Regulatory Alerts2017-03-02
Regulation No. 04/2017 on Central Securities Depository Operations
The National Bank of Rwanda issued Regulation No. 04/2017 to establish the operational framework and conditions for Central Securities Depository activities involving book-entry securities. The regulation mandates licensed CSD participants and investors to open and maintain dedicated securities accounts, ensuring all deposited assets are held in dematerialized form under the direct ownership of account holders. It further standardizes procedures for account updates, transfers, initial public offerings, and liability limitations while granting the Central Bank authority to prescribe operational rules and approve contractual variations.
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