- However, Russian ADRs and GDRs can currently also be converted into local shares through a legislative initiative of the Russian Federation which does NOT require the collaboration (or even consent) of Western banks and brokerage firms. These local shares will then be held in a so-called Russian “S” account, a limited brokerage account that foreigners can open without having to travel to Russia. Anyone not converting before 12 October 2022 now runs the risk of losing everything. This deadline may be extended, but this matter is now one of real urgency.
- A Switzerland-based law firm is now offering a full-service package for converting ADRs and GDRs into local shares. READ MORE
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