On 30 January 2012, the Federal Service for Financial Markets of the Russian Federation (the “FSFM”) published on its official website a draft law to establish the procedure for the placement and public offering of bonds of international financial organisations in Russia (the “Draft Law”).
The Draft Law is intended:
- to replace the current Regulation No. 10-20/pz-n of the FSFM, dated 23 March 2010, in terms of the procedure for issuing securities of foreign issuers (including foreign states) for placement and/or public offering in Russia; and
- to establish a simplified procedure for registering a prospectus.
The Draft Law is expected to simplify the procedure for international financial institution to have access to the Russian securities market. This step may be viewed as another stage in establishing an international financial centre in Russia.
[The draft order of the Federal Service for Financial Markets of the Russian Federation “On Approving the Registration Procedure of the Prospectuses of Foreign Issuers for Placement and/or Public Offering in the Russian Federation by the Decision of the Federal Authority on the Securities Market” may be read in Russian at the following link: http://www.fcsm.ru/ru/legislation/documents/projects/index.php?id_3=8098&year_3=2012&month_3=1]