Facts of market manipulation in on-exchange trading for Pioneer Leasing Ltd bonds established
The Bank of Russia established facts of market manipulation in on-exchange trading for the bonds of Pioneer Leasing Limited (ISIN: RU000A102LF6) (hereinafter, the Bonds) over the period from 16 August 2021 to 24 August 2021.
Valentin V. Shavrin and Olesya S. Shavrina who were then relatives and clients of the same professional securities market participant conducted transactions to transfer the Bonds from V. V. Shavrin’s account to O. S. Shavrina’s account.
These transactions were carried out in collusion in the main trading mode, each time causing significant deviations in trading volumes.
According to the findings of the investigation, these transactions are classified as market manipulation pursuant to Clause 2 of Part 1 of Article 5 of Federal Law No.
Thus, V. V. Shavrin and O. S. Shavrina violated the prohibition stipulated by Part 2 of Article 6 of Federal Law No.
The Bank of Russia has sent binding orders to cease and desist from similar violations in the future to V. V. Shavrin and O. S. Shavrina. Furthermore, these persons are subject to administrative proceedings.
The Bank of Russia urges professional securities market participants to timely provide information to their clients regarding the possibility to transfer the title to assets in a way that does not violate the requirements and prohibitions of Federal Law No.
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