Federal Financial Markets Service OKed the ruling on the uniform requirements to classification of Russia’s and foreign securities.
Photo: Alexander Techinsky
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FFMS Opens Russia’s Market
Federal Financial Markets Service has OKed the ruling on uniform requirements to the classification of Russia’s and foreign securities. Once the ruling is finally passed, foreign issuers will get direct access to the market of Russia and Russia’s funds will be able to invest in foreign financial instruments. Moreover, the market players predict some decline in injecting the money into Russia’s funds via offshore areas.
Federal Financial Markets Service elaborated the unified requirements to classification of Russia’s and foreign securities in tandem with the country’s standard authority, Rosstandart. The ruling on introducing new standards was approved yesterday and it will be made public during today’s meeting of FFMS chief Vladimir Milovidov with issuers in Smolensk.
“Once the ruling is passed, Russia’s market will have unified requirements that will be in line with the international standards,” said FFMS deputy chief Sergey Kharlamov.
Very soon, any foreign issuer will be able to launch its stocks on Russia’s market. The pseudo-foreign companies that are operating in Russia - X5 Retail Group, Integra, Evraz Group – are forecasted to pioneer in this undertaking.
www.kommersant.com
All the Article in Russian as of Oct. 24, 2007
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