On identifying the facts of manipulation
The Bank of Russia has determined the fact of repeated and continuous abuse of the share market of the closed unit investment fund (CUIF) rent Agrocapital at MICEX Stock Exchange trading in
The audit established that the share market of the CUIF rent Agrocapital was almost completely set up artificially. The unit price at MICEX Stock Exchange trading as well as other trading parameters (volume, demand, and offer) were established by the non-market methods and intentionally maintained by the parties involved and connected with interrelated legal entities and private individuals. Those individuals executed an overwhelming volume of unit transactions at the exchange, all of them being the clients of one and the same professional member of the securities market.
Non-standard transactions with the units of CUIF rent Agrocapital were consummated by the individuals connected with the fund manager — FM Eurotrust LLC, professional members of the securities market and some other private individuals and legal entities.
Activities to abuse the share market of CUIF rent Agrocapital were aimed at misleading a wide range of investors as well as the financial market regulator in terms of the unit price and liquidity.
Market manipulation is a drastic violation of Russian legislation and an act of professional misconduct of financial market members. The Bank of Russia took a decision to cancel the qualification certificates of financial market specialists issued to the officials of the companies—professional members of the financial market who took part in the said abuse, namely Ivanov A.A., Kuprina Ye.G., Shakhurin V.V. and Davydov A.V.
The individuals who took part in the manipulation will be held administratively liable.
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23.06.2014 00.00.00