Rambler appeals against $8,500 fine imposed by Central Bank
MOSCOW, August 11 (RAPSI) - Rambler Internet Holding has filed an appeal against a 500,000-ruble fine (about $8,500) imposed on the company by the Central Bank of Russia for refusal to provide user information, RAPSI learnt in the Ninth Commercial Court of Appeals on Friday.
The appeal will be considered on September 5.
According to case papers, the regulator has sent Rambler a request to furnish information on a mail.rambler.ru user in relation to checking for alleged manipulation of stock markets during the Moscow Central Stock Exchange tender.
Rambler Internet Holding has not complied with the requirements in due time. The company claims that the requirement was not executed because the required information could be disclosed only by Law on combating illegal use of insider information and market manipulation.
However, the Moscow Commercial Court held that the Central Bank’s ruling must be enforced and therefore dismissed Rambler’s lawsuit demanding to declare the fine illegal.