Press Releases
Huizenga Calls on U.S. Stock Markets to Permanently Suspend Trading of Russian Companies
Washington,
March 1, 2022
Today, Congressman Bill Huizenga (R-MI), Ranking Member of the Investor Protection, Entrepreneurship, and Capital Markets Subcommittee released the following statement on the New York Stock Exchange (NYSE) and Nasdaq’s decision to temporarily halt trading in the stocks of Russia-based companies listed on their exchanges. “The move by the New York Stock Exchange and Nasdaq to halt trading of Russia-based companies is a good start,” said Congressman Bill Huizenga. “These publicly traded companies should not benefit from our free and fair markets. I call on all U.S.-based exchanges to permanently suspend trading of Russian companies until Vladimir Putin ends his unlawful and unprovoked war on Ukraine.” Background On Monday, Nasdaq Inc and Intercontinental Exchange Inc’s NYSE temporarily halted trading in the stocks of Russia-based companies listed on their exchanges citing regulatory concerns following sanctions on Russia. The NYSE halted the trading of Russian telecom operator Mobile TeleSystems PJSC, mining and steel company Mechel PAO and online real-estate classifieds company Cian PLC. Nasdaq halted the trading of several other Russian companies, including search-engine operator Yandex NV and online retailer Ozon Holdings. Separately, the OTC Markets Group, which provides price information for over-the-counter securities and the Depository Trust and Clearing Corporation (DTCC), which processes nearly all U.S. securities transactions said on Monday that they would continue to monitor developments in Ukraine, while seeking guidance from Federal regulators. |