Facts of manipulation in markets for several securities established
In the course of the inspection, the Bank of Russia established facts of market manipulation in on-exchange trading for ordinary shares of PJSC FG FUTURE (ISIN: RU000A0JWNX4), PJSC Promsvyazbank (ISIN: RU000A0JNX47), PJSC EUROPLAN (ISIN: RU000A0JWZJ7), and PJSC SAFMAR Financial Investments (ISIN: RU000A0JVW89) (hereinafter jointly referred to as the Securities) in the period from 16 December 2016 to 4 August 2017 (hereinafter, the Period).
The transactions, classified as manipulation in the markets for the Securities during the Period, were performed by a client of the Russian professional securities market participant (hereinafter, the broker) — foreign company STARBERRY Limited (registered in compliance with the legislation of the Republic of Cyprus, Registration No. HE 151911). It should be noted that while performing these transactions STARBERRY Limited acted as both buyer and seller (hereinafter, the cross-transactions).
It was established in the course of the inspection that to honour its obligations under the market making agreements in the securities markets the broker involved its client, STARBERRY Limited, which, in its turn, submitted orders to conduct transactions with the Securities marked by a market maker through the automated order system.
As a result of the aforementioned actions of the broker, STARBERRY Limited cross-transactions with the Securities during the Period led to significant deviations in trading parameters of the Securities. However, the exceptions stipulated in Part 3, Article 5 of Federal Law No.
In accordance with Clauses 3 and 4, Part 1, Article 5 of the Federal Law, the transactions of STARBERRY Limited with the Securities during the Period are classified as manipulation in the market for the Securities. Thereby, STARBERRY Limited violated the ban imposed by Part 2, Article 6 of the Federal Law.
The Bank of Russia has sent STARBERRY Limited an order to cease and desist from future violations.
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