1 June 2015
On 14 April, the CNMV appointed Cecabank as the provisional depositary of the 21 investment funds managed by Banco de Madrid Gestión and deposited in Banco de Madrid. On Friday, 29 May, Cecabank was registered as the depositary of these funds.
This decision means that the part of the investment funds that are not blocked by the insolvency practitioner or third parties, will be able to start operating normally in the markets.
Henceforth, the subscription and reimbursement procedure will be defined by the CNMV in its memorandum dated 11 May.
Cecabank is in the process of assuming the same responsibility for the SICAV of Banco de Madrid, having been designated as a depositary by their general meeting of shareholders.
