Russian c-bank annuls dealer license of Merrill Lynch Securities
The Central Bank of Russia today posted a brief notice announcing that it has made a decision to annul the dealer license of Merrill Lynch Securities.
The license was issued on February 25, 2010, and is now being annulled following an application for withdrawal of the license submitted by Merrill Lynch Securities itself.
The regulator does not provide more details regarding the move but the website of the company shows that the application for the license annulment was signed on August 17, 2020 and was sent to the central bank on October 8, 2020.
Let’s note that the company also has a Russian broker license. Today’s announcement by the Russian central bank does not mention anything about this license.
Earlier this year, the Central Bank of Russia annulled the banking license of Morgan Stanley Bank. The reason for the regulatory move was an application by the company itself for the cancellation of the license. The Central Bank said Morgan Stanley Bank had sufficient funds to satisfy the creditors’ demands.