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On Amendments To The Federal Law "on Securities Market" And The Federal Law "on Investment Funds"

Original Language Title: О внесении изменений в Федеральный закон "О рынке ценных бумаг" и Федеральный закон "Об инвестиционных фондах"

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Federal Law On Amendments to the Federal Law "About the Securities Market" and the Federal Law "On Investment Funds" Accepted State Duma of the State Duma on March 24, 2006 approved by the Federation Council on April 7, 2006 Article 1 Amend the federal law dated 22 April 1996 N 39-FZ "About the securities market" OF THE PRESIDENT OF THE RUSSIAN FEDERATION 1918; 2001, N 33, sect. 3424; 2002, N 52, sect. 5141; 2005, N 25, est. 2426; 2006, N 1, article 5; N 2, est. (172) The following changes: 1) in the second part of article 38, the word "issuers," delete; 2) in article 39: (a) in the first word "or its authorized bodies under the general licence" should be deleted; b) Part three, as follows: " The Federal Executive of the Securities Market Authority, which issued the licence, supervises the activities of professional participants in the securities market and accepts Decision to withdraw the issued licence in violation of Russian legislation of the Federation on securities. "; 3) in article 42: (a), paragraph 7 (7) shall be declared null and void; (b) paragraph 8 restates: " 8) sets out the procedure for issuing permits and provides extradition permits for the acquisition of the status of a self-regulating organization of professional participants in the securities market, maintain the register of these organizations, revoke permits for the acquisition of the status of a self-regulating organization in violation of the requirements OF THE PRESIDENT OF THE RUSSIAN FEDERATION of the requirements approved by the federal executive branch of the securities market; "; , paragraph 14, amend to read: " 14) sets out qualification requirements for employees of professional participants The securities market, the requirements for the professional experience of persons exercising the functions of the sole executive body of professional participants in the securities market, approves the program of qualification examinations for attestation of citizens in the sphere Professional activities in the securities market, conditions and The procedure for accreditation of organizations that carry out certification of professional activities in the field of professional activity in the securities market in the form of the reception of qualification examinations and the issuance of qualification certificates, performs the accreditation of such organizations, identifies the types and forms of qualification certificates and maintains a register of certified persons; "; 4) in article 44: (a) paragraph 1 shall be declared void; (b) in paragraph 5, the words" in the issuance of a licence "shall be replaced with the words" in extradition permit ", the words" to revoke the licence granted to it "shall be replaced by the words" "revoke the authorization granted to it"; in paragraph 11 to recognize the void; 5) paragraph 5 of article 49, amend to read: " to train citizens in the field of professional activity in the market of securities, as well as in the case where a self-regulated organization is an accredited federal agency of the executive branch of the securities market, take the qualifying examinations and issue qualification certificates. "; 6) Article 51, paragraph 8: the words " and their officials shall have the right to Recourse to action "shall be replaced by the words" have the right to appeal to the arbitral tribunal "; to supplement the following paragraph: " Individuals who have withdrawn their qualifications in the professional field " The securities market is entitled to appeal to the arbitral tribunal in accordance with the procedure provided for in the legislation of the Russian Federation, in accordance with the decision of the federal executive branch of the securities market. ". Article 2 Amend federal law dated November 29, 2001 N 156-FZ " On Investment Funds " (Legislative Assembly of the Russian Federation, 2001, N 49, p. 4562) the following changes: 1) Article 55, paragraph 2, amend to read: " 2. The federal executive branch of the securities market has the right: regulate the activity of joint-stock investment funds, managers of companies, specialized depositaries in accordance with this Federal Law; set requirements to prevent conflicts of interest of management companies and specialized depositaries; Companies, specialized depositaries; to establish, together with the federal executive authority responsible for the formulation of public policies and regulations in the area of accounting and accounting, accounting rules and regulations. Accounting and accounting records of joint-stock investment funds, managers and specialized depositaries; to establish qualification requirements for employees of managers and specialized depositaries, requirements for the professional experience of persons exercising Single executive body of managing companies and specialized depositaries, approve programs of qualification examinations for certification of citizens in the sphere of activity of management companies and specialized depositaries, define The conditions and procedures for the accreditation of organizations carrying out certification of citizens in the sphere of activity of management companies and specialized depositaries in the form of acceptance of qualification examinations and the issuance of qualification certificates, accreditation of such organizations, identify types and forms of of qualification certificates and maintain a roster of certified persons; to monitor the activities of joint-stock investment funds, managers, specialized depositaries; by the federal executive body responsible for the formulation of public policy and regulatory framework in the field of auditing, requirements for auditors entitled to provide audit services to shareholders Investment Funds, Managing Companies and Specialized Section depositaries; to monitor compliance with this Federal Act, to consider complaints by citizens and legal entities related to violations of this Federal Law; Investment funds, management companies and specialized depositaries; to approve the rules of the registry of the owners of the investment shares; to send to the equity investment fund manager of the company, Specialized Depositary of the Regulation on the Elimination of of this Federal Act, the regulatory legal acts of the federal executive branch of the securities market and the time frame for the elimination of such violations; to decide on the suspension of extradition, payment and exchange Investment projects in accordance with this Federal Law; impose fines on joint-stock investment funds, management companies, specialized depositaries and agents for the extradition, payment and exchange of investment shares; apply to the court for the elimination of legal persons; implementing the activities under this Federal Act, without appropriate licenses; To sue for shareholders in equity investment funds and owners of investment payers in case of violation Their rights under this Federal Law; to annul the qualification certificates of natural persons in the event of repeated or gross violations of the Russian Federation's legislation on securities; exercise other powers under federal law and Other regulatory legal acts of the Russian Federation. "; (2) paragraph 4 of article 58 should read as follows: " to train citizens in the activities of managers and specialized companies ". depositaries, and in the case of a self-regulated organization accredited by the federal executive branch of the securities market, take the qualifying examinations and issue qualification certificates; "; , 3) supplement Article 63-1 as follows: " Article 63-1. Appeals against deviant legal acts, decisions and actions (inaction) of the federal executive branch of the securities market shares Joint stock investment funds, managing companies, The specialized depositaries have the right to appeal in accordance with the procedure provided for in the legislation of the Russian Federation, to the arbitral tribunal, and to appeal against acts and omissions of the federal executive branch of the executive branch Securities relating to State regulation The activities of these persons and the State control of their activities. Natural persons who have revoked qualification certificates in the sphere of activity of the management companies and specialized depositaries have the right to appeal to the arbitral tribunal in accordance with the procedure provided by Russian law. Federation, corresponding to the decision of the federal executive branch on the securities market. ". Article 3 1. This Federal Law shall enter into force 10 days after the date of its official publication, with the exception of subparagraph (a) of article 1, paragraph 3, and paragraph 1 of article 2, paragraph 1, of this Federal Act. 2. Paragraph 3 of article 1, paragraph 3, and article 2, paragraph 1, of this Federal Act shall enter into force on 1 July 2006. President of the Russian Federation Vladimir Putin Moscow, Kremlin 15 April 2006 N 51-FZ