Analysis of 39 Federal Laws on the securities market. Law “On the Securities Market. Rights and restrictions

Market valuable papers Is the economic turnover of shares and financial relations between their owners. In other words, it is financial part the market in which exchange instruments are used. Securities are one of the types of financial instruments.

According to the Civil Code Russian Federation a security is a standard form and data document that defines the proprietary rights of the owner. You can transfer or exercise these rights if you have at least one share with you. Section 128 Civil Code states that the security determines civil rights on movable property.

Real the federal law regulates the relations that arise during the circulation of securities. The type of issuer does not matter. The peculiarities of circulation of other shares, which are provided by professional market participants, are also taken into account.

In addition, this Federal Law determines the rules according to which trades are organized. Securities are admitted to trading if they are accounted for. Accounting is carried out on the basis of the current Federal Law. The exchange takes into account the listing after they are included in the quotation lists. Accounting in such lists means that owners are allowed to bid.

Accounting for securities is carried out only after the conclusion of an agreement with the issuer.

The exceptions are cases in which:

In accordance with the law, accounting is carried out by federal government bodies authorities or the Bank of Russia;
The accounting is carried out by the trader himself, if the owner of the securities is himself;
They are not included in quotation lists if the securities were registered at another trading event;
Other cases provided for by this Federal Law.

The Federal Law "On the Securities Market" was adopted by the State Duma on March 20, 1996, and approved by the Federation Council on April 11 of the same year. Last changes were introduced at latest edition dated June 30, 2017.

Summary of the Federal Law:

Chapter 1 - Describes the relations that are determined by this Federal Law;
Chapter 2 - Lists species professional activity on the securities market;
Chapter 3 - Describes the admission of shares to trading;
Chapter 4 - Determines the main provisions on equity securities;
Chapter 5 - Defines the basic concept of emission;
Chapter 6 - Describes the circulation of securities;
Chapter 7 - Discloses information on the market;
Chapter 8 - Describes the purposes for which the service information can be used;
Chapter 9 - Describes the rules for advertising on the market provided for by this Federal Law;
Chapter 10 - Lists the basics of market regulation;
Chapter 11 - Regulates the activities of professional participants in the market;
Chapter 12 - Lists the functions and powers of the Bank of Russia;
Chapter 13 - Describes a self-regulatory organization in the field of the financial market.

Last changes

As mentioned above, the date of amendments to the law at the last revision is June 30, 2017. Amendments were made in two articles: article 14 and article 17.2.

Article 14.

In subparagraph 1 of Article 14 of this Law, the sentence “ listing of federal government securities or bonds of the Bank of Russia ”.

Article 17.2

Article 17.2 of this law was supplemented with clause 7. It states that the provisions and rules current article do not relate to the procedure for the acquisition of securities by the Bank of Russia under repo agreements.

Below are the articles in which no changes were made during the last revision. However, they contain important information.

Article 1.

In article 1 of the Federal Law "On Stock market»The subject of regulation of this Federal Law is determined. This is the relationship that arises in the case of circulation and issue of securities. The type of issuer does not matter. The article also describes that other actions that are provided for by the Federal Law may participate.

Article 2.

Article 2 of the Federal Law "On the Securities Market" describes the basic concepts that are used in this Federal Law.

For example:

An equity security is any stock that is characterized in the following aspects:

Takes into account property and non-property rights;
Has the same terms and scope for the exercise of the law. The time of purchase of a share does not play a big role;
Published in issues.

A share is an equity security that has one owner, who is also a shareholder.

A bond is an equity share. According to the law, its owner has the right to receive its face value at any time. In some cases, the owner may receive a fixed percentage of the par value or other property rights. The yield on a bond is equivalent to a percentage of the profit.

An issuer is a legal entity, local government, executive government body or other event organizer. He is responsible to the owner of the securities or to himself. In other words, he makes sure that the rights assigned to these shares are not violated.

Article 8.

Article 8 of the Federal Law "On the Securities Market" describes the work on keeping records of the owners of securities.

