The Central Bank called the situation with the “bankruptcy” of St. Petersburg Exchange close to a crime

The head of the service for protecting consumer rights and ensuring the availability of financial services of the Central Bank (CB) of Russia, Mikhail Mamuta, said that the story of the bankruptcy petition of St. Petersburg Exchange requires an investigation by law enforcement agencies and the regulator. The situation, he said, looks like an attempt to manipulate the market and is close to a crime.

“What we saw yesterday, I don’t even know what to call it. This is not an abuse of law, but something close to a crime. It seems to me that law enforcement should figure out what happened,” Mr. Mamuta told reporters on the sidelines of the Central Bank conference “Focus on the Client” (quote from “Interfax”).

The Central Bank representative added that the exchange did not file for bankruptcy, but “someone did.” The regulator has not received any complaints from investors in connection with this situation, Mikhail Mamuta clarified.

“It looks like the market fell very hard, then quickly grew back, and someone could make money on it,” suggested the head of the Central Bank service. He did not rule out the possibility that it was an accident.

The filing of a bankruptcy petition for St. Petersburg Exchange became known on November 27. Against this background, shares of the trading platform on the Moscow Exchange fell by 30%. The press service of the St. Petersburg Exchange reported that the company did not file for bankruptcy, and the Moscow Arbitration Court returned the bankruptcy claim.

More details in the text “Kommersant” “Bankruptcy was traded on the St. Petersburg Exchange”.

Petr Buzlaev