In response to recent events in Ukraine, the United States (US), European Union (EU), United Kingdom (UK), Japan (JP), and Australia, among others, have imposed a broad range of sanctions and export controls. As a consequence, the settlement and brokerage of Russia related shares, bonds, money market instruments, funds and ETFs (of sanctioned and not sanctioned issuers) are disrupted. These sanctions are complex, multilateral and evolve continuously in response to the developments on the ground in Ukraine. Russia may take retaliatory measures which might lead to have the dealing in some of these securities restricted, frozen, prohibited or at worst your ownership cancelled.
For institutional clients :
Spuerkeess has taken measures linked to the Custody activity and particularly in regards to the brokerage services and the settlement in order to avoid post-trade settlement issues. Spuerkeess invites you to review your pending transactions in order to assess if they are in scope of US, EU, JP, UK and Australia sanctions (or any other jurisdictions). Before you send us your instructions in non-sanctioned Russia related stocks, please contact your Relationship Manager or Spuerkeess's trading desk so to allow for checks and controls before you place an order in these stocks. This is also valid in case you are using external broker(s), as Spuerkeess still needs to check if and how the settlement of these stocks can be handled. Spuerkeess cannot guarantee the contractual settlement of these stocks.
In case you have exposure to Russian markets or companies, we invite you to monitor the situation closely and to take the necessary measures in order to protect the interests of the investors.
For retail & Private Banking customers :
Please note that Spuerkeess has taken the appropriate measures in order to implement the sanctions. Furthermore, the execution and settlement of all financial instruments linked to Russia, be they subject to sanctions or not, may be disrupted. All orders transmitted via S-Net, in our branches or Private Banking may therefore be blocked until further notice. Should you have any further questions, please contact your Relationship Manager.
