Attorney of the Practice of Criminal Law and Process Karina Tamayeva had a speech "Public-legal responsibility of the investor for manipulation of the organized market"
Attorney of the Practice of Criminal Law and Process Karina Tamayeva had a speech "Public-legal responsibility of the investor for manipulation of the organized market" at the Institute of Legislation and Comparative Law under the Government of the Russian Federation. Karina Tamayeva spoke at the round table "Forms of Protection of Investors" Rights "within the framework of the XIV Annual Scientific Readings of Memory of Professor S.N. Bratusya on the theme: "Investments in National and International Law: Balance of Private and Public Interests." The main theses of the report of the attorney, a graduate student of the Institute of Legislation and Comparative Law under the Government of the Russian Federation, related to the use of insider information on securities markets. "The use of insider information by investors and professional participants of the securities market and the subsequent manipulation of the market on the basis of such information. Different jurisdictions develop their own approaches to resolving whether an organized market should be settled from within or be under external state control. Despite the fact that the norms prohibiting the misuse of insider information and market manipulation have existed in Russian criminal legislation for almost 10 years, they have never been properly developed in law enforcement practice. Many researchers are convinced that the reasons for this were the need to prove harm to victims of investor actions due to the material nature of the crimes, the excessively formalized definition of insider information, as well as the numerous difficulties of investigating crimes on the securities market. However, natural market fluctuations and information asymmetry among its participants have always occurred. In this connection, the change in the design of the offences provided for in article 185.3 and article 185.6 of the Criminal Code of the Russian Federation in favour of formal offences cannot be considered justified. A different approach may lead to excessive use of criminal repression in normal civil relations. "