On 2 August, 2014 came into effect Federal Law No. 218-FZ 'On Amending Certain Legislative Acts of the Russian Federation'. It simplifies the procedure for admission of foreign securities to the Russian financial markets. Among the main legislative changes that are expected to affect international trade are:
- Brokers and fund managers are authorised to buy securities sold by foreign issuers for clients that are not qualified investors. This is possible if the broker or the fund manager is a member of a self-regulating organisation that has registered with the Central Bank of Russia its procedures for notifying clients about investment risks involving foreign securities.
- Securities of foreign issuers may be offered for public trading if they get an approval by the relevant exchange or trading system authority but without signing an agreement with the issuer.
- Relaxation of the rules as of 1 July 2014 for obtaining of qualified investor status for physical persons.
- Effective 1 August 2014, a nominee may vote at a shareholders' meeting on behalf and in line with the received in a form of a contract instructions from the shareholders that are her/his clients but without obtaining a power-of-attorney from them.