FBK Partners on Uneven and Insufficient Disclosure Level Among Bond Issuers in Russia

In a joint interview to the Expert RA agency, FBK Senior Partner Anastasia Terekhina and FBK Partner Vladimir Potekhin addressed problematic issues regarding securities market transparency, particularly within the SME segment, and the role of audit and consulting firms in preparing issuers for IPOs amid proposed regulatory measures from the Bank of Russia. As Vladimir Potekhin pointed out, the new requirements aim to enhance disclosure quality and protect investor interests. In this context, the role of audit and consulting firms in IPO preparation becomes even more important.

In the interview, the experts also explored market trends shaping demand for audit and consulting services and their overall impact on FBK’s operations. According to Anastasia Terekhina, the market increasingly seeks integrated solutions, where clients receive end-to-end support. ‘More recently, we have observed growing interest in corporate reporting and governance frameworks, largely driven by publications and statements from the mega-regulator, as well as exchange requirements for issuers. Additionally, demand for IT and cybersecurity services continues to grow every year—including classic IT audit, GOST compliance, penetration testing, and IT cost optimisation’, Anastasia Terekhina remarked.

Read the full interview via the link below.