Until recently, investors were not generally restricted in selling their (participatory) equity interests in Russian limited liability companies (LLCs). However, Russian President Vladimir Putin issued Decree No. 618,...more
Russian President Vladimir Putin issued a decree imposing an overall ban on transactions with certain assets, such as securities in certain Russian companies and interests in certain Russian investment projects, if these...more
The State Duma, Russia’s parliament lower chamber, adopted draft law No. 116264-8 on June 29, 2022, containing rules allowing the conversion of depository receipts into the underlying Russian shares without a need to go...more
Following previously adopted restrictions on payments of dividends in joint stock companies, Decree No. 254 requires that any dividend payment from a limited liability company to its foreign participant connected with an...more
The delisting of Russian issuers’ depositary receipts could potentially lead to a disproportional increase in sales of underlying shares in the Russian stock market and contribute to its volatility. In response to this...more
A new federal law in Russia prohibits Russian issuers from having their shares traded outside Russia via depositary receipts and requires issuers with existing programs to take delisting measures unless they receive a...more
Russia proposed a draft federal law on April 8 amending article 235 of the Russian Civil Code, which would allow the compulsory seizure of assets in cases stipulated by federal laws, and containing rules about such compulsory...more
Russia is considering introducing legislation that, if adopted, will have a dramatic impact on foreign-owned businesses and their strategies concerning Russia. The goal of the proposed law is to (1) warn foreign owners that...more
On April 21, the Russian State Duma (lower house of the Russian parliament) approved amendments to the Russian Law on Information, Information Technologies and Protection of Information regarding audiovisual services....more
Russia is considering new restrictions on foreign ownership and control of online video services, similar to the rules recently imposed on “mass media” such as television, radio, and publications....more
In This Issue:
- Russian Civil Law Reform: Recent and Upcoming Amendments
- Anti-Corruption Laws: New Compliance Requirements for Russian Companies
..Disclosure of Beneficial Ownership
- Amendments...more