The Moscow Exchange announced the return of Russian companies to normal information disclosure

A significant number of Russian issuers have returned to information disclosure standards. This was announced by the head of the department for work with bond issuers and support of national projects of the Moscow Exchange Dmitry Taskin.

According to a representative of the Moscow Exchange, the interests of investors are protected by the government decree of July 1, 2023 on the issuer’s obligation to disclose reports in accordance with IFRS and RAS standards. “This is a key regulatory change, which, in essence, returns the volume and procedure for disclosure that was before the February events of last year, while exceptions in disclosure are allowed, but this applies to information on personalities, large contractors, and so on,” said Dmitry Taskin at the forum “Bonds: bet on an increase” (quote from Prime).

In 2022, the authorities temporarily introduced relaxations in the disclosure of information to protect the interests of business from sanctions. However, the July resolution, according to Dmitry Taskin, allows issuers not to disclose sensitive information, but at the same time actually prohibits not disclosing information at all.

A representative of the Moscow Exchange believes that this resolution returned “a significant number of issuers to the regulatory field in terms of information disclosure.” At the same time, the Moscow Exchange, according to Dmitry Taskin, maintains a list of issuers that violate information disclosure requirements.

According to the interim results of the Moscow Exchange, for the first half of 2023, when disclosing reports under IFRS and RAS, out of 535 companies issuing securities, 338 companies did not reveal any violations, 184 companies disclose information with exceptions, and 13 issuers did not publish reports at all.

Read about reporting disclosure by Russian banks in the material “Banks have lost some of their benefits”.

Anastasia Larina