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.

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