VTB Finds Irregularities

By The Moscow Times

Sep. 22, 2010

VTB discovered a number of internal financial irregularities at the end of 2009, according to a report from the bank’s comptroller.

These included a failure to notify the comptroller of evidence of securities price manipulation. The comptroller recommended disciplinary action against employees and managers in the bank’s investment division, VTB Capital.

Violations of deadlines and accounting procedures were found, as well as issues with limits and excessive risks in operations on financial markets.

(Vedomosti)

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