MOSCOW, November 1 (RIA Novosti) - Russian President Dmitry Medvedev has signed amendments to the criminal law stipulating criminal liability for offences damaging investors' rights on the securities market, the Kremlin press office said on Sunday.
The law was adopted by the State Duma, the lower house of the country's parliament, on October 14 and approved by the Federation Council, the upper house of parliament, on October 21.
Prior to the amendments, Russia's criminal law stipulated liability only for abuses in the process of securities issuance and malicious evasion of information disclosure on the issuer, the issuer's financial performance, securities and transactions to the supervisory authority and investors, and also for the disclosure of false information.
The practice of law-enforcement has showed, however, that these measures are not enough to prevent offences on the financial market.
The amendments are aimed at improving investor protection mechanisms, strengthening law and order on the financial market, increasing its attractiveness and stimulating the growth of investment in domestic enterprises, the Kremlin press office said.
