Source Pravda.Ru

Bill on securities market prepared for second reading

The State Duma banking committee has prepared amendments to the federallaws on the securities market and on not-for-profit organizations for thesecond reading, the press service of the lower house of the Russianparliament reported.According to the amendments, a legal entity must be a non-commercialpartnership or a joint stock company to run a stock exchange. The activityof a stock exchange can be combined only with the following activities:activity of a currency exchange, commodity exchange, clearing activitybound with operations with securities and investment shares, activity ondisseminating information, publishing activities and activities on lendingproperty.The amendments also stipulate that a stock exchange, which is anon-commercial partnership, can be restructured into a joint stock company.Such decision may be adopted by three fourths of the votes of the membersof a stock exchange..