20 december 2023, 14:37

FOS and Rospotrebnadzor to exchange information on financial institutions’ violations and unacceptable practices

Chief Financial Ombudsman Yury Voronin and Head of the Federal Service for Supervision of Consumer Rights Protection and Human Welfare (Rospotrebnadzor) Anna Popova signed an agreement on information exchange on 20 December.

The document provides for information sharing on systemic violations by financial institutions of the rules of financial services and their unacceptable practices in the provision of financial services to consumers. The parties are expected to exchange legal positions and accumulated law enforcement practice on issues of protecting the rights of consumers of financial services.

Proposals are also supposed to be shared on improving the Russian Federal legislation on the protection of the rights of consumers of financial services, as well as positions on joint participation in the judicial protection of the rights of consumers of financial services.

One of the issues of envisaged interaction is the promotion of financial literacy of citizens within the competence of the parties. The agreement stipulates both the exchange of information and the opportunity to carry out joint activities to enhance the financial literacy of citizens.

The implementation of the agreement is to ensure information sharing in solving tasks related to improving the legal protection of consumers of financial services, Yury Voronin pointed out.

“Rospotrebnadzor and the Financial Ombudsman Service (FOS) are going to join their efforts, which is bound to bring our work on reviewing citizens’ appeals to a new level and increase the efficiency of procedures. The implementation of the agreement is certain to help identify various violations more quickly and contribute to their prevention,” the Chief Financial Ombudsman added.

Copy link