About us / Project Groups

Project Group №2 →

Corporate law and governance, financial transaction taxes

Project Group №1

Financial infrastructure and financial market regulation


Back to Media

NAUFOR Submits New IPO Prospectus Standard to FMS

04.10.2013 11:37 / Interfax

National Association of Stock Market Participants (NAUFOR) has submitted the draft of a new IPO Prospectus standard for issuers, says the Association press release.

The document has been drafted by a workgroup with input from NAUFOR and Moscow Exchange committees.

The press release states that the new prospectus standard is geared compliance with international standards used in the EU and the USA. The document introduces a two-part split (issuer info and share issue info), with each part eligible for separate registration, the approach to compiling the prospectus is no longer formal, the issuer is free to decide which information is more important and worthy of inclusion in the prospectus.

The new prospectus standard is designed to simplify share issue in the Russian financial market and harmonizing the procedure with developed financial market standards.

In late 2012, the Securities Market Act was amended to increase the compliance of share issue in the Russian securities market with Western standards. In 1H 2013, FFMS (the FMS predecessor) adopted a regulation on share issue and prospectus registration standards (registered by the Ministry of Justice on 30 August 2013).

NAUFOR is currently planning to draft a reformed version of quarterly financial report requirements for issuers.

Project Group №1