Back to overview

Bank of Russia 30.12.2014 N 454-P Regulations on information disclosure by issuers of securities

Russia Current 2015

This revision of the disclosure requirements for listed companies is very extensive but it repeals the 2011 disclosure regulations that made non-financial information in annual reports mandatory.

Issuer name

Russian Central Bank and ministry of Justice

More information

More generally, organizations are required to disclose the following matters: • information on the issue (additional issue) of securities; • information presented in the form of the securities prospectus; • issuer’s consolidated financial statements; • issuer’s quarterly reports; • information on the material facts in the issuer’s activity; and • other information on the fulfilment by the issuer of its obligations and implementation of rights under the placed securities (or securities to be placed).

Organizations covered by the instrument

Large private and listed companies

Target organization notes

The Regulation applies to all securities issuers, including foreign issuers, inter alia, international financial institutions, whose securities are placed and (or) circulate in Russia (with exception to the Central Bank, issuers of state and municipal securities).

Industry scope

All/none specified

Disclosure venue

Annual report






Asia Pacific

Date of publication


Issuer type

Financial Market Regulators

Reporting requirements

Public law and regulation

Mandatory or voluntary


The geographical scope


Go to the instrument