about breaches identified in the activities of management companies and joint-stock investment funds. Under the change, reporting is limited to serious violations. The Bank has also set out a list of cases that do not require any supervisory response, aiming to reduce the operational and administrative burden on collective investment market participants. Depositories should not report violations that are temporary or technical in nature, or that pose no substantial risks to trust management of investment funds’ assets. The new rules enter into force on 8 May 2025.
Central Bank of Russia 2025-04-30
Central Bank of Russia limits specialised depository notifications to serious violations in the collective investment market
The Central Bank of Russia has streamlined supervisory interactions with specialised depositories by limiting mandatory reporting to serious violations by management companies and joint-stock investment funds. A list of non-reportable cases has been established to reduce the operational burden on collective investment market participants, excluding temporary or technical breaches that pose no substantial risks.