AS Aurora Access Securities permitted to provide investment services
At the Management Board meeting on April 20, the EFSA issued AS Aurora Access Securities an activity license to provide investment services.
The activities AS Aurora Access Securities is planning are mostly related to the activities of its parent undertaking Web-invest.ru and indirectly Web-invest Bank. Both companies are subject to financial supervision in the Russian Federation.
"We have somewhat a precedent here where an activity license is issued to a company with the parent undertaking in Russia. Certainly, it doesn?t mean that the Russian financial institution could obtain the license easier in the future than before," the Chairman of the EFSA Management Board Andres Trink commented on the given licensing.
"The interest toward entering the market of Estonia as a member of the European Union is discernible. We watch very closely the developments in the Russian financial sector and legal environment, especially in regards to transparency in financial accounting and reliability. If necessary, we are ready to implement fast needed measures should the interests of our financial services consumers be threatened," Trink added.
Based on the activity license AS Aurora Access Securities is authorized to offer the following investment services:
- acquisition or transfer of securities in the name of the firm and account of the customer;
- acquisition or transfer of securities in the name and account of the customer;
- receiving orders for securities transaction orders from the customers and forwarding or executing them on the account of the customers;
- trading with securities on the firm?s account;
- management of individual securities portfolios according to the instructions from the customers;
- securing issues of securities;
- organizing the issue of securities, public offers or the acceptance of securities for trading on a regulated market; except organizing regulated market regular activity.
The supervised entities list is available on the EFSA webpage www.fi.ee > Supervised entities.
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livia dot kulm at fi dot ee