Business offered to forcibly return control over public groups to Russia
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Big business proposed to the government to adopt a law on the forced transfer of shares and depositary receipts of Russian companies from foreign exchanges to the Russian Federation. The Russian Union of Industrialists and Entrepreneurs (RSPP) has prepared a draft of special regulation for this. It provides for the issue of shares, which will have to replace the securities of foreign public companies that act as holding or parent companies for Russian groups.
The President of the association, Alexander Shokhin, sent for consideration to First Deputy Prime Minister Andrey Belousov a draft Federal Law “On the peculiarities of admission to organized trading of shares of economically significant organizations under foreign corporate influence”, as well as amendments to the law “On the securities market” (the document is available from “ Vedomosti”, its authenticity was confirmed by a source close to the RSPP).
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