Putin approved a list of instructions to combat market manipulation

Russian President Vladimir Putin has introduced amendments to the regulations governing the fight against the misuse of insider information and market manipulation. This is reported on December 9 on the Kremlin website.

The list notes that the changes, addressed to the Government of the Russian Federation, prepared jointly with the Bank of Russia and the Supreme Court.

It is planned to increase to 100 million rubles the minimum amount of damage caused for criminal liability for crimes in the field of market manipulation and misuse of insider information. In addition, the statute of limitations for administrative liability for such offenses will be increased.

Moreover, the administrative fine for such offenses will be a multiple of the amount of illegally obtained income. The minimum fine will also increase.

In case of criminal liability for market manipulation, it is planned to confiscate property. At the same time, additional mechanisms of exemption from criminal liability will be introduced for those who committed such a crime for the first time, but on condition of compensation for damage.

Corresponding amendments are proposed to be made to the legislation of the Russian Federation. The deadline for the execution of the order is April 1, 2025.

Putin separately instructed the Russian government to monitor compliance by companies with state participation with the requirements of Russian legislation when dealing with insider information.

Earlier in the day it was reported that banks in the III quarter of 2024 protected customers from 16.1 million attacks of network fraudsters, preventing them from stealing Br4.9 trillion. This was reported in the Central Bank of Russia.

At the same time, the Central Bank said that fraudsters have more often tried to deceive Russians by placing ads for attractive vacancies or internships in government organizations, large companies or the Central Bank. Responding applicants are asked to fill out a questionnaire from which the criminals obtain personal and banking information of the victims, and after a remote "interview" they ask them to transfer money allegedly to sign an employment contract or install a fake application with a virus.