Mandatory corporate action FAQ added

Office of Financial Sanctions Implementation HM Treasury

Mandatory corporate action FAQ added

Today, OFSI has published FAQ 187 on how mandatory corporate actions (MCAs) engage the Russia and Belarus Regulations, providing clarity for those trading transferable securities and money market instruments.

The FAQ explains that new instruments, created through an MCA will not automatically engage Regulation 16 of the Russia Regulations or Regulation 15A of the Belarus Regulations. Whether these provisions apply will depend on the specific facts, and the FAQ includes a worked example illustrating how this assessment may be made.

This guidance supports firms to continue trading whilst remaining compliant with UK sanctions.

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