The FOS Council approves contribution rate for financial institutions


At its meeting on Friday, December 18, the Financial Ombudsman Service Council approved contribution rates for credit organizations, non-governmental pension funds (NPF), pawnshops, credit consumer cooperatives (CCC) as well as revised the contribution rate for microfinance institutions.

Starting from 1 January 2021 the Federal Law «On the Ombudsman for