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. Last Updated: 07/27/2016

State Creates Financial Scrutiny Body

An ad hoc commission to investigate abuses in the country's financial markets and evaluate companies' monopoly positions has been set up by the Federal Anti-Monopoly Service and the Federal Financial and Budgetary Supervisory Service.

Analysts say the new watchdog, charged with investigating widespread abuses, including insider trading, would also help de-monopolize the securities market and reduce stock market fees.

"The commission is to preclude collusive trading in the financial markets as well as investigate any abuses by professional traders," said Yulia Bondareva, head of the supervisory's financial services control directorate, Kommersant reported Monday.

According to its terms of reference, the commission will control the activities of all banks, registrars, investment companies and stock exchanges, as well as monitor the activities of those selling government bonds to check if anti-monopoly laws have been breached.