Calculation is done at a principal level so funds using multiple managers should have informed relevant stakeholders.
Even if a firm is in scope by virtue of their AANA calculation, IM only needs to be posted where it exceeds a value of EUR 8 million, so it may not need to be posted at all. The IA is working with members through a UMR Working Group on good practice and a high-level guide around how members can consider some of these aspects.
Ukraine-Russia – Depositary Receipt Withdrawal
Following suspension of listing of several Russian depositary receipts (DRs) and a drop in their value, the Russian Government drafted and passed a law to prohibit and dissolve Russian DR programmes.
The effective date for this law was on the 27th April and within 5 business days (5th May), Russian issuers should have served notice of cancellation to the DR provider.