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The Central Bank of Russia wants to restrict the sale of compound financial products

The head of the Bank of Russia Elvira Nabiullina informs that the regulator wants to impose restrictions on sales of compound financial products to unqualified investors, Gazeta.Ru reports.
The Central Bank of Russia wants to restrict the sale of compound financial products

Nabiullina notes that the Central Bank is obliged to protect new, inexperienced investors from instruments, the risks on which they cannot assess. According to her, the regulator proposes to bring in restrictions for 1.5-2 years, until the tools for testing the qualification of investors start working.

Elvira Nabiullina says the Central Bank is concerned about protecting unqualified investors who do not always understand the products they are offered. “Therefore, I would like to ask you when you have savings, read the contracts carefully,” Nabiullina said.

According to her, it is the most relevant issue, as many banks are actively offering various products against the background of low rates.

Source: https://www.gazeta.ru/business/news/2020/12/03/n_15312235.shtml

Photos are from open sources.

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