The Central Bank reported an inflated level of concealment of issuers’ data – Kommersant

Deputy Director of the Corporate Relations Department of the Central Bank of Russia Andrei Zorin said that issuers publish less information than required by law. The regulator, he said, is taking “the necessary supervisory measures.”

“We are faced with the fact that many companies, including large ones, are hiding more (information.— ”b”) than is possible under current legislation,” said Andrei Zorin at the forum of retail investors (quote from “Interfax”).

He added that the Central Bank is preparing “supervisory measures” to ensure that the volume of data complies with the regulatory framework. Earlier, the first deputy chairman of the Bank of Russia, Vladimir Chistyukhin, at parliamentary hearings of the financial market for the next three years, said that the regulator has the right to initiate the exclusion of the issuer from the top quotation list of exchanges if the company does not meet information disclosure requirements.

As Mr. Zorin reported, companies wrote appeals to the Central Bank and the Ministry of Finance with a request to increase the volume of closed data. In 2022, businesses received the right not to disclose sensitive corporate information; the rule was in effect until July 1, 2023.

More details in the text “Kommersant” “Buy this – we won’t say what”.

Petr Buzlaev