Putin amends law on stock market

[FaGal]

Putin amends law on stock market www.russiajournal.com - March 10, 2005


MOSCOW - Russian President Vladimir Putin has signed a federal law to amend the federal law on the stock exchange market, Putin's press service has reported.

This bill passed the final reading in the Russian State Duma on February 18, 2005. The Federation Council approved the bill on February 25.

The law cancels the obligatory participation of financial consultants in securities issues. According to the new law, an issuer should make the decision whether a securities prospectus is to be signed by financial consultants or not - excluding the part, which an auditor or assessing party should approve.

Registration authorities are no longer entitled to investigate the credibility of data in documents submitted for state registration of the issue.