Bank of Russia to allow online registration of trust management rules of UIFs for non-qualified investors
The Bank of Russia has published an instruction establishing a new procedure for registration of trust management rules of unit investment funds (UIFs) whose units are not limited in circulation, and amendments to them.
The key feature of the instruction is the possibility to submit a set of documents to the Bank of Russia for registration of trust management rules of a UIF whose units are not limited in circulation and to record amendments to these rules online using a form specially developed by the Bank of Russia.
As a result of the registration, a relevant electronic document will be created.
Adopting this instruction is another step towards automation of the Bank of Russia's interaction with financial market participants in the course of admission of financial instruments to trading.
The instruction was registered with the Russian Ministry of Justice under No. 69735 on 22 August 2022, and will take effect from 1 April 2023.
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