In the course of carrying out such work, several processes are involved:

Accounting;
Information control;
Storage of information.

Such work should be carried out exclusively legal entities... If a person expresses a desire to take up the maintenance of the register, he is renamed as the holder of the register. At the request of the issuer, a participant in the securities market may become the register holder. The main condition is to have a license with you, the effect of which allows you to keep the register. Other cases provided for by federal laws are also possible.

Article 30.

Article 30 of the Federal Law "On the Securities Market" defines the concept of "information disclosure". In other words, the term information disclosure means the availability of information for all interested parties. In other words, disclosed information does not require privileges to gain access by law. If a prospectus of shares or Russian depositary receipts is registered, access to the information is carried out on the market.

Download Federal Law "On the Securities Market"

The Federal Law "On the Securities Market" includes 13 chapters and 53 articles. It determines the owners of shares on financial market... Lists the features and rights of specific individuals who can participate in the auction. To analyze the main aspects in more detail, read the changes, additions and amendments legislative provisions, download 39-ФЗ on.

Expired

This Federal Law regulates relations arising in the course of the issue and circulation of equity securities, regardless of the type of the issuer, in the circulation of other securities in cases stipulated by federal laws, as well as the specifics of the creation and activities of professional participants in the securities market.

Secures the totality of property and non-property rights subject to certification, assignment and unconditional exercise in compliance with the form and procedure established by this Federal Law;

A share is an equity security securing the rights of its owner (shareholder) to receive part of the profit of a joint-stock company in the form of dividends, to participate in management joint stock company and for a part of the property remaining after its liquidation. A share is a registered security.

A bond is an issue-grade security securing the right of its owner to receive a bond from the issuer within the term stipulated in it for its par value or other property equivalent. A bond may also provide for the right of its owner to receive a fixed percentage of the par value of the bond or other property rights. Bond yield is interest and / or discount.

Issuer's option is an issue-grade security securing the right of its owner to purchase within the period specified in it and / or upon the occurrence of the circumstances specified in it, a certain number of shares of the issuer of such an option at the price specified in the issuer's option. The issuer's option is a registered security. Decisions on the placement of the issuer's options and their placement are carried out in accordance with the rules for the placement of securities convertible into shares established by federal laws. In this case, the price of the placement of shares in fulfillment of the requirements for the issuer's options is determined in accordance with the price specified in such an option.

Issue of equity securities - a set of all securities of one issuer, granting the same amount of rights to their owners and having the same par value in cases where the presence of the par value is stipulated by the legislation of the Russian Federation. A single state registration number is assigned to the issue of equity securities, which applies to all securities of this issue, and if, in accordance with this Federal Law, the issue of equity securities is not subject to state registration, - an identification number.

Additional issue of equity securities - a set of securities placed in addition to previously placed securities of the same issue of equity securities. Additional issue securities are placed on the same terms.

Issuer - a legal entity or executive bodies or local self-government bodies, bearing on their own behalf obligations to the owners of securities to exercise the rights enshrined by them.

Registered equity securities - securities, information about the owners of which should be available to the issuer in the form of a register of securities owners, the transfer of rights to which and the exercise of the rights assigned by them require mandatory identification of the owner.

Bearer-grade securities are securities, the transfer of rights to which and the exercise of the rights enshrined by them do not require identification of the owner.

Documentary form of equity securities - a form of equity securities in which the owner is established on the basis of the presentation of a duly executed certificate of the security or, if such is deposited, on the basis of an entry on the securities account.

Non-documentary form of equity securities - a form of equity securities, in which the owner is established on the basis of an entry in the system for maintaining the register of owners of securities or, in the case of depositing securities, on the basis of an entry in the custody account.

A certificate of an equity security is a document issued by an issuer and certifying the totality of rights to the number of securities specified in the certificate. The owner of the securities has the right to demand that the issuer fulfill his obligations on the basis of such a certificate.

Placement of equity securities - alienation of equity securities by the issuer to the first owners through the conclusion of civil transactions.

Issue of securities - the sequence of actions of the issuer for the placement of equity securities established by this Federal Law.

