• RUS CB issued letter IN-015-34/42 which addresses investment platforms and carrying out disclose requirements as required by law 259-F3, the Investment Platforms Law.

Clarifications

• When disclosing information required in clauses 1-4, 6, 7, of Article 15, RUS CB recommends that disclosures occur within the first five days after the event.
• If the disclosed information changes after disclosure, must update within two days.
• Investment platform operators are obliged to disclose the relevant rules and changes made to them on the investment platform's website in a way viewable by users.
• Recommends designating a location on the website with the most recent versions of the rules, a brief summary of changes, and a way to identify the changes in the text.
• Also find it appropriate for the platforms to keep record of previous rules for viewing.
• Platforms should notify their customers when updates to rules are posted online.
• Required to disclose to client information about termination of account, if applicable.
• Internal policies and procedures should address timeframe for disclosure information.