MOSCOW, April 19 (RAPSI) - The State Duma Committee on Financial Markets has upheld the proposal to lower the Central Bank approved stock purchase transaction threshold from 20% to 10% for purchases which are intended to gain control of a company.

An amendment to this effect was submitted to the lower house in time for a second reading of the bill on the regulation of banking groups and holding companies activity. The bill is likely to be heard after May 12.

Committee Chair Natalya Burykina said: "International organizations have approximately the same requirements, and we agree that we need to do this to be able to monitor capital transparency."

The Central Bank can deny the right to buy more than 10% of a bank if the buyer's financial standing or business reputation are unsatisfactory, if the antitrust regulator has not approved the deal, or if there is no preliminary approval of the deal.