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Minfin Backs Limit on Disclosure for Minority Shareholders

23.10.2015 12:00 / TASS

The Ministry of Finance supports the idea to curb minority shareholders’ right to request additional information from issuers, Deputy Finance Minister Alexey Moiseev told the press today.

“I don’t have the details of this proposal, but I support the idea”, he said.

On October 22, Central Bank’s First Deputy Chairman Sergey Shvetsov announced a proposal to revoke minority shareholders’ right to request additional info from issuers. In his opinion, by taking on an audit function, the minority shareholder distrusts the Board of Directors, internal and external audit and the management.

Shevtsov later announced that the Bank of Russia would shortly release a document for public debate.

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