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QuotedData’s morning briefing 24 May 2024 – JEMA

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In QuotedData’s morning briefing 24 May 2024:

  • JPMorgan Emerging EMEA Securities (JEMA) has announced that further to its announcement on 25 April 2024 that it has been named as a defendant to civil proceedings being brought by VTB in the Russian courts, which were commenced on 17 April 2024 (click here to see our coverage of that), JEMA’s manager has today informed the Board of the following: “Following a Russian court hearing on 22nd May 2024, it has now been confirmed that JEMA’s assets (both securities and funds) held in S accounts in the name of JPMorgan Bank International (JPMorgan’s Russian subsidiary) are not subject to the previously mentioned freezing order and the civil proceedings being brought by VTB in the Russian courts, which were commenced on 17th April 2024. We will continue to monitor the proceedings and update you on relevant developments.”

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