Facts of manipulation in market for JSC National Capital’s bonds established
The Bank of Russia has established facts of market manipulation at exchange trading of JSC National Capital’s bonds of the 03 and BO-06 series (hereinafter collectively, the Bonds) in
The investigation has established that the transactions entailing significant deviations in the trading parameters of the Bonds were concluded by Joint-Stock Company TRANSFINGROUP and TRINFICO Asset Management Company (JSC) using the resources of a non-governmental pension fund, by RWM Capital Asset Management (CJSC) using the resources of unit investment funds, and by KIT Finance Trade (LLC) and JSC TFK-Finance using their equity funds, that acted in collusion through the mediation of KIT Finance (JSC).
An employee of KIT Finance (JSC) assisted the above entities in searching counterparties, as a result of which the above entities conducted transactions, including transactions in the main trading mode of the exchange. Moreover, in a number of cases, an employee of KIT Finance (JSC) acted on behalf of one of the parties in such transactions, issuing orders on behalf of KIT Finance Trade (LLC) based on a power of attorney.
Pursuant to Clause 2 Part 1 Article 5 of Federal Law No.
The Bank of Russia has sent orders to desist from similar violations in the future to Joint-Stock Company TRANSFINGROUP, RWM Capital Asset Management (CJSC), KIT Finance Trade (LLC), JSC TFK-Finance, TRINFICO Asset Management Company (JSC), Vadim Dorofeev, Farit Zakirov, Denis Markov, Alexey Volodarsky, Stanislav Ponomarev, Andrey Belousov, and Dmitry Konovalov.
Taking into account that employees of KIT Finance (JSC) were involved in the violations committed by clients of KIT Finance (JSC) and established by the Bank of Russia, the regulator has also recommended that KIT Finance (JSC) implements measures to enhance the efficiency of internal control over compliance with the Federal Law and related regulations.
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