Professional participants in the securities market are legal entities that carry out the types of activities specified in Chapter 2 of this Federal Law.

Financial Consultant on the securities market - a legal entity licensed to carry out brokerage and / or dealer activities on the securities market, which renders services to the issuer in the preparation of a securities prospectus.

A bona fide acquirer is a person who purchased securities, paid for them and at the time of acquisition did not know and could not know about the rights of third parties to these securities, unless proven otherwise.

State registration number - a digital (alphabetic, symbolic) code that identifies a specific issue of equity securities subject to state registration.

Public placement of securities - placement of securities by open subscription, including placement of securities in organized trading. It is not a public offering of securities intended for qualified investors in organized trading.

Listing of securities - the inclusion of securities by the organizer of trading in the list of securities admitted to organized trading, including the inclusion of securities by the exchange in the quotation list.

Delisting of securities - the exclusion of securities by the trade organizer from the list of securities admitted to organized trading, including the exclusion of securities by the exchange from the quotation list.

An identification number- a digital (alphabetic, sign) code that identifies a specific issue ( additional issue) equity securities that are not subject to state registration.

A Russian depositary receipt is a registered equity security that has no par value, which certifies the ownership of a certain number of shares or bonds of a foreign issuer (securities represented) and secures the right of its owner to demand from the issuer of Russian depositary receipts to receive, in exchange for the Russian depositary receipt, the corresponding number of presented securities securities and the provision of services related to the exercise by the owner of the Russian depositary receipt of the rights enshrined in the represented securities. If the issuer of the presented securities assumes obligations to the owners of Russian depositary receipts, the said security also certifies the right of its owner to demand the proper performance of these obligations.

1) the obligation of the parties or the parties to the agreement to periodically or at a time to pay the sums of money, including in the case of claims by the other party, depending on the change in prices for goods, securities, the exchange rate of the corresponding currency, the value interest rates, inflation rate, values calculated on the basis of prices of derivative financial instruments, values of indicators constituting official statistical information, values of physical, biological and (or) chemical indicators of state environment, from the onset of a circumstance indicating non-fulfillment or improper fulfillment by one or more legal entities, states or municipalities of their obligations (with the exception of a surety agreement and an insurance agreement), or any other circumstance that is provided for by federal law or regulatory legal acts of the federal executive body for the securities market and regarding which it is not known whether it will come or not, as well as from changes in values calculated on the basis of one or a combination of several indicators specified in this paragraph. At the same time, such an agreement may also provide for the obligation of the parties or the parties to the agreement to transfer securities, goods or currency to the other party, or the obligation to enter into an agreement that is a derivative financial instrument;

The State Duma

Federation Council

Judicial practice and legislation - 39-FZ On investment activities in the Russian Federation carried out in the form of capital investments

The main legal documents regulating the relations of the subjects investment activities, are the Civil Code of the Russian Federation, Federal Law of February 25, 1999 N 39-FZ "On investment activities in the Russian Federation carried out in the form capital investments", Law of the RSFSR dated 26.06.1991 N 1488-1" On investment activities in the RSFSR. "In this case, the relationship between the investor (customer) and the contractor (contractor) is governed by the provisions of the construction contract concluded for the construction or reconstruction of an enterprise, building (in including a residential building), a structure or other object, as well as for the performance of installation, commissioning and other work inextricably linked with the object under construction. overhaul buildings and structures, unless otherwise provided by the contract.

publishes on its official website in the information and telecommunication network "Internet" information about the fact of the issue of securities, carried out in violation of the requirements of the legislation of the Russian Federation on securities, and on the grounds for suspending the placement of securities issued as a result of such an issue;

notifies in writing of the need to eliminate violations, and also sets the deadlines for eliminating violations;

Clause 5 - Abolished.

8. Professional participants in the securities market and issuers of securities have the right to appeal to an arbitration court against the actions of the federal executive body for the securities market to suppress violations of the legislation of the Russian Federation on securities and to apply liability measures in the manner prescribed by the legislation of the Russian Federation.

