With mounting geopolitical tensions, multinationals face a very real and immediate risk of being deprived of profits, control or even ownership of some wholly or partially owned local businesses. As a result, business leaders...more
On June 8, 2020, amendments to the Russian Arbitration Procedure Code (the APC Amendments)1 were signed into law that, in certain cases, allow a person subject to foreign sanctions to refer a dispute to the Russian arbitrazh...more
The Central Bank of the Russian Federation (CBR) has adopted new regulations for securities issues and disclosure obligations, as a result of amendments to the Russian Securities Market Law that came into effect on January 1,...more
Continued Operation of the Russian Securities Market -
Securities markets on the Moscow Exchange and other Russian exchanges continue to operate during normal business hours.
The Central Bank of Russia announced that...more
4/9/2020
/ Brokers ,
Capital Markets ,
Coronavirus/COVID-19 ,
Disclosure Requirements ,
Dividends ,
Filing Deadlines ,
Financial Statements ,
Publicly-Traded Companies ,
Reporting Requirements ,
Russia ,
Securities Traders ,
Share Buybacks ,
State-Owned Enterprises ,
Stock Exchange ,
Time Extensions
A moratorium on bankruptcy filings and certain security enforcement has been imposed by the Russian government for at least six months with respect to many categories of companies. During this period, the ability of creditors...more
In our first update on the implications of COVID 19 in relation to the Russian market, we consider:
- contract implications, including:
- the need for a detailed review of essential contracts; and
- virtual signings...more
4/3/2020
/ Acquisitions ,
Annual Meeting ,
Anti-Monopoly ,
Breach of Contract ,
Capital Markets ,
Contract Disputes ,
Coronavirus/COVID-19 ,
Force Majeure Clause ,
Foreign Investment ,
Merger Controls ,
Mergers ,
Nonperformance ,
Publicly-Traded Companies ,
Russia ,
Shareholder Meetings ,
Virtual Meetings
Strategic Enterprises Law
In July 2017, the Russian Strategic Enterprises Law (SEL) was amended to provide that the rules that restrict the acquisition of certain interests in Russian strategic enterprises by a foreign...more
As part of Russia’s response to recent Russia-related foreign sanctions (particularly the U.S. sanctions announced by the Office of Foreign Assets Control on April 6, 2018, against certain Russian state-controlled entities...more
In April 2018, the Moscow Exchange, reportedly the largest exchange in Russia, announced that it intends to admit securities of approximately 50 major U.S. and other foreign companies to public trading in the non-quotation...more
The Russian government has adopted rules setting out the procedure for preliminary review by the Russian prime minister of transactions entered into by foreign investors with respect to Russian legal entities before the...more
Despite a year of continued global political uncertainty and increasing enforcement, shareholder activism and foreign investment control activity, the 2018 outlook for Europe is positive overall. Skadden partners in the U.K.,...more
1/26/2018
/ Acquisitions ,
Anti-Corruption ,
Antitrust Injuries ,
BaFin ,
Capital Markets ,
Cartels ,
Competition ,
Criminal Prosecution ,
Cybersecurity ,
Deferred Prosecution Agreements ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
European Commission ,
Executive Compensation ,
Foreign Investment ,
France ,
Fraud ,
Germany ,
Merger Controls ,
Mergers ,
Minority Shareholders ,
Money Laundering ,
National Security ,
Private Equity ,
Russia ,
Sapin II ,
Securities ,
Serious Fraud Office (SFO) ,
Shareholder Activism ,
Shareholder Votes ,
Takeover Code ,
Trump Administration ,
UK ,
UK Bribery Act ,
UK Criminal Finances Act 2017 ,
Virtual Currency ,
White Collar Crimes
Amendments in July 2017 to Russian foreign investment laws have resulted in a significant tightening of control over transactions involving (including investments in) Russian companies by foreign investors...more
On January 15, 2016, the Stock Exchange of Hong Kong Limited (HKEx) published its Country Guide on Russia and placed Russia on its list of “acceptable jurisdictions,” formally signifying that Hong Kong’s sole regulated stock...more
1/23/2016
/ Audits ,
Bank of Russia ,
Board of Directors ,
Corporate Issuers ,
Foreign Investment ,
Hong Kong ,
Hong Kong Stock Exchange ,
Memorandum of Understanding ,
Remuneration ,
Russia ,
Shareholder Rights
On February 16, 2015, the Central Bank of Russia (CBR) signed the Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information developed by the International Organization of...more
A number of companies have recently received a letter from the St. Petersburg Stock Exchange (Exchange) in Russia stating that it has decided to admit the company’s securities to public trading on the Exchange. These letters...more