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04 March 2010

Control of Insider Trading Activities and Manipulation of Market

Magazine "Securities Market" published article by Law Synergy Managing Partner Andrey Savin dedicated to insider trading activities and manipulation of market at Russia. 

On October 30, 2009, Federal Law of the Russian Federation No. 241-FZ "On Making Amendments to the Criminal Code of the Russian Federation and Article 151 of the Criminal Procedural Code of the Russian Federation" was enacted. The Federal Law is aimed as strengthening the protection of investors in the securities market. The State Duma approved the first reading of the draft law "On Counteracting Unlawful Use of Insider Information and Manipulation of the Market" on April 17, 2009. The draft law aims to establish comprehensive regulation of the use of insider information and market manipulation in “organized markets” – meaning any forum in which trades are performed using an exchange or other licensed trading platform.

The laws also serve as a major building block for Government initiatives to establish Russia as an international financial centre and define the new role for the country in the post-crisis international financial architecture.

Read article (Russian) at "Securities Market" web-site (preamble of article) | lawsynergy.ru (full text of article)




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