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GAAP.RUNewsJoint-stock companies in Russia will be divided into public and private

Joint-stock companies in Russia will be divided into public and private

Publication date: 25 May 2010

Soon all joint-stock companies in Russia will be divided into public and private, with different requirements for corporate companies. The financial institute of closed joint-stock companies (CJSCs) will be eliminated.

The financial institute of closed joint-stock companies (CJSCs) will be eliminated in Russia:  the corresponding amendments to the law on joint-stock companies were drawn by the Ministry for Economic Development to improve regulation of corporate governance practices in Russian companies.