Further Changes to Russian Securities Law Aimed at Bringing Liquidity to the Local Market

On December 29, 2012, the President of the Russian Federation signed into law Federal Law No. 282-FZ “On introduction of amendments into certain legal acts of the Russian Federation and on annulment of certain provisions of legal acts of the Russian Federation” amending numerous federal statutes, including Federal Law of the Russian Federation No. 395-1 “On Banks and Banking Activity” dated December 2, 1990, as amended, Federal Law of the Russian Federation No. 208-FZ “On Join-Stock Companies” dated December 26, 1995, as amended, and Federal Law of the Russian Federation No.39-FZ “On the Securities Market” dated April 22, 1996, as amended.

In the enclosed memorandum we describe certain amendments to share issuance procedure and regulation of the securities market in the Russian Federation which might be of interest to you. If you have any questions, please feel free to contact any of your regular contacts at the firm or any of our partners and counsel in the Moscow Office section of this website.