OREANDA-NEWS. August 26, 2008. The National Depository Center (NDC), Russia’s only settlement depository servicing the full range of Russian securities, reports approval of a Disclosure Policy, an internal NDC regulation related to information disclosure. The term “information disclosure” in the document means disclosure of material information related to NDC’s operations and corporate governance, which is either subject to submission in accordance with current legislation or supplied by NDC at its own initiative and at a stakeholder’s request.

NDC follows the principle of information transparency for its activities for all affiliated companies, NDC’s customers, business partners, state authorities, NDC employees and all other stakeholders based on compliance with the following rules:
conformity of information disclosure activities and disclosure policy implementation with NDC’s development strategy, its objectives and tasks
provision of accurate information and its accessibility
timeliness, regularity and non-selectivity (not disadvantaging one group of information recipients over others) of information disclosure
maintenance of a reasonable balance between the company’s openness and its commercial interests
adherence to the legal requirements of the Russian Federation and other regulations related to official secrecy and confidentiality
observance of the norms of professional ethics.

Nikolay Egorov, Director, NDC, said: “Approval of the NDC’s Disclosure Policy related to information disclosure is recommended in the Code of Conduct approved by the Federal Financial Markets Service of Russia for organizations to follow the best corporate governance practice. This step confirms the seriousness of our intentions to increase the efficiency of NDC’s management system. The document defines the company’s transparency so that, on the one hand, it meets NDC stakeholders’ demands for information, and on the other hand, it adheres to Russian Federation legislation, commercial secrecy and confidentiality, and also the standards of professional ethics.”

NDC’s Risk Management Committee, meeting Aug. 21, recommended a draft of the Disclosure Policy for management approval.