5) foreign organizations whose securities have passed the listing procedure on a foreign exchange included in the list approved by the federal executive body for the securities market in accordance with paragraph 4 of this article.

5. Securities of international financial organizations are allowed for public placement and (or) public circulation in the Russian Federation, if the terms of their issue do not contain restrictions on the circulation of such securities among an unlimited number of persons and (or) the offer of such securities to an unlimited number of persons.

9. In case public offering and (or) public circulation of securities of foreign issuers in the Russian Federation, registration of rights to such securities is carried out by depositories that are legal entities in accordance with the legislation of the Russian Federation and complying with the requirements of regulatory legal acts of the federal executive body for the securities market to such depositories.

16. Persons who sign a securities prospectus of a foreign issuer on behalf of a foreign issuer are determined in accordance with the personal law of the foreign issuer, and if such an issuer is an international financial organization, in accordance with the constituent documents of this international financial organization.

17. A prospectus of securities of a foreign issuer must be signed by a foreign issuer if such a prospectus is submitted for the admission of securities of a foreign issuer:

1) for placement in the Russian Federation, including the public one;

2) to public circulation in the Russian Federation if the said securities are not circulating in a foreign organized (regulated) financial market.

21. The Russian stock exchange, which has admitted securities of foreign issuers to organized trading, is obliged, in the manner and terms established by regulatory legal acts of the federal executive body for the securities market, to disclose information on such securities, including their issuers, in foreign language with its subsequent translation into Russian. Subsequent translation of this information into Russian is not required if it is disclosed in a foreign language used in the financial market.

24. The provisions of this Federal Law shall not apply to relations connected with the placement in the Russian Federation of securities of foreign issuers.

25. Bills of exchange, checks, bills of lading and other similar securities issued in accordance with foreign law may circulate in the Russian Federation without observing the conditions provided for in paragraph 1 of this article.

27. Securities of foreign issuers certifying the rights in relation to the securities represented Russian issuer or a foreign issuer admitted to organized trading on the Russian stock exchange may be admitted to organized trading without concluding an agreement with the issuer of the relevant securities, as well as without submitting a prospectus for such securities.

2. Qualified investors include:

1) professional participants in the securities market;

1.1) clearing organizations;

2) credit organizations;

7) Bank of Russia;

8) state corporation "Development Bank and foreign economic activity(Vnesheconombank) ";

9) Deposit Insurance Agency;

10) international financial institutions, including the World Bank, International Monetary Fund, European central bank, European investment bank, European bank reconstruction and development;

1) the total value of securities owned by this person and (or) the total amount of obligations from contracts that are derivative financial instruments and concluded at the expense of this person comply with the requirements established by regulatory legal acts of the federal executive body for the securities market. In this case, the specified body determines the requirements for securities and other financial instruments, which can be taken into account when calculating the specified total cost (total amount of obligations), as well as the procedure for its (his) calculation;

3) made transactions with securities and (or) entered into agreements that are derivative financial instruments, in the quantity, volume and time, which are established by regulatory legal acts of the federal executive body for the securities market.

3) has a turnover (proceeds) from the sale of goods (works, services) in the amount and for the period established by regulatory legal acts of the federal executive body for the securities market;

4) has the amount of assets according to the data accounting for the last reporting year in the amount established by the regulatory legal acts of the federal executive body for the securities market.

Clause 6. - Abolished.

7. Recognition of a person, upon his application, as a qualified investor is carried out by brokers, managers, and other persons in cases stipulated by federal laws (hereinafter referred to as the person who recognizes as a qualified investor), in accordance with the procedure established by the federal executive body for the securities market.

8. If a person is recognized as a qualified investor on the basis of false information provided by him, the consequences provided for in Article 3 and part eight of this Federal Law shall not apply. Recognition of a person as a qualified investor on the basis of inaccurate information provided by him is not a ground for the invalidity of transactions made at the expense of this person.

