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Insiders dealings and securities market manipulations now punishable by law in Kazakhstan

03 june 2014, 18:58
0
First Deputy Prosecutor General Johan Merkel. Photo  courtesy of ortcom.kz.
First Deputy Prosecutor General Johan Merkel. Photo courtesy of ortcom.kz.

Insiders dealings and securities market manipulations will be punishable by law in Kazakhstan, Tengrinews correspondent reports citing First Deputy Prosecutor General Iogan Merkel.

"Two new articles are being introduced: Securities Market Manipulation and Insiders Dealings. There were no such articles before," said Merkel, responding to journalist questions after a meeting of the Judiciary Committee of the Senate that was devoted to preparations for the second reading of the new draft Criminal Code of Kazakhstan.

Merkel also noted that all in all the senators have made 55 amendments to the new draft of the Criminal Code. Earlier he informed that imprisonment for economic crimes can be avoided in case all the damages are repaid. He noted that these citizens will, nevertheless, get a criminal record. As for those people who are already serving their sentences in prisons for economic crimes, the new norm will not apply to them.

Reporting by Renat Tashkinbayev, writing by Dinara Urazova
 


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