Facts of market manipulation in on-exchange trading for Tinkoff Bank bonds established

The Bank of Russia established facts of market manipulation in on-exchange trading for exchange-traded bonds of Tinkoff Bank (ISIN: RU000A102FH4, RU000A102FW3, hereinafter, the Bonds).

Brokerage accounts of relatives Alexander V. Beda and Vladimir A. Beda were used to make transactions in the Bonds in collusion on 3 August 2022. These transactions caused significant deviations in the trading volumes of the Bonds.

According to the findings of the investigation, these transactions are qualified 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, A.V. Beda and V.A. Beda breached the ban imposed by Part 2 of Article 6 of Federal Law No. 224-FZ.

The Bank of Russia has sent binding orders to A.V. Beda and V.A. Beda to cease and desist from similar violations in the future. Furthermore, these persons are subject to administrative proceedings, and transactions in their trading accounts are suspended.

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