Ancillary powers of the Central Bank of Russia

Amendments were made to the Federal Law «On Combating Unlawful Use of Insider Information and Market Manipulation and on Amending Certain Legislative Acts of the Russian Federation» by the Federal Law №310-FL from August 3, 2018.

According to the amendments, employees of the Central Bank of the RF (CB RF) are vested with rights of free access while carrying out investigations to the territories and facilities where investigated persons can be located or if there is overwhelming evidence that these persons are informed about investigated issues.

Exception is provided for territories and facilities of the Intelligence bodies and residence of physical persons.

Order, terms and particular characteristics of such investigations are prescribed by the Law. For example, terms of the general rules investigations should not exceed year and a half, and maximum term should not exceed 22 months. Besides, renewal or suspension periods are also included in maximum term.

According to the Annual Report of the CB RF, in 2017in regard to possible violations of regulated markets, 254 financial instruments were analyzed, 72 investigations regarding facts of possible unlawful use of insider information and market manipulation were accomplished, 12 cases of information disclosure were defined on violation of the legislation of the RF regarding combating unlawful use of insider information and market manipulation.