Article: Russian central bank to expand market manipulation criteria

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Russian central bank to expand market manipulation criteria

Elena Fabrichnaya, 13 May 2021

MOSCOW, May 13 (Reuters) – Russia’s central bank said on Thursday it plans to expand a list of actions deemed to be market manipulation, facing a need to protect growing numbers of retail investors after a series of cases involving what it called malicious transactions.

Retail investors flooded to the market in 2020 as central bank rate cuts reduced the appeal of bank deposits and the COVID-19 pandemic left people working from home and with time to spare.

“The regulator intends to recognise intentional acts that mislead investors and create artificial activity in relation to listed assets as manipulation,” the central bank said.

The bank has already said it will limit retail investors’ access to complex products on financial markets from October, saying a trading frenzy on online forums such as Reddit’s WallStreetBets in the United States had highlighted the dangers of a lack of regulation.

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