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    PUTIN INKS LAW TO PROTECT RIGHTS OF CLIENTS OF PROFESSIONAL SECURITIES MARKET PARTICIPANTS

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    MOSCOW, March 7, 2004. (RIA Novosti) -- Russian President Vladimir Putin has signed the federal law On the Introduction of Amendments to the Federal Law On the Executive Process, which the State Duma (the lower chamber of parliament) adopted on February 11th, 2004 and the Federation Council (the upper parliamentary chamber) approved on February 25th, said the Kremlin press service.

    This federal law targets the protection of rights of clients of the professional participants in the securities market. It bans garnishment of separate bank accounts opened by professional market participants in a lending organisation.

    In the opinion of authors of the law, its adoption will increase the investors' (including foreign) trust in the Russian securities market.

    This federal law also regulates the garnishing process in a bid to prevent the avoidance of debt payment by clients of professional participants in the securities market.

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