03.14.2022

FCA: Chancellor’s Call to Stop Investing in Russia

03.14.2022

Regulated firms have already taken steps to avoid new investment in the Russian economy.

Many asset managers and pension providers have written down any Russian assets already held by the fund or scheme to zero, and some have announced that they are intending to divest themselves of such assets when it is practical to do so. Major index providers have taken steps to remove Russian securities from their equity and bond indices.

There are currently significant practical challenges in terms of disposing of Russian assets. When it is possible to sell such investments, firms should ensure that they meet requirements on entities that are subject to sanctions or connected to sanctioned entities. We have set out our guidance on this issue.

Source: FCA

Related articles

  1. State Street, Paxos and Credit Suisse completed a pilot of same day settlement.

  2. Symphony CEO Brad Levy spoke about navigating a 'supercycle' of changes.

  3. SEC has charged AGI US and three former senior portfolio managers with fraud.

  4. AGI US and its parent, Allianz SE, has agreed to pay over $5bn in restitution to victims.

  5. A public quotation is one step towards converting digital asset products into ETFs.