1. A repo agreement is an agreement under which one party (the seller under the repo agreement) undertakes to transfer the securities to the other party (the buyer under the repo agreement) within the time period established by this agreement, and the buyer under the repo agreement undertakes to accept the securities and pay for them a certain amount of money (the first part of the repo agreement) and according to which the buyer under the repo agreement undertakes, within the time period established by this agreement, to transfer the securities into the ownership of the seller under the repo agreement, and the seller under the repo agreement undertakes to accept the securities and pay a certain amount of money (the second part of the repo agreement).

9. Unless otherwise provided by this article, a buyer under a repo agreement is obliged to transfer to a seller under a repo agreement under the second part of the repo agreement securities of the same issuer (the person who issued the securities), certifying the same scope of rights, in the same amount as securities transferred to the buyer under the repo agreement under the first part of the repo agreement.

10. If the securities transferred under the first part of the repo agreement have been converted, in fulfillment of the second part of the repo agreement, the buyer under the repo agreement transfers to the seller under the repo agreement the securities into which the securities transferred under the first part of the repo agreement were converted ... This rule also applies to securities received by a buyer under a repo agreement in accordance with clauses 11 and 12 of this article.

1) the conditions and procedure for the payment of funds and (or) the transfer of securities in accordance with paragraph 14 of this article. In this case, the amount of money to be paid and (or) the number of securities to be transferred can be determined separately for each repo agreement, for a group of repo agreements and (or) for all repo agreements concluded between the parties on the terms specified in such a general agreement (a single agreement ) or such rules;

2) the grounds and procedure for the termination of obligations under one repo agreement, for a group of repo agreements and (or) for all repo agreements concluded between the parties on the terms specified by such a general agreement (single agreement) or such rules, including at the request of one of the of the parties in case of non-performance or improper performance by the other party of obligations under the repo agreement. In this case, the termination of obligations is allowed in the presence of one of the conditions provided for by subparagraphs 1 - 3 of paragraph 16 of this article.

21. The repo agreement is applied accordingly general provisions Of the Civil Code of the Russian Federation on Sale and Purchase, if this does not contradict the rules of this article and the essence of the repo agreement. In this case, the seller under the repo agreement and the buyer under the repo agreement are recognized as sellers of securities, which they must transfer in fulfillment of obligations under the first and second parts of the repo agreement, and buyers of securities, which they must accept and pay in fulfillment of obligations under the first and second parts. repo agreements.

2. In the event that the parties intend to conclude more than one agreement, which is a derivative financial instrument, the procedure for concluding such agreements, as well as their individual terms, may be agreed by the parties by concluding a general agreement (single agreement) between them and (or) determined by the specifications and ( or) rules of exchanges and (or) rules of clearing. The provisions of the general agreement shall apply to the relations of the parties in connection with the conclusion and performance (termination) of an agreement, which is a derivative financial instrument, if it is provided for by the said agreement.

3. An agreement that is a derivative financial instrument, as well as a general agreement (single agreement), specification and (or) exchange rules and (or) clearing rules may provide that certain conditions of such an agreement (general agreement, specification or exchange rules, rules clearing) are determined by the model conditions developed for the specified agreement by self-regulatory organizations in the securities market and published in print or posted on the information and telecommunications network "Internet".

4. The general agreement (single agreement), the specification and (or) the exchange rules and (or) the clearing rules may provide for the grounds and procedure for the termination of obligations under all contracts that are derivative financial instruments concluded between the parties on the terms established by the specified general agreement ( a single agreement), specification or rules, including at the request of one of the parties in the event of default or improper performance by the other party of obligations under a contract that is a derivative financial instrument. In this case, the procedure for determining the amount of monetary funds (the amount of other property) to be transferred by the party (parties) in connection with the termination of obligations under contracts that are derivative financial instruments, as well as the period of such transfer, should be established.

The conclusion of the contracts specified in the first paragraph of this clause not at the exchange auctions is allowed, provided that the payment sums of money depending on the occurrence of a circumstance indicating non-fulfillment or improper fulfillment by one or more legal entities, states or municipalities of their obligations, it is carried out at the expense of credit institution, broker, dealer, and the party entitled to receive such sums of money, or the person on whose account it acts, is a legal entity.

