Facts of market manipulation in certain derivative transactions established

The Bank of Russia has established facts of market manipulation in on-exchange transactions with 920 derivatives from 18 March 2019 to 27 June 2022.

Brokerage accounts of relatives Anton A. Zhukov and Olga V. Zhukova were used to make reciprocal transactions with the said financial instruments in collusion to reallocate assets. These transactions caused significant deviations in the 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, A.A. Zhukov and O.V. Zhukova violated the prohibition stipulated by Part 2 of Article 6 of Federal Law No. 224-FZ.

The Bank of Russia sent binding orders to A.A. Zhukov and O.V. Zhukova to cease and desist from similar violations in the future, and took measures to suspend operations in trading accounts of these persons.

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