PRESIDENTIAL DECREE OF THE RUSSIAN FEDERATION

of April 26, 1995 No. 416

About measures for ensuring interests of investors and reduction in compliance with the legislation of the Russian Federation of the business activity of legal entities performed in the financial and share markets without the corresponding licenses

For the purpose of protection of interests of investors in the financial and share markets of the Russian Federation and providing the legal base of regulation of business activity on attraction of financial resources of private investors I decide:

1. Consider priority of federal bodies of the government and public authorities of subjects of the Russian Federation in the field of state regulation of the financial and share markets of the Russian Federation ensuring interests of investors, including way:

establishments of legal and economic basis of activities of the investment institutes, including mutual investment funds raising funds from investors;

non-admissions of illegal restrictions of activities of the investment institutes interfering execution by them of obligations to investors;

forming of the market infrastructure providing normal operating conditions of investment institutes;

creations of organizational and material conditions for compensation of losses of investors from unfair entrepreneurship on financial and the stock markets;

suppression of illegal activities of legal entities for attraction without the corresponding licenses of money of physical persons and legal entities for storage, investment, trust management or other transactions;

ensuring timely search and arrest on decisions of the courts of property of the legal entities acting (acting) in the financial and/or share markets to which claims in connection with non-execution of their obligations to investors are made;

attraction in accordance with the established procedure to administrative and criminal liability of persons, the created (creating) legal entities acting (operating) on financial and/or share markets on attraction of financial resources of investors without purpose execution of the announced obligations.

2. The federal commission on securities and the stock market under the Government of the Russian Federation to develop and provide drafts of presidential decrees of the Russian Federation about mutual investment funds and about investment brokers in a month.

3. Recommend to the Supreme Court of the Russian Federation, to the acting as the Prosecutor General of the Russian Federation, the Ministry of Justice of the Russian Federation, the Ministry of Internal Affairs of the Russian Federation, Federal Security Service of the Russian Federation in 10-day time to make changes to the Instruction N 34/15 of October 18, 1989. "About procedure for withdrawal, accounting, storage and transfer of physical evidences on criminal cases, values and other property by bodies of pretrial investigation, inquiry and courts", having provided possibility of return withdrawn from finance companies and credit institutions of money to citizens - to owners of these means before the expiration of terms of investigation or the introduction of sentence in legal force if it is possible without prejudice to proceeedings.

4. Recommend to the Central bank of the Russian Federation to establish charge of percent on discount rate of the Central bank of the Russian Federation on the means confiscated judicially, the means obtained from realization of condemned property and the means withdrawn by the investigation and enlisted into the balance sheet account "Deposits of Law Enforcement Agencies" and also arrested on decisions of the courts.

5. To the government of the Russian Federation in a month: consider question of the state support of forming and activities of non-state Regional Aid Funds by the victim who was injured from crimes in the field of economy for the purpose of providing conditions for compensation from crimes of the lost money (part of money);

introduce in the State Duma of Federal Assembly the bill providing possibility of production by courts in claims of bodies of prosecutor's office of the Russian Federation, the Central bank of the Russian Federation, the State Tax Administration of the Russian Federation, Department of tax police of the Russian Federation and the Federal commission on securities and the stock market under the Government of the Russian Federation of provisional attachment of accounts and property of the legal entities performing business activity in the financial and/or share markets of the Russian Federation without the corresponding licenses for the purpose of ensuring interests of investors.

6. To executive bodies of subjects of the Russian Federation, the Central bank of the Russian Federation, the Ministry of Finance of the Russian Federation, the State Tax Administration of the Russian Federation, Department of tax police of the Russian Federation together with the Federal commission on securities and the stock market under the Government of the Russian Federation in 3-month time to take measures for reduction in compliance with the legislation of the Russian Federation of the business activity of legal entities performed in the financial and share markets of the Russian Federation without the corresponding licenses, including by rendering the methodical and organizational help with their transformation to the relevant investment institutes, and after this term - on suppression of illegal activities of the specified legal entities.

7. This Decree becomes effective from the date of its publication.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info