7. The conclusion of contracts, which are derivative financial instruments, intended for qualified investors, can be carried out only through brokers. This rule does not apply to qualified investors by virtue of federal law, as well as to cases established by the federal executive body for the securities market.

1. If the parties intend to conclude more than one repo agreement, and (or) an agreement that is a derivative financial instrument, and (or) an agreement of another type, the object of which is securities and (or) foreign currency, such agreements can be concluded on the terms determined by the general agreement (single agreement). In this case, the terms of these agreements, as well as the general agreement (single agreement) may provide that their individual terms are determined by the model terms of the agreements approved by self-regulatory organization professional participants in the securities market and published in print or posted on the Internet.

1. This Federal Law shall enter into force on the day of its official publication.

2. Propose to the President of the Russian Federation and instruct the Government of the Russian Federation to bring their normative legal acts in line with this Federal Law.

The president
Russian Federation
B. YELTSIN

Moscow Kremlin

It regulates relations arising in connection with the issue and circulation of financial instruments, regardless of the type of issuer, the rules for the creation and operation of professional participants in trading floors. Let us consider further some provisions of the normative act.

General information

Exists different kinds activities in the market It is carried out, as a rule, by professional participants. Currently, organizations providing various services to investors are quite common. The key task of the participants of the trading floors is the preservation and growth of capital. The main rules are established by the regulatory act in question, as well as by the Central Bank of Russia. It acts as a regulator and key oversight body.

Dealer activity

It is associated with the execution of transactions for the purchase or sale of financial instruments. These operations, in accordance with, are carried out at their own expense and on their own behalf through a public announcement of the value with an obligation to purchase / sell. Strictly defined subjects can act as professional participants. The purchase / acquisition of bonds and other financial instruments is carried out by legal entities that are commercial structures, as well as public corporations, if the corresponding powers are provided for by the regulations governing their work.

Setting conditions

Dealer activity includes the definition of:

The maximum / minimum number of financial instruments for sale / purchase.
The period for which the cost is established.

If there is no indication of other essential conditions in the ad, professional participant must close the deal at the suggestion of the client. In case of evading this, in accordance with 39-FZ "On the Securities Market", a claim may be brought against him for compulsory execution of the established requirement or for compensation for losses incurred by the investor.

Administration

Securities management involves transactions with financial instruments, in cash used to complete transactions, as well as the conclusion of contracts. For its implementation on general rule license required. The exception is cases when management is associated only with financial instruments. The procedure for performing transactions is governed by the considered regulation and a contract. When conducting business, the professional participant must indicate that he is acting as a manager.

Rights and responsibilities

If a conflict of interests between a professional participant and one / several clients, about which the parties were not aware in advance, led to transactions that caused damage to the latter, the manager is obliged to compensate for the losses at his own expense. The considered normative act establishes the rights of subjects. In particular, a professional participant, in accordance with 39-FZ "On the Securities Market", can acquire financial instruments that are intended for qualified investors, as well as conclude appropriate agreements. In case of violation of the established instructions, certain Negative consequences for the subject. Among them:

Imposition of the obligation to sell financial instruments and terminate their derivative contracts. The corresponding request can be made by the Central Bank of Russia or directly by the client himself.
Reimbursement of losses incurred as a result of the sale of financial instruments and the termination of contracts.
Payment of interest on the amount of completed transactions / signed agreements. Their size is established by If there is a positive difference between the amount received during the sale of securities / termination of contracts and the funds paid in connection with the purchase / sale of financial instruments, interest is paid in the amount not covered by it.

A statement of claim on the application of the appropriate consequences of a professional participant in transactions in violation of the requirements of 39-FZ "On the Securities Market" may be filed within a year from the date of receipt of the corresponding report by the client.

