The issuer may be, according to the definitions, a legal entity, a local government body, an executive body (those having the right to issue securities and taking responsibility for them to their owners to exercise the rights assigned to them). By issuing securities under loans, state and business entities can become issuers. They may also be an individual (as an individual entrepreneur) issuing debt bonds. Thus, the issuer is a rather voluminous concept. In short, this is an entity issuing securities, fulfilling obligations under them and being a resident of the Russian Federation.
The largest issuer is the state. He is represented by the Ministry of Finance. Securities issued by him are considered the most break-even, since it will always fulfill obligations under them. The risk of investing money is minimal, profitability is high, they have absolute liquidity. That is why the securities created by the state occupy a leading position in the stock market in Russia.
Securities of high liquidity are issued by republican and municipal authorities, as well as non-state entities enjoying state support.
In the stock market, securities are goods, the issuer is the seller. One of these products are stocks. They are produced by large joint stock companies. When forming a joint stock company, shares with a nominal value of ten thousand or more can be issued. The price for them fluctuates all the time, therefore it cannot be reliably said (about the majority of shares) that this is a reliable investment of money. Most in demand are the shares of major manufacturing organizations. Such as Gazprom. Their exchange rate is stable, not subject to critical fluctuations.
Banks issue not only stocks, but also savings certificates, bills and certificates of deposit. The Central Bank is engaged in the issue of banknotes (a kind of credit securities). As a rule, most bank securities are not traded in the stock market.
The list of issuers includes mutual fund management companies (mutual funds), but they do not yet occupy a significant place in the securities trading market. Perhaps the situation will change over time.
The number of securities issued by the issuer is limited. It is determined by the Law of the Russian Federation "On the issue of securities". Each issuing organization is required to submit a report to the Federal Service for Financial Markets of Russia (FFMS). It is made up in a certain form. The issuer's report contains a register of owners of securities, data on the subject itself and its controlling bodies. Information on the registry is submitted once a year (until February 15).
Information about the entity issuing securities (and its auditors) is provided by the FSFM in the form of a quarterly report. The report is published in the media so that all shareholders are familiar with it. The issuer's quarterly report is governed by the Regulation on disclosure of information by issuers issuing securities.
As you can see, the issuer is not only an entity engaged in the issue of securities, but also a person who is responsible not only to their owners, but also to the state.
