Medvedev signs Russian law on market crimes
November 1, 2009
Moscow - President Dmitry Medvedev on Sunday signed into law a Russian bill that introduces jail terms for traders and journalists convicted of stock market manipulation, the Kremlin web site said.
The law introduces criminal charges for stock market manipulations involving more than one million rubles (23,260 euros/34,425 dollars).
The law change was urged by Prime Minister Vladimir Putin in February, when he called for "real and inescapable" punishment for insider trading and other shady practices.
According to the law, price manipulation is punishable by between two and six years in prison or a fine of from 500,000 rubles to one million rubles.
If the crime includes the use of mass media or the Internet, the punishment is a jail term of five to seven years.
Stock market manipulations covered by the law include price fixing and disclosure of information that could significantly affect share prices. - AFP
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