Encyclopedia

Conflict of Interest of a Specialized Depository


Conflict of interest of a specialized custodian - the presence in a specialized custodian, and (or) other persons, if they act on behalf of the specialized custodian or on their own behalf but at its expense, and (or) its employees, of an interest different from the interests of the party to the agreement for the provision of services by the specialized custodian (the client of the specialized custodian) and (or) from the interests of a person who is a party to an agreement with the client of the specialized custodian within the scope of activities in relation to which the specialized custodian provides services, when performing or not performing legal and (or) factual actions affecting the interests of the party to the agreement for the provision of services by the specialized custodian (the client of the specialized custodian) and (or) a person who is a party to an agreement with the client of the specialized custodian within the scope of activities in relation to which the specialized custodian provides services1.

  1. Federal Law No. 156-FZ of November 29, 2001 "On Investment Funds", as amended on May 1, 2019, Article 44, paragraph 10.1 // Official Gazette of the Russian Federation. 2001. No. 49. Article 4562. ↩

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