Facts of market manipulation in on-exchange trading in PJSC RusHydro corporate bonds established

The Bank of Russia established facts of market manipulation in on-exchange trading in the corporate bonds of PJSC RusHydro (ISIN: RU000A0JTMG7) (hereinafter, the Bonds) over the period from 14 May to 2 September 2021.

Denis A. Kolesnikov and Anatoly G. Kolesnikov, related to each other, carried out transactions with the Bonds in collusion, which caused significant deviations in the price and trading volumes.

According to the findings of the investigation, these transactions qualify as market manipulation pursuant to Clause 2 of Part 1 of Article 5 of Federal Law No. 224-FZ, dated 27 July 2010, ‘On Countering the Misuse of Insider Information and Market Manipulation and Amending Certain Laws of the Russian Federation’ (hereinafter, Federal Law No. 224-FZ).

Thus, D.A. Kolesnikov and A.G. Kolesnikov violated the prohibition established by Part 2 of Article 6 of Federal Law No. 224-FZ.

The Bank of Russia has sent binding orders to D.A. Kolesnikov and A.G. Kolesnikov to cease and desist from similar violations in the future. Furthermore, these persons are subject to administrative proceedings.

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