Compliance is the foundation of MegaFon's corporate governance system. MegaFon complies with regulations relating to joint-stock companies, including the provisions of Russia's Federal Law On Joint-Stock Companies . Since the Company has a listing on the London Stock Exchange (LSE), it is required to comply with the Disclosure and Transparency Rules of the UK Financial Conduct Authority for "standard" companies, and the LSE Listing Rules.
For each fiscal year ending 31 December, MegaFon publishes audited consolidated financial statements prepared in accordance with IFRS and also provides unaudited consolidated financial statements under IFRS at the end of the first, second and third fiscal quarters. The Company places announcements of its financial results, as well as notices of upcoming General Meetings of Shareholders and other important and price-sensitive information, on the LSE website via its Regulatory News Service (RNS), and in Russia via an authorised information agency, Interfax. These announcements are followed by the publication of press releases on the corporate website at link
As a public company listed on Russian and UK stock exchanges, MegaFon understands that prevention of illegal uses of its considerable amounts of insider information is a top priority.
The Company consistently implements safeguards to ensure the security of insider information, making improvements to its data security framework every year. As part of these efforts, in 2012, the Board of Directors approved a number of regulations on the use of the Company's insider information. In the period 2013 - 2015 MegaFon implemented additional internal procedures to restrict access to insider information and insider information protection tools, including those applicable for mobile devices.
MegaFon plans to continue to further develop its insider information protection system and roll out additional protection tools. MegaFon will also continue to provide training and follow up testing for Company employees to raise staff awareness of insider information security, which is critical to our business.