Russia » Economics

Russian stock exchange market awaiting default


Default in rapidly expanding Russian market for corporations’ obligation  “would be useful” to test the efficiency of the new system for regulating the market, said Chairman of Federal Commission on Securities in Russia Igor Kostikov.
Currently he is conducting a series of meetings with investors in London. “We are expecting default. It would be useful considering the new regulating base has been created, and we need to test it”, said Mr. Kostikov in a Financial Times interview.
In 2003 Federal Commission on Securities introduced new standards of revealing information for securities issuers. According to Kostikov, these standards correspond with the requirements of  IOSCO international organization uniting state regulators of stock exchange market. In addition, the measures to prevent manipulating prices and insider trading, are being taken. The bill on this is currently being examined by Russian Parliament, the newspaper writes.

Speaking of “YUKOS case”, Igor Kostikov said that it is “solely about taxation”. According to Mr. Kostikov, it took the market only 22 days to compensate the losses in shares after former YUKOS Head Mikhail Khodorkovsky had been arrested.


Source: Strana.ru

Comments
Ticking Time Bomb: Countdown to Armageddon
It is about time Russia should exit Western project
USA prepares Russia's neighbours for WWIII
British army chief says Russia can destroy UK sooner than expected
British army chief says Russia can destroy UK sooner than expected
Russia to build its own space station without USA and Europe
British army chief says Russia can destroy UK sooner than expected
Russia aware of Ukraine's pathetic intentions to disrupt World Cup
About the New Year Address of Marshal Kim Jong Un
Russia aware of Ukraine's pathetic intentions to disrupt World Cup
U.S. Humiliates South Korea, Threatens North Korea
Russia to build its own space station without USA and Europe
Russia to build its own space station without USA and Europe
It is about time Russia should exit Western project
China wants Moscow to confront pressure from Washington together
China wants Moscow to confront pressure from Washington together
British army chief says Russia can destroy UK sooner than expected
British army chief says Russia can destroy UK sooner than expected
British army chief says Russia can destroy UK sooner than expected
Ukraine's Western allies point their guns at President Poroshenko
USA prepares Russia's neighbours for WWIII