The Moscow Stock Exchange has recommended that issuers resident in the Russian Federation not use this government’s right to hide financial information. Refusal to post reports can have negative consequences, the site believes.
The Moscow Stock Exchange has posted recommendations on information disclosure on its website.
The Stock Exchange recommends that trading companies publish quarterly (according to RAS) and semi-annual (according to IFRS) financial statements. Refusal to publish reports can have negative consequences as investors will not have the information necessary to make informed investment decisions.
In addition, the list of the Moscow Stock Exchange contains recommendations on the disclosure of information on the reorganization of the issuing company, the payment of bonds and their early redemption, as well as information that could affect the value of the securities.
The Bank of Russia allowed banks not to publish financial statements according to Russian standards, and commercial companies were partially allowed not to disclose information, the publication of which could lead to the imposition of sanctions against the company itself or its management after the start of a special operation in Ukraine.
Author:
Kirill Bilyk
Source: RB
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