Live broadcast by the Financial Ombudsman Service on the procedure for interaction with financial institutions has taken place

On October 22, 2020, a live broadcast was held for representatives of credit organizations, non-governmental pension funds, pawnshops and consumer credit cooperatives on the procedure for interaction between financial organizations and the Financial Ombudsman Service.

Since January 1, 2021, these institutions will be subject to the Federal Law «On the Ombudsman for the Rights of Consumers of Financial Services». In particular, starting from this date, the FOS will consider complaints from consumers of financial services against credit organisations, non-governmental pension funds, pawnshops and credit and consumer cooperatives in a mandatory out-of-court dispute resolution procedure. By this date, financial institutions are obliged to have their interaction with the Financial Ombudsman Service organised.

When drawing up the programme of events, the Financial Ombudsman Service has taken into account the questions that the participants had sent before the event. Over 370 participants joined the live broadcast.

During the broadcast, participants received comprehensive information on various issues related to the mandatory out-of-court dispute resolution procedure. The speaker of the event was Evgeny Grishanin, Chief of Staff of the Ombudsman for financial services consumers support Service (OFSC).

In his speech, Evgeny Grishanin explained the essence and stages of the mandatory out-of-court dispute resolution procedure in the financial market and the reasons it was established in Russia. He dwelt on the structure and principles of the Financial Ombudsman Service, the rights and obligations of financial institutions, details of interaction between financial institutions and the FOS, the procedure for payment of contributions to the fund for financing the FOS activities. Answers were also given to participants’ questions that were being received during the live broadcast.

Evgeny Grishanin drew attention to the activities of the FOS Council. He noted that all acts of the Council and other regulatory documents relating to the mandatory out-of-court dispute resolution procedure are available online on the FOS official website under the «Regulation» section. By the end of 2020, the FOS Council will have considered the size of the differentiated contribution rate for credit organisations, non-governmental pension funds, pawnshops and credit and consumer cooperatives. The relevant decision will also be made available on the FOS website.

A record of the event can be found here.

Presentation «Organisation of interaction with the Financial Ombudsman Service».