The NSSMC regulated the working conditions of depository institutions during the war

The NSSMC has adopted Resolutions aimed at regulating the work of depository institutions during martial law and promoting the efficient storage and processing of information.

The NSSMC has allowed depositary institutions to which aggregate accounts have been opened by the Central Securities Depository to copy data from the accounting system to the cloud services of EU Member States, the United Kingdom, the United States or Canada. It is important that the ultimate owner of such repositories is one of these countries. Previously, the Central Depository received the right to use cloud technologies to store information.

In addition, the NSSMC found that the period of execution of operations that may be carried out in the depository accounting system during martial law was not more than five working days. Exclusion is possible if the contract with the client has a longer period of execution.

The Resolution shall take effect on the day of its publication on the NSSMC’s official website. Details can be found at the link.