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Globex Bank appeals antimonopoly watchdog's fine

17:06 23/09/2011

MOSCOW, September 23 - RAPSI, Sergei Feklyunin. A commercial court will consider on September 29 Globex Bank's appeal for exemption from an $11,000 fine imposed by the Federal Antimonopoly Service, the court told the Russian Legal Information Agency (RAPSI).

Established in 1992, Globex Bank is a top-30 Russian bank with most of its shares (99.16 percent) owned by the state-run Bank for Development and Foreign Economic Affairs.

The watchdog's resolution to levy the fine was issued on August 25 and the bank's appeal was filed on September 19.

The watchdog told RAPSI that Globex purchased shares in another lender whose assets exceed the established 33 billion ruble ($1.180 million) limit without the regulator's preliminary authorization.

The watchdog fined the bank 300,000 rubles for the violation.

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Globex Bank appeals antimonopoly watchdog's fine

17:06 23/09/2011 Commercial court will consider on September 29 Globex Bank's appeal for exemption from an $11,000 fine imposed by the Federal Antimonopoly Service.
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