Self-dealing bond trades earn Levitin over ₽470,000
The Bank of Russia found that Anatoly Levitin manipulated bond trading on Moscow Exchange through 99 transactions worth ₽18 million in 2025. He used his own brokerage account and those of 11 clients, earning over ₽470,000.
Client accounts became the buyers
Anatoly Aleksandrovich Levitin used powers of attorney to trade through clients' brokerage accounts as well as his personal account.
In 2025, he executed 99 transactions involving bonds of several Russian issuers, totaling ₽18 million across his account and those of 11 clients.
He bought bonds from a wide range of sellers in organised trading, then resold them to clients, independently submitting orders on both sides.
The Bank of Russia found that these trades distorted bond prices, supply, demand and trading volumes relative to levels without the transactions.
Levitin earned over ₽470,000 from the unlawful trades.
The regulator said his conduct conflicted with his clients' interests and carried heightened public risk.
Liability and account restrictions
The regulator classified the conduct as market manipulation under Clause 2 of Part 1 of Article 5 of Federal Law No. 224-FZ of July 27, 2010, on insider information misuse and market manipulation.
Levitin has been held administratively liable and received a binding cease-and-desist order against similar violations.
The Bank of Russia also ordered trading organisers and professional securities market participants to suspend transactions on his trading accounts and those of his clients because of transactions violating the law.
Authority does not remove conflicts
The case concerns an authorised trader acting against clients' interests.
The regulator warns that such practices expose investors to monetary losses and draw them into unfair trading.
It also says these practices undermine confidence in the financial market.