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RBC, 29 Oct 1999, Moscow 12:02:52

Administrative Punishment To Be Imposed On "ZIL" and "Vnukovo Airlines" Companies By Federal Securities Commission


The Commission for Reviewing Cases of the Violation of Russian Legislation on the Investors' Rights and Legal Interests Protection at the Securities Market recommended at its first meeting on October 28 that the Federal Securities Commission of Russia impose administrative punishment on Zavod imeni Likhachyova (an automotive plant in Moscow) and Vnukovo Airlines joint-stock companies, the press center of the Federal Securities Commission reported. This is related to the violation by the both enterprises of the federal law On the investors' rights and legal interests protection at the securities market. Consideration of the case against Depositary and clearing company is rescheduled for November 23, 1999 due to the necessity of the expertise of some new documents submitted by the company.