The head of the Russian Central Depository — National settlement Depository (NSD) — can be a Marina Alekhina, the wife of the first Deputy Chairman of the Central Bank Sergey Shvetsov. To avoid conflict of interest, the Bank of Russia will have to change the supervision of NSD is to pass it on from gentleman to another Shvetsov first Deputy Chairman. According to sources, “b”, the assignment can happen in the next month.The Commission on appointments NSD, a member of the Moscow exchange earlier this week approved the recommendation of the Supervisory Board of the Depositary for the appointment of the new head. As the candidate selected Marina Alekhina, who previously headed one of departments of the Central Bank, and last year a few months held the position of Chairman of the National clearing center (NCC, part of Moscow exchange group). About the solution “b” was told three sources close to the marketplace. “The issue has been resolved. It is planned that her candidacy will be agreed within a month,” says one of the interlocutors “Kommersant”.The current head of NSD Eddie Astanin will be headed by the NCC (see “Kommersant” on March 11). As reported by “Kommersant”, the representative of the Moscow exchange, the Commission on appointments and remuneration of the NSD reviewed the shortlist of candidates for the post of the head of Depositary. “Further, the head teacher must be approved by the Supervisory Board of the stock exchange and NSD and agreed by the regulator. It is expected that this may occur before the end of the month,” he said. The specific names on the exchange is not known.NSD has the status of a Central Depository keeps records of securities, as well as many related functions, in particular for the transmission of financial messages. NCC is a clearing organization and Central counterparty, is responsible for settlements on trades, in particular, establishes the amount of the collateral.Photo: McClaren Alekhine until last summer worked as the Director of operations Department of the Central Bank (formerly the Department support and control of operations on financial markets). Shared her work experience with the Bank of Russia amounted to about 15 years. There she married first Deputy Chairman of the Central Bank Sergey Shvetsov. In June of 2019, she took the position of Vice-Chairman of NCC, within the framework of a coordinated business processes, clearing activities, payments and accounting operations, as well as development of it systems. But six months later, she left the NCC, as explained by two sources of “Kommersant”, because of a conflict of interest because her husband is in charge of the objects of the exchange infrastructure.According to interlocutors of “Kommersant”, until the end of spring the Marina Alekhina were not included in the list of candidates for the post of head of NSD. The main contenders were the head of the Depository of Sberbank Yury Dubin, Deputy head NSD Maria Krasnova, member of the Board of the specialized Fund “Insur-the Capital” Anton Ostrovsky and head of the depar��amenta of securities services ROSBANK Michael Bratanov. However, as said one of the interlocutors “Kommersant”, close to the exchange, a conflict of interest with the planned appointment of Mrs. Alekhine was resolved. NSD declined to comment, the Central Bank did not respond to a request “b”. One option for the resolution of conflicts of interest is the change in the official position of a person who is a party to the conflict, said counsel Bureau A-PRO Julius Rovinsky. He noted that, apparently, the Central Bank is trying to do just that — to change the duties of the first Deputy Chairman to the parties to the conflict are unable to obtain preferences from the situation. According to the lawyer, and conflicts of interest meet regularly and as regularly resolved, it is a regular routine for civil servants, employees of the Central Bank and other agencies.Marina Alekhina know a few stock market participants. “She has long worked in the Bank of Russia and has proven itself over six months of working at NCC”,— says one of Kommersant’s sources in the market. “In custody case she’s new,” adds another source of “Kommersant”.Polina Smorodskaya, Ilya Usov
