Additional information to be disclosed by issuers to investors: Bank of Russia’s recommendations
The Bank of Russia has prepared an additional list of important events in issuers’ operations that might cause a significant impact on securities value or prices. Issuers should publish relevant data along with information currently disclosed in the securities market.
These events might include, among other things, commissioning of new production capacities, losses incurred under major contracts, changes in relations with counterparties, and the impact of environmental, social and governance (ESG) factors. This list is not exhaustive, and every issuer should form its own list considering the type and scale of its activity. The Bank of Russia recommends approaches and principles to be relied upon by issuers when assessing the significance of particular events and be included in companies’ information policies or a separate document.
Material facts should be disclosed by the issuers whose securities are publicly traded and by public joint-stock companies. They shall communicate information on actual or expected events in their business and financial performance or companies’ corporate governance.
These recommendations are intended to enhance information transparency in the securities market and the quality of disclosures, yet without providing excessive data to market participants.