Bastrykin linked the fall of the ruble with the use of insider information – RBC

The head of the Investigative Committee of Russia Alexander Bastrykin Photo: Mikhail Klimentyev / TASSlava the Russian Investigative Committee (SK) Alexander Bastrykin <. /> span>

The big players in the currency market, without knowing how it will change the exchange rate, would not invest in risky transactions such large sums, the head of the Investigative Committee Alexander Bastrykin

A sharp drop in the ruble exchange rate was not only due to the decrease in oil prices and the introduction of sanctions against Russia, but also due to the “strong speculative pressure” on the ruble, said the head of the Investigative Committee of Russia (TFR) Alexander Bastrykin .

«At the same time some of the major participants in the foreign exchange market to build their strategy speculative financial instruments in such a way as if they had all the details known about the dynamics of the future exchange rate of national currency fluctuations. It seems that without the knowledge of the relevant insider information, they would hardly have made such speculative transactions involving high risk, and would be used for this purpose almost all available their liquidity, “- said Bastrykin, speaking at a round table” Actual problems of science of criminal law and law enforcement CIS practice. »

The head of SCR stressed that for insider trading and manipulation of the currency market is a criminal offense, but for three years under the relevant articles of the Criminal Code was initiated in all three cases. “This is connected not only with objective difficulties and lack the skills to identify such crimes. Sami these articles, in fact, are the norms, the use of which is almost impossible “, – complained Bastrykin, calling for a renewal of the legislation

According to the CCJ,” dead norms “, formally establishing responsibility for market manipulation and illegal. the use of insider information, need to be improved, since in its present form have a “very low enforcement capabilities».

«undesirability of conservation of such rules in the existing criminal law is that they only create the illusion of a criminally-legal protection the corresponding social relations, which are in fact not at all protected against attacks, “- said Bastrykin

The head of the TFR has also indicated that introduced Western sanctions did not affect short-term financing,” which also forms the speculative capital, to put pressure on our own. the national currency. ” Back in December 2014, after the beginning of the sharp depreciation of the ruble, Bastrykin called the fight against currency speculators, in violation of the law, “the most important issue for the stabilization of the economic situation in the country».

«Sharp fluctuations, and especially the weakening the national currency, entail very negative consequences for the economy, including inflation. And this must be tough to fight, “- said Bastrykin, proposed an amendment to the Criminal Code so as to insider trading and market manipulation in the monetary sphere became an aggravating circumstance.

Later, Russian President Vladimir Putin demanded that the FSB pay more attention to the fight against economic machinations that lead to jumps in the national currency. “We need to work closely with the Accounts Chamber, Federal Financial Monitoring Service and other control structures, actively disclose and prevent attempts kibermahinatsy on the Russian stock and currency markets, which lead to foreign exchange fluctuations and hurt the country’s financial system,” – said Putin, speaking at the board of the FSB.