The amendments are made to the RF Code on administrative offences and to the Federal Act "On securities market"
The Federal Act N 9-FZ of February 9, 2009 (document is
in Russian) has made
the amendments to
the Russian Federation Code on administrative offences (document
is in Russian) in the part of forcing of administrative responsibility
for violation of the Russian Federation legislation about joint-stock
companies, limited liability companies, securities market and
investment funds. In accordance with these
amendments, there are established two new kinds of administrative
responsibility for: violation of legislation requirements on
documents storage; violation of legislation requirements on
preparation and carrying out general meetings of stock-holders,
participants of limited (additional) liability companies and
owners of investments shares of closed share investment funds;
illegal issuance or turnover of documents verifying monetary
and other obligations; violation of the Russian Federation legislation
requirements concerning activity of professional participants
of securities market, joint-stock investment funds, non-state
pension funds, managing companies of joint-stock investment
funds, share investment funds or non-state pension funds, specialized
depositaries of joint-stock investment funds, share investment
funds or non-state pension funds; manipulation with prices on
securities markets; illegal use of the words "investment
fund" or word-groups combined on its base; nonpresentation
of information to federal executive authority on the sphere
of financial markets.
Besides, the
Act makes
amendments to
the Federal Act N 39-FZ "On securities market" of
April 22, 1996 (document is in Russian) in the part of correction
of determination and concretization of the signs of manipulation
with prices at securities market. In particular, there determined
the activities being not manipulation with prices at securities
market providing on paragraphs third -tenth of clause 2 of
article 51, made in an issuer's interests.
