Posts

Showing posts from March, 2026

EAHCISS one-pager for St. Petersburg International Economic Forum

Today EAHCISS had a preparatory meeting with an member of the European Parliament (MEP) for the St. Petersburg International Economic Forum (SPIEF) at the European Parliament in Brussels. During the meeting a one-pager was presented and copies were provided to the MEP for meetings with Russian members of the Duma. The one-pager contains challeges identified by EAHCISS and proposed solutions. The one-pager is bilangual with one side in English and the other side in Russian. Our one-pager can be downloaded here: https://drive.google.com/file/d/143UdEwhk9tc84vwg-TcjkFpCVMTWPVHk/view?usp=sharing   There will also be at least one member of EAHCISS attending the Forum. We wish all attendees of the Forum fruitful meetings, conversations and dialogues.
Read more

Payment of Sberbank dividends displayed in Interactive Brokers

Interactive Brokers has today started to display the payment of Sberbank dividends in the accounts of investors that hold ordinary Sberbank shares via Interactive Brokers (not ADRs). We have confirmed that the dividends over 2024 today showed up in these accounts of clients of Interactive Brokers. The process in which Interactive Brokers displays the dividends confirms the procedure following from the Central Bank of Russia decision that mandates that dividends that are not claimed via the Russian custodian (which is Raiffeisenbank Russia for Interactive Brokers) are forcefully credited to the type C account of the Western nominee holder (in this case Interactive Brokers LLC).
Read more

NSD did not extend the period of fee waiving

Shortly after the NSD (the Russian central securities depository) was placed on the sanctions list by the EU, NSD started waiving fees. This was done to allow for certain transactions to continue (such as the conversion of depositary receipts into ordinary shares), without a payment being made to NSD as a sanctioned entity. This fee waiving period lasted until the 31st of December 2025 and has since not (yet?) been extended (see https://www.nsd.ru/en/tariffs/ ). We earlier noted that Russian securities in type C accounts (including the ordinary shares underlying depositary receipts) were transferred back to NSD after NSD had been cut out of the chain of custody for a while after NSD was sanctioned by OFAC (see Decree 840 of the 2nd of October 2024, that wasn't extended).  Unfortunately, this means that the NSD may levy charges again for a transfer of securities out of the account of the depositary banks and foreign nominee holders. Hence one would require an authorisation from comp...
Read more