MOSCOW — Russia will gradually limit access for non-qualified retail investors to foreign shares issued by companies from designated “unfriendly” countries, the central bank said on Tuesday, citing the need to minimize investors’ risks.
Brokerages will stop executing orders from non-qualified investors to buy such securities from Oct. 1 if their share in investor’s portfolio exceeds 15%, the central bank said. This ceiling will be lowered to 10% from Nov. 1 and to 5% from Dec. 1.
“From Jan. 1 2023, brokerages will have to suspend the execution of any order from a non-qualified investor to increase a position in securities of foreign issuers from unfriendly countries,” the central bank said. (Reporting by Andrey Ostroukh; Editing by Alex Richardson)