Following President Biden’s Executive Order from February 24th, 2022 prohibiting U.S. business with Ukraine’s breakaway regions, OFAC has issued Directive 3 under E.O. 14024, imposing blocking sanctions on several securities. Â
What does this mean?
As of March 26, 2022, our clearing firm, DriveWealth, will make the following securities inactive:
- MBT Mobile TeleSystems PJSC
- OZON Ozon Holdings PLC
- YNDX Yandex NV Common Stock
- ERUS iShares MSCI Russia ETF
- RSX VanEck Russia ETF
This directive prohibits new debt and new equity transactions, which means that these sanctioned securities previously purchased by clients can no longer be purchased or sold.
What this means for you:Ă‚
Our clearing firm, DriveWealth, can no longer offer opening or closing transactions in these securities. These securities will continue to be held in your account for now.Ă‚ Ă‚
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Our team members at Vested may own investments in some of the aforementioned companies/assets. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment or strategy will be suitable or profitable for an investor’s portfolio. Note that past performance is not indicative of future returns. Investing in the stock market carries risk; the value of your investment can go up, or down, returning less than your original investment. Tax laws are subject to change and may vary depending on your circumstances.
This article is meant to be informative and not to be taken as an investment advice, and may contain certain “forward-looking statements,” which may be identified by the use of such words as “believe,” “expect,” “anticipate,” “should,” “planned,” “estimated,” “potential” and other similar terms. Examples of forward-looking statements include, without limitation, estimates with respect to financial condition, market developments, and the success or lack of success of particular investments (and may include such words as “crash” or “collapse”). All are subject to various factors, including, without limitation, general and local economic conditions, changing levels of competition within certain industries and markets, changes in interest rates, changes in legislation or regulation, and other economic, competitive, governmental, regulatory and technological factors that could cause actual results to differ materially from projected results.
This video is meant to be informative and not to be taken as an investment advice and may contain certain “forward-looking statements” which may be identified by the use of such words as “believe”, “expect”, “anticipate”, “should”, “planned”, “estimated”, “potential” and other similar terms. Examples of forward-looking statements include, without limitation, estimates with respect to financial condition, market developments, and the success of or lack of success of particular investments (and may include such words as “crash” or “collapse”.) All are subject to various factors, including, without limitation, general and local economic conditions, changing levels of competition within certain industries and markets, changes in interest rates, changes in legislation or regulation, and other economic, competitive, governmental, regulatory and technological factors that could cause actual results to differ materially from projected results.