The Government of the Russian Federation and the Bank of Russia, in conjunction with the Supreme Court, were instructed to consider making amendments to legislation to improve the activities aimed at preventing, detecting and curtailing the illegal use of insider information and/or market manipulation, as well as to determine appropriate economic liability for such offences (crimes).
At the same time, provisions should be made for raising to 100 million rubles the minimum amount of criminal damage for purposes of bringing to criminal responsibility for such acts; extending the limitation for bringing to administrative liability for such offences; making the administrative penalty for such offences several times larger than the income derived from legal activities; executing asset forfeiture when bringing to criminal responsibility for market manipulation; and introducing additional mechanisms of exemption from criminal liability for market manipulation for first-time offenders if they compensate for the damage caused.
The Government of the Russian Federation has also been instructed to ensure that public joint-stock companies partially owned by the state whose work involves the use of insider information comply with the provisions of the Russian Federation legislation on countering the illegal use of insider information and market manipulation.