Many issuers currently limit disclosures due to sanction risks, creating information asymmetry in the public capital market. This situation leaves investors without essential information for making informed decisions.
To address this issue, the Bank of Russia has proposed marking securities from issuers that disclose insufficient information. This measure aims to help investors assess investment risks and exercise their rights associated with these securities. Bonds may not require marking if they have credit ratings from two rating agencies. The regulator has released a draft ordinance for public consultation.
The document also outlines corporate governance requirements for issuers whose shares are or will be on quotation lists. It sets conditions for delisting securities when an issuer undergoes restructuring or liquidation. Additionally, the ordinance specifies requirements for investment units of unit investment funds to be included in the list of securities admitted to on-exchange trading.