Rus News Journal

the Code establishing structures of administrative offences in the field of a securities market

Has come into force the Code establishing structures of administrative offences in the field of a securities market Has come into force. ABT it " News " have informed in the Federal commission on a securities market/ Federal Commission on Securities/ to Russia.

According to norms of the document, administrative sanctions will be established for unfair issue of securities, illegal transactions W securities, for infringement of requirements of the legislation, concerning representations and information disclosings on a securities market, discouraging to realisation by the investor of the rights on management of an economic society, use of the office information on a securities market, infringement of rules of conducting the register of owners of securities, and also for evasion from transfer to the registrar of conducting the register of owners of securities.

The New Code establishes a manufacture order on affairs ABT such offences which will be considered in the general order established in the document 4 all administrative offences. A state structure which is engaged in disposal of legal proceeding ABT infringements on a securities market, will be Federal Commission on Securities of Russia.

it is necessary to notice that in the Code the top limits of penal sanctions for infringements on a securities market are considerably changed. The top limit of sanctions makes 500 minimum wage rates, while earlier, according to the Federal law " ABT protection of the rights and legitimate interests of investors on a securities market " it made 10 000 minimum wage rates.