New Requirements to Securities Listing Take Effect

Aiming at improving the attractiveness of investing in Russia, the new Central Bank requirements to admitting securities to trading on Russian stock exchanges came into force                          

These relate to the corporate governance of equity and bond issuers, mortgage participation certificates and bond ratings, and include the following:

• changes to the criteria for selection of independent directors and to the number of independent directors in committees, the functions of committees and corporate secretaries, the requirements to internal audit of issuers that have shares listed in Level 1 and Level 2 and bonds in Level 1
• increased requirements to the ratings of Level 1 bonds, with transitional period until 31 December 2018
• increased requirements to the ratings of Level 1 mortgage participation certificates, additional requirements on the existence of positive expert conclusion from the examination of property value

Ksenia Liskina
Relationship Manager
GSS Russia
ksenia.liskina@unicredit.ru