Russian legislation has made another important step towards the creation of progressive legislation on securities

29 July 2010

The Federal Law on Insider Trading was enacted as a response to the burgeoning demand by the securities market players and as a measure to implement a strategy to develop a financial center in Moscow and make Russia a leading pan-CIS contractual jurisdiction.

The Federal Law on Insider Trading introduces legal definitions of terms “insider information”, “dissemination of information”, “operations with financial instruments, foreign currency and/or goods”, delineates which information shall be deemed insider information for the purposes of the Federal Law on Insider Trading, defines which companies and persons are considered as insiders and which actions constitute market manipulation.

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