Vladimir Gusakov, Managing Director for Relations with Moscow Stock Exchange Authorities, acknowledged that insider trading risks on the Russian stock exchange may increase due to limited disclosure of information by market participants – issuers of stocks and bonds. In this respect writer RBC edition.
Gusakov pointed out that issuers of securities no longer disclose or disclose information about their activities to a limited extent. At the same time, the Central Bank, audit companies, rating agencies and the National Clearing House (NCC, a structure of the Moscow Stock Exchange) have all these data in full.
“The presence of information in some categories and the absence of it in others can lead to insider trading,” said the head of the Moscow foreign exchange department.
Therefore, in his view, a return to disclosure by issuers is required, with certain restrictions taking into account the current “difficult” situation.
Gusakov noted that last year, less than 50% of stock issuers and 30% of bond issuers exercised their right not to disclose. At the same time, a representative of the Moscow Stock Exchange said that at the beginning of February this year it was more than 50% and 30%, respectively.
August 29, Director of the Listing Department of the Moscow Exchange Ekaterina Nagaeva statedThe Russian stock market has become less transparent due to the reluctance of some institutional issuers of securities to disclose information to investors.