List of detected cases of the misuse of insider information and market manipulation (market abuse)
| № | Release date | Type | Marks | Instruments | Offenders | Period of activity | Measures taken |
|---|---|---|---|---|---|---|---|
| 38 | 12.11.2014 | Market manipulation with investment units | The prices set for investment units during trading sessions were not market-based, or fair and did not reflect the true value of the financial instrument. The market for investment units was almost completely created artificially by a group of interconnected entities. These entities were sustaining trading activities on the market for investment units and their quotations by executing collusive trades. | ZPIFC RKS, closed-end credit unit investment fund Rossiyskiy Kreditny Soyuz (Russian Credit Union) | A group of interconnected legal entities and private individuals, also having links with OOO MFOND (MFOND LLC), the asset manager of ZPIFC RKS | From November 2011 to September 2013 | Revocation of the licences authorizing professional activity in the securities market held by legal entities, professional securities market participants, manipulating the market for investment units. Cancellation of qualification certificates held by individuals involved in market manipulation. Imposing civil penalties. |
| 37 | 10.07.2014 | Misuse of insider information | ONEXIM HOLDINGS LIMITED employee S.S. Gorskiy handed over insider information about a planned offer to ARDELICA JSC. ARDELICA JSC bought JSC Opin shares on CJSC Moscow exchange trades using the insider information. Shares bought on the trades were stored by FOESTA LIMITED represented by S.S. Gorskiy. The final beneficiary of the manipulations was ONEXIM HOLDINGS LIMITED | Otkritiye Investicii, JSC | ARDELICA JSC, FOESTA LIMITED Рё ONEXIM HOLDINGS LIMITED (S.S. Gorskiy) | February 2012 | Improvement notices concerning prevention of such offences in future are sent to ONEXIM HOLDINGS LIMITED, ARDELICA JSC, FOESTA LIMITED, and to S.S.Gorskiy |
| 36 | 23.06.2014 | Manipulations in investment units market | Investment units market was almost completely simulated. Prices on the investment units on CJSC Moscow Exchange trades (like other trade characteristics: volume, supply and demand) were formed in non-market ways and intentionally supported by concerned individuals and legal entities related to each other. The parties accomplished the greatest part of trade volume with the investment units on the stock exchange. The parties involved were customers of the same professional securities market participant. | Agrokapital, closed-end investment rent income fund | Individuals and legal entities related to fund management company Euro Trust management company, LLC, a number of professional securities market participants and several individuals and legal entities | 2012 and 2013 | Cancellation of securities market specialist qualification sertificates from officers of the companies, which were financial market professional participants and which took part in manipulations. Imposition of administrative sanctions. |
| 35 | 28.05.2014 | Manipulations in investment units market | Prices on the financial instrument were formed by trading in non-market ways, intentionally supported (like other trade characteristics: volume, supply and demand) by concerned parties related to each other. Shares market was almost completely simulated. Investment units prices were not fair and were not associated with true value of the financial instruments. | „Third reserve fund”, Interval mutual investment fund of mixed investments | Customers of Fineko, LLC — russian and foreign individuals and legal entities. Involved individuals also took different positions in ORF JSC and in Fineko, LLC which are professional securities market participant | 2011 and 2012 | Licence revocation from securities market professeional participant for broker activities (Fineko, LLC), cancellation of securities market specialist qualification certificates by chief executive officer of ORF management company, JSC, chief executive officer of Fineko, LLC and compliance officer of Fineko, LLC |
| 34 | 28.05.2014 | Manipulations in ordinary shares market | Prices on the financial instrument were formed by trading in non-market ways, intentionally supported (like other trade characteristics: volume, supply and demand) by concerned parties related to each other. Shares market was almost completely simulated. Share prices were not fair and were not associated with true value of the financial instruments. | ORF management compnay, JSC | Customers of Fineko, LLC — russian and foreign individuals and legal entities. Involved individuals also took different positions in ORF, JSC, and in Fineko, LLC, which are professional securities market participants | 2011 and 2012 | Licence revocation from securities market professional participant for broker activities (Fineko, LLC), cancellation of securities market specialist qualification certificates by chief executive officer of ORF management company, JSC, chief executive officer of Fineko, LLC, and compliance officer of Fineko, LLC |
| 33 | 27.02.2014 | Manipulations in registered preference shares market | Shares transactions accomplished on preliminary agreement and resulting in shares price and trade volume derivations. | Transneft, JSC | URSA capital, LLC acting in own best interest and Inresbank, LLC acting for the benefit of its customer — legal entity | December 2012 — March 2013 | Cancellation of traders qualification certificates |
| 32 | 27.02.2014 | Manipulation in shares market | Transactions are qualified as these on preliminary agreement and can be classified as market manipulations | No information avaliable | Republic investment company, LLC, Republic financial corporation JSC and Inresbank LLC | December 2012 — April 2013 | Licence revocation from securities market professional participant for securities market activities. Cancellation of financial market specialist qualification certificates |
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Last updated on: 12.11.2014