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THE US SECURITIES COMMISSION'S DECISION.
A&G Information Services, May, 1996
A&G Information Services 05-28-1996 THE US SECURITIES COMMISSION'S DECISION. - FINANCIAL NEWS - May 28, 1996. St.Petersburg, Russia. The US Securities and Stock Exchange Commission permitted US investors to operate with Russian state short-term bonds . At the same time SEC issued a so-called letter of non-intervention, according to which Russian ONEXIM bank received a status of a "reliable foreign deposit bank". However, the existing mechanism of non-residents' operation with the SSTB allows foreigners to buy the bonds only through Russian banks, that have their representative offices abroad.
ONEXIM bank is not a kind of a bank and it is not quite clear how this bank intends to use the SEC decision. SEC announcement is quite formal, as on the one...
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