Poland: Implementation of omnibus account delayed

Further to our Announcement A12025, dated 3 February 2012, the Polish Financial Supervision Authority (PFSA) is still in the process of approving the National Depository for Securities (NDS) regulations introducing new processes for servicing omnibus accounts.

As a consequence, the operational implementation of omnibus accounts will be delayed on the market and, therefore, also in Clearstream Banking¹.

The earliest possible implementation date of the NDS regulations is now expected to be 1 April 2012 but this is still subject to official confirmation.

In the meantime, we remind our customers that holding Polish securities through Clearstream Banking remains subject to the current conditions as indicated in the existing published Clearstream governing documentation.

Please also note that internal trades remain not allowed.

Further information

Further details will be advised later.

For further specific information, please contact Clearstream Banking Customer Service or your Relationship Officer.

1. Clearstream Banking refers to Clearstream Banking, société anonyme, registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).