Russian NSD approves cash transfer fee changes 09 February 2015Moscow Reporter: Stephanie Palmer
Image: Shutterstock
Russia’s central securities despository, the National Settlement Depository (NSD), has announced the amendments that came out of its supervisory board meeting, as well as an increase in client satisfaction.
The board approved a move to amend fees on cash transfers and associated services, bringing them in to line with the 2011 federal law number 161-FZ, ‘on national payment system’.
Fees around pre-LEI, LEIs assignment, verification and certification services have also been amended because of a clarified composition of the services.
A new version of the NSD internal control rules was approved, aimed at combatting money laundering and the financing of terrorism.
In addition, a new version of the electric data interchange rules was approved, subject to approval from the Bank of Russia, and a new version of the NSD clearing rules was introduced, to come in to effect once registered by the Bank of Russia.
These amendments were required because of development of NSD settlement services integrated with the Bank of Russia’s real-time gross settlement systems.
The board also considered the central securities depository (CSD) risk assessment report from 2014, as well as the CSD risk management efficiency assessment report from 31 December 2014.
The maximum allowable total risk level of the NSD was approved, and the board looked in to the client satisfaction level report. In 2014, the index reached 87.9 percent, an improvement on 80.9 percent in 2013.
On top of this, the board also approved the NSD corporate governance report for the year of 2014.
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 