Additional features

The manager can independently submit to the court any claims related to the implementation of his activities, including the right to refer which is provided to shareholders and other owners of securities. In this case, he will incur the corresponding costs, including the state duty. They are compensated from property acting as an object of trust. A professional participant also has the right to instruct another entity to complete transactions. They are carried out on behalf of the manager or trustee. Transactions are made at the expense of the property that is the object of the contract. The manager has the right to count on remuneration. The condition for its payment is established in the contract. In addition, he has the right to compensation for the costs incurred by him in trust, at the expense of the relevant property. This right may not be subject to the receipt of income from transactions.

Responsibilities

The manager must keep records of securities that act as objects of his activities, as well as for each contract. At its discretion, a professional participant exercises all the rights established by financial instruments. In the contract for trust management restrictions may apply. For example, to exercise the right to vote. If it is not limited, the manager performs the duties related to the possession of securities. In the absence of the authority to vote on general meeting of owners of financial instruments and investment shares, a professional participant must provide information about the founder of the agreement in order to compile a list of entities that have such an opportunity. The commented normative act also establishes other obligations. In particular, at the request of the founder, the manager shall instruct the depositary to exercise the first voting rights.

Transfer agent

He is attracted by the registrar maintaining the register of owners of financial instruments for the implementation of part of the functions. The entity performs operations on the basis of the relevant agreement and power of attorney. In the process of carrying out activities, transfer agents must indicate that they are working on behalf of and on behalf of the registrar, submit Required documents interested parties.

Rights

They are prescribed in the contract and power of attorney. The attracted subjects have the right:

Accept the documentation required to perform operations in the registry.
Provide registered and other persons with l / s statements, notifications and other information provided by the registrar.

Responsibilities

The subjects involved must:

Take appropriate measures to identify persons who submit documents to perform the necessary transactions in the registry.
Provide the registrar with access to accounting materials at his request.
Maintain the confidentiality of information obtained during the implementation of the relevant operations.
Verify the credentials of representatives of registered persons.
Verify the signatures of individuals according to the rules established by the Central Bank.
Comply with other requirements determined by the Central Bank.

The calculation of the term for performing operations in the register or for refusing to carry out them begins from the date of acceptance of the involved participant of the relevant documentation and powers. The transfer agent and the registrar must exchange information and materials electronically when interacting.

Rules for providing information

At the request of the entity liable for financial instruments (issuer), the nominal holder of securities or the person who carries out their mandatory centralized storage must provide a list of owners. It is formed on the date specified in the request. The issuer may declare the specified requirement if the provision of this list is necessary for him to fulfill the obligations specified in federal legislation. This list is sent within fifteen days from the date of receipt of the request. If the date specified in the request is later than the calendar date of its receipt, then the period is calculated from the day specified in the notification.

The list of owners should include:

Kind, type (category) of financial instruments and information allowing their identification.
Information about the issuer.
Information about the owners of securities, including foreign company, which is not a legal entity under the laws of the country in which it was formed, as well as other entities exercising rights on financial instruments, and persons in whose interests they are exercised. The latter may not be included in the list. This is allowed subject to certain conditions. In particular, the person who exercises the rights to financial instruments is management company investment or foreign organization participating in collective / joint investment schemes both without and with the formation of a legal entity, if the number of participants is more than 50.
Information about persons whose rights to financial instruments are accounted for under the issuer's treasury account, deposit and other accounts defined in other Federal Laws, if these entities do not exercise the existing legal possibilities.
Information allowing to identify the persons specified in the previous two paragraphs. The list includes the number of securities owned by them.
International identification code of the entity that records the rights to financial instruments of organizations and persons specified in clauses 3-4, including a foreign nominee holder and foreign company, which has the right to transfer and record the rights.
Data about persons, not for the formation of the list, as well as the number of securities for which information was not received.
Information on the number of financial instruments recorded in the accounts of unidentified entities.

Conclusion

The registrar may require registered entities, and the depositary, from depositors, if they act as nominal owners (including foreign ones), to provide information to form lists for a specific date upon receipt of the above request. The person who has an account is obliged to provide the necessary information to draw up the list. An entity exercising the rights to financial instruments in the interests of other participants, at the request of the registrar or the depositary performing accounting, must send the requested data to form a list of owners.