Morgan Stanley Bank’s licence has been revoked following its decision to participate in voluntary liquidation. The licence was cancelled in accordance with Article 23 of the Federal Law ‘On Banks and Banking Activities’.
According to Verdict, The Bank of Russia will appoint a liquidation commission to Morgan Stanley Bank because of this move. The credit institution has enough assets to meet the claims of creditors, as per the data provided to the central bank.
The application of the banking licence annulment was filed in May 2020 and it includes broker, dealer, and depository activities of the bank.
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