Translation. Region: Russian Federation –
Source: Central Bank of Russia
An important disclaimer is at the bottom of this article.
Exchanges will be required to mark the shares and bonds of issuers that restrict disclosure of information about their activities, and credit rating agencies will be required to assign them non-credit and credit ratings. The Russian Ministry of Justice has registered Bank of Russia instruction, which is intended to partially mitigate the problem of issuers not disclosing information.
The papers of companies that conceal more information than required by the decrees of the Government of the Russian Federation are subject to marking. No. 1102 And No. 1173This designation is intended for institutional and retail investors and indicates that, due to a lack of information, it is impossible to monitor the company's activities or assess its financial position.
An alternative to ratings is for the issuer, its securities, and the guarantor or surety for them to have ratings from at least two rating agencies. Investors will be able to rely on the agencies' data—symbolic representations of the analysis' findings, a brief press release, or a detailed analytical report. Credit ratings are used for bonds, and non-credit equity ratings are used for equities. These ratings will partially fill the information gap.
The Bank of Russia believes that maintaining trust in the financial market requires the availability of high-quality, reliable information, and therefore it is important that issuers strive to disclose information about themselves in full.
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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.
