Cbank: No securities mkt law violations in Alfa Capital newsletter

SOCHI, Sep 14 (PRIME) -- Russia’s central bank found no violations of the securities market law in actions of Alfa Capital, which sent a newsletter notifying clients of problems at four major banks in August, Deputy Chairman Vladimir Chistyukhin told reporters Thursday.

“The Bank of Russia evaluated actions of Alfa Capital management company and its management in the context of legislation on the securities market. After all explanations of the position of Alfa Capital we did not find violations in this part,” he said.

The central bank has yet to analyze the segment connected with insider information and manipulation, a probe continues, he added.

In its newsletter, Alfa Capital warned its clients about problems at Otkritie Financial Corporation (FC) Bank, B&N Bank, the Credit Bank of Moscow and Promsvyazbank.

Alfa Capital said then that the newsletter was based on a personal opinion of an expert and that the company possessed no insider information about the mentioned banks.

The Federal Antimonopoly Service said then it would check Alfa Capital for unfair competition and issued a warning for the firm, but later decided not to open a case against the company over violation of the antimonopoly legislation.

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