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Ingosstrakh FFMS fined 1 million rubles

August 12 2009

The Federal Financial Markets Service has fined Ingosstrakh a million rubles. The reason why the fine was imposed, was the failure to provide documents to minority shareholders who controlled the fund PPF Investments (PPFI).

The solution FFMS said newspaper Vedomosti , citing a source close to one of the shareholders of Ingosstrakh, as well as to counsel bureau Bartolius "Ilya Peregudova, which represents the interests of PPFI in court.

Structure of this fund have repeatedly appealed to Ingosstrakh, requiring protocols to provide some of the meetings of the board and the board. Documents were received, but they were not certified by signature and stamp. In addition, the documents were not bound, which makes it impossible to establish their correspondence to the original.

The representative of Ingosstrakh said that the decision will be appealed to the Federal Financial Markets Service Court. He reported that the shareholders received copies of the documents in the office of an authorized person and to familiarize themselves with their originals, but they did not.

Thus, the right to information held by minority shareholders, was not violated, according to a representative of Ingosstrakh.

According to him, the complaint in the Federal Financial Markets Service directed against the interests of the insurer.

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