19.02.08

The Federal Financial Markets Service (FFMS) wants to obligate stock exchanges to disclose information about foreign issuers hoping to list stocks on Russian exchanges.

Right now these issues are not regulated by the draft bill considered by the State Duma on direct access to the Russian market for foreigners. Therefore, the department will develop separate regulatory documents. After the law comes into force, foreign companies will be able to list in Russia.

FFMS pointed out that an exchange will be obligated to provide investors with free and timely access to issuer’s information, including access through Internet-resources, otherwise investors will suffer losses due to belated information.

Stock exchanges are not excited over the new FFMS idea, not knowing whether foreign exchanges will be willing to sign information-sharing agreements, and be held responsible for false data since western exchanges are subject to foreign jurisdiction.

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