Publications

The FSFM proposes to allow issuers that do not fall within the scope of the Law on Foreign Investment in Strategic Sectors to establish depositary receipt programmes for up to 100% of their shares irrespective of the jurisdiction of the depositary bank and to lift the existing limitations on selling Russian shares abroad (the so-called "50/50 rule").
Draft of the amendments to the Regulation on the placement and circulation of securities of Russian issuers abroad was published by the FSFM on its official website for discussion purposes yesterday. It can be accessed through this link http://inform.cliffordchance.com/ve/ZZ653131z62k3183c858376/stype=click/OID=71172215329882/VT=0.

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