CBR does not see return to full disclosure of corporate information in next few years

MOSCOW. Oct 1 (Interfax) - The situation with disclosure of corporate information in Russia is unlikely to return to standard pre-sanctions practices in the next few years, the first deputy governor of the Central Bank of Russia (CBR), Vladimir Chistyukhin said.

"It's obvious, in my opinion and many experts share this view, that full-fledged disclosure of information will not be restored in the next few years. Indeed, the sanctions risk affects all the fullness of what corporates are prepared to disclose, sometimes objectively, sometimes subjectively. Even though they need investments and investors," Chistyukhin said at public hearings on the draft guidelines for the development of the financial market in 2026-2028 at the Forum Analytics Center.

"This means that everyone needs to help one another and try to rely on some other additional factors that, if not ideally but at least to some degree, will make it possible to get information," Chistyukhin said.

He said one of the consequences of the closure of information has been an increase in the number of cases of insider trading and market manipulation.

"A favourable foundation for such actions is created in any non-transparent environment, of course. What was an additional disappointment for me is that sometimes this is conscious and sometimes, strangely enough, I'm inclined to believe it's unconscious. People just figured it would be faster, easier to do something this way. By and large not violating anyone's rights, but creating bad precedents for practices," Chistyukhin said.