Bloomberg News

Troika Brokerage Fined by Ukraine Stock Market Regulator

January 15, 2013

Troika Dialog Ukraine, the local unit of Russia’s OAO Sberbank, was fined by the Ukrainian stock market regulator for “manipulating securities” and receiving an “unjustified profit.”

The National Stocks and Securities Commission fined Troika 170,000 hryvnia ($10,879) for actions on March 15 that changed the benchmark index of Ukrainian Exchange, the UX, with the purpose of making a profit in operations with futures, the regulator said in a statement on its website today.

“The commission studied the situation comprehensively,” acting head Anatoliy Amelin said in the statement. A detailed analysis proved there was “manipulation with prices.”

“We regard the commission’s decision today as unjustified and unlawful,” Troika’s press service said in e-mailed statement. “We are going to challenge this decision according to the law.”

The commission started a case against Troika in December, according to its website.

To contact the reporters on this story: Kateryna Choursina in Kiev at kchoursina@bloomberg.net; Daryna Krasnolutska in Kiev at dkrasnolutsk@bloomberg.net

To contact the editors responsible for this story: Balazs Penz at bpenz@bloomberg.net; James M. Gomez at jagomez@bloomberg.net


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