MANDATORY DISCLOSURE OF THE INFORMATION ABOUT THE BENEFICIAL OWNERS OF DEPOSITORY RECEIPTS ISSUED ON RUSSIAN LOCAL SHARES
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MANDATORY DISCLOSURE OF THE INFORMATION ABOUT THE BENEFICIAL OWNERS OF DEPOSITORY RECEIPTS ISSUED ON RUSSIAN LOCAL SHARES
Annotation
PII
S0207-36760000392-0-1
Publication type
Article
Status
Published
Edition
Pages
216-224
Abstract
The Federal Laws N 414-ФЗ and N 415-ФЗ signed by President of Russia in the end of 2011 introduced the new requirement for the disclosure of information about the depository receipts' beneficial owners and sanctions for those holders of receipts who were not disclosed properly. After a year the mentioned requirements and sanctions were cancelled partly before they came into force. This article describes some legal aspects of the new regulations and the existing market practice.
Keywords
depositary receipts, by law depository depot programs, disclosure, corporate actions, the federal laws № 414-ФЗ, 415-ФЗ, 282-ФЗ
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