The Moscow Exchange marked a number of shares of major issuers for incomplete disclosure
The Moscow Exchange marked the shares of Sovcomflot, Surgutneftegaz, Bashneft, NCSP and a number of other companies for incomplete disclosure of information. Delay to address disclosure violations ends for companies on October 1
The Moscow Exchange marked the shares of Sovcomflot, Surgutneftegaz, Bashneft, NCSP and a number of other companies for limiting the disclosure of information about their activities, follows from the data of the trading platform. First on the marking drew the attention of “Interfax”. The exchange’s website does not specify the date of assigning the labels, but the delay to eliminate violations on disclosure ended for a number of issuers on October 1.
Marks for incomplete disclosure also received shares of the following companies - RN-Western Siberia, Saratov Oil Refinery, Slavneft-Megionneftegaz and Slavneft-Yaroslavneftegsintez.
On April 1, the Moscow Exchange announced the start of marking securities that poorly disclose information of issuers. On the same day, new securities listing rules came into effect, which included cases where issuers could avoid labeling:
for bond issuers, the marking is not applied if there are two credit ratings not lower than the A- level of the bond issuer, the issuer or the guarantor; for issuers of shares - if there are two non-credit (star) ratings not lower than "***".
The document also provided for a temporary exception to the rules until October 1, 2026 for shares of Russian companies included in the list of companies that have the right to independently determine the composition and (or) the amount of information to be disclosed and (or) provided.
Then the first marks were the shares of Unipro, Akron, GAZ, TGC-2. Special marking for incomplete disclosure was then received by a number of bond issuers: Peresvet Bank, Bashneft, Mosenergo, Rusnano, NCSP, Rusbond-Fertilizer and SUEK-Finance.
The initiative to label companies with incomplete disclosure originally belonged to the Bank of Russia. At the end of January, the regulator published a directive in which it obliged exchanges to label stocks and bonds of issuers that limit the disclosure of information about their activities.
The Central Bank then noted that the corresponding marking will be subject to the securities of companies that hide more information than provided for by government decrees No. 1102 (to reduce sanctions risks) and No. 1173 (grants the right to banks to hide part of the data).
