President Medvedev has approved legislation that will allow foreign securities to be offered into Russia for the first time. The new Securities Law will come into force on May 16, but there is concern over its application.
“The law now offers the possibility to offer a prospectus for foreign securities. But it doesn’t say to which standard,” said Konstantin Kroll, partner at Allen & Overy in Moscow. “If you assume it is to a Russian standard, it would be impossible. Many Russian standards don’t...