NNRF Inc (NNRI)

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*NNRF Listing-Update! Good-News! ;} ..Russia-Duma-Approves...

-- Yes!...This is what NNRF Inc. has been waiting for — Now on April 9th, 2008 Confirmation of needed Russian State Approval of foreign listings on local stock exchanges!...We are now on-track for our 'foreign' listing initiative on Russia's RTS exchange – Russia State Duma formally APPROVES first-reading of new Draft Law in motion for final reading and procedural singing into law!
- Also, for timing purposes only – A State Duma Time-Frame Case Study Exampled below; (of which resulted in approx 44-50 days between State Dumas’ first approval and the Presidents signature of new Draft Law thereafter ;o}...

---First the long-awaited necessary step -- , The Russian Duma NEWS Headlines, dated April 9th, 2008:

*Part #1: The State Duma in the First Reading has Approved Features of Placing in the Russian Federation, Foreign Securities

Posted on April 9th, 2008 by admin
The State Duma on Wednesday has approved in the first reading the administration bill, concerning of features of placing and the circulation in the Russian Federation foreign securities. The administration bill makes amendments in the law "About a capital market". Changes offered by the administration bill are directed on the decision of a problem of the admission of foreign securities on the Russian financial market and urged to supply rather liberal access for qualitative foreign securities and more difficult mechanism of th admission for foreign securities which are more risky. Thus the administration bill provides the measures directed on protection of interests of investors.
The administration bill establishes the general requests for the admission of foreign securities both to public, and to private placing and (or) to the circulation. So, the document provides, that foreign securities should be qualified as securities from federal enforcement authority on a capital market, and their emitter should be founded in one of member countries of Group of working out of financial measures of struggle against white-washing (FATF). Such approach allows to lower essentially the risks connected with financial frauds and possibility of a conclusion to the Russian capital market of securities of unfair foreign emitters.
Simultaneously with it the administration bill provides two methods of the admission of foreign securities to the public circulation in Russia. The simplified mode of the admission to the public circulation is applied to securities which have undergone listing procedure at foreign stock exchange. The decision on the admission of such securities to the public circulation in the Russian Federation can be accepted the Russian stock exchange on the basis of the application of the broker who carrying out their offer and has presented their prospectus.
More strict mode of the admission to the circulation in the Russian market is provided for securities which have not undergone listing procedure at foreign stock exchange. Such papers can be admitted to the public circulation and public placing in the Russian Federation only under the decision of federal enforcement authority on a capital market accepted on the basis of the application of the Russian exchange.
As the head of Federal service of the financial markets (FSFR) Vladimir Milovidov, now the Russian citizens has noted at meeting of the State Duma, legal persons put in foreign securities through the offshore outside of the Russian Federation. As he said, on it foreign intermediaries earn, and it is necessary, that "our intermediaries that earned banks" earned. Head FSFR has added, that the approved administration bill is directed on expanding competitive capacities of the Russian financial market, "to involve here the capital, to make its international and to win competition with the western markets — London, New York, Tokyo which at us delay today both securities, and capitals".
Vladimir Milovidov also has informed, that for 2007 by means of the financial market in economy has been involved an order of 35 % of all investments into a fixed capital. As he said, the Russian financial market allows to involve today such means. Thus head FSFR regretfully ascertained, that the part of means is involved in the foreign markets, and the problem in consolidating the capital on the Russian share platforms.
http://fin-forex.com/the-state-duma-in-the-first-reading-has-approved-features-of-placing-in-the-russian-federation-foreign-securities/

*Part #2: Foreign Shares Will be Let on the Russian Market
Posted on April 9th, 2008 by admin

The State Duma of Russia has approved in the first reading the administration bill regulating an order of public placing and the circulation in the country of foreign securities. The administration bill purpose - to facilitate access on the financial market of qualitative foreign securities and to create more difficult mechanism of the admission of the risky.
It is offered to add the base law with the positions supplying legal regulation of public placing and the circulation of foreign securities for the purpose of formation in Rusia of the international regional (Euroasian) financial centre. The general requests for the admission of papers, both to public, and to private placing and the circulation are established. So, foreign securities should be qualified as securities from federal enforcement authority on a capital market, and the emitter of foreign securities should be founded in one of member countries of Group of working out of financial measures of struggle against white-washing (FATF).
As the committee chairman of the State Duma on the financial market Vladislav Reznik has declared, administration bill acceptance will raise appeal of the Russian equity market to foreign investors. According to its estimation, as soon as possible after the introduction of the law into action the share of foreign securities in the Russian market can already make 11-12 %, Freedom transmits radio.
According to the deputy, the law «will promote formation of preconditions that the Russian financial market became the sound regional financial centre comparable to Germany and Switzerland». On the average in the world the share of foreign securities in the national financial market makes an order of 8 %, is informed on a channel site to Conduct. In the Great Britain it has reached 10,5 %, in Germany-13,7 %, in Switzerland-26,4 %, at the New York stock exchange-19,8 %. From emerging markets the big successes at Poland - 4,5 %.
http://fin-forex.com/foreign-shares-will-let-on-the-russian-market/

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Secondly, The State Duma - A Time Frame Case Study Example below;

26. On 29 September 2004 President Putin submitted to the State Duma a draft law amending the federal laws "On the General Principles of the Organization of Legislative, Executive Bodies of the Subjects of the Russian Federation" and "On the Basic Guarantees of the Electoral Rights and the Right to Participate in Referendum of the Citizens of the Russian Federation". The Law was adopted by the State Duma in the first reading on 29 October 2004 and in the final reading on 3 December (on 8 December by the Council of the Federation), and signed into Law by the President on 11 December 2004.
http://assembly.coe.int/Documents/WorkingDocs/Doc05/EDOC10568.htm