Published on: 2026-06-06
Source: Central Bank of Russia – Central Bank of Russia –
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Updated: 23.10.2023
Subparagraph 5 of paragraph 11 of article 29.1 of the Federal Law dated 22.04.1996 No. 39-FZ “On the Securities Market” (hereinafter – Law No. 39-FZ) provides for a list of events about which the representative is obliged to inform the bondholders.
The representative informs bondholders about the circumstances provided for in paragraph 3.1 of the Regulations of the Bank of Russia dated 29.10.2014 No. 439-P “On the procedure for including persons in the list of persons carrying out activities as representatives of bondholders, and excluding persons from the specified list, the procedure for informing bondholders and the representative, the procedure for submitting a notification containing information about the representative of bondholders, and the requirements for its form and content” as of the day the representative learned or should have learned about the detection or occurrence of the relevant circumstances.
Information disclosed by the issuer in the form of messages and documents provided for by the Regulation of the Bank of Russia dated 27.03.2020 No. 714-P “On Disclosure of Information by Issuers of Securities” (hereinafter — Regulation No. 714-P) is one of the sources of information on the basis of which the representative informs the owners of bonds.
Non-disclosure of information by the issuer in accordance with clause 1.17 of Provision No. 714-P does not entail the termination of the obligation of the representative to inform the bondholders, as provided for in subparagraph 5 of paragraph 11 of article 29.1 of Law No. 39-FZ.
Thus, the representative is obliged to take all possible actions aimed at obtaining information that is necessary to inform bondholders in accordance with subparagraph 5 of paragraph 11 of article 29.1 of Law № 39-FZ, including contacting the bond issuer directly with a request to provide the necessary information.
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