The Bank of Russia has established facts of multiple manipulations at the exchange in the markets for fourteen issuers’ shares (hereinafter, the Shares) during the period from 13 November 2014 to 23 March 2015 (hereinafter, the Period) by employees of CJSC Leader (TIN 5018026672) Andrey Siluyanov and Anton Chvirov, responsible for the management of assets of CJSC Leader’s clients and that of the assets of a client of LLC Management Company Severyanka (TIN 7713502214) (hereinafter, collectively the Management Companies).
The investigation has established that Andrey Siluyanov and Anton Chvirov, abusing their positions, conducted transactions with the Shares using the funds of the Management Companies’ clients in trust and their own funds in Andrey Siluyanov’s brokerage account.
In these transactions, they employed the following scheme: using the funds of the Management Companies’ clients transferred in trust, Andrey Siluyanov and Anton Chvirov conducted transactions to purchase or sell the Shares, inducing either a rise or a drop in their price. The market conditions resulting from such actions were used to close the position earlier opened on the Shares in Andrey Siluyanov’s brokerage account with a profit from transactions with the Management Companies. This trading behaviour entailed significant deviations in the trading volumes of the Shares.
Pursuant to Clause 2, Part 1, Article 5 of Federal Law No. 224-FZ, dated 27 July 2010, ‘On Countering the Misuse of Insider Information and Market Manipulation and Amending Certain Laws of the Russian Federation’, the transactions with the Shares carried out during the Period in the Management Companies’ and Andrey Siluyanov’s brokerage accounts, which caused significant deviations in trading volumes, are classified as manipulation in the market for the Shares. The above actions generated a positive financial result in Andrey Siluyanov’s brokerage account.
The Bank of Russia took administrative measures against the persons involved in market manipulation in order to prevent similar violations in the future.
The materials of the investigation have been submitted to law enforcement authorities.
