The Central Bank accuses former managers of Sistema’s insider trading

The Central Bank accuses former managers of Sistema’s insider trading


Moscow. March 16. CBR has convicted three former managers of JSFC “Sistema” in the misuse of insider information in carrying out their interest in July 2014 transactions with ordinary shares of the company. We are talking about Alexander Goncharuk, Alex Buyaniv and Hope Fore. Now, according to a company representative, “none of these is in the release of persons not an employee of AFC “System”.

The operation was carried out a few hours before the official disclosure of the company’s insider information, which caused decrease in quotations of the shares on the stock exchange more than 7%, said the Central Bank.

“Received the audit information indicates that the above persons had obtained access to insider information of the company. Circumstances order for the transactions and the nature of the trading behavior demonstrate the implementation in their interests transactions with shares of JSC AFK “System” misuse of insider information obtained”, – said the Central Bank.

“These transactions have enabled these individuals to avoid losses, the aggregate amount of which amounted to tens of millions of rubles”, – notes the regulator. Materials of check are transferred to law enforcement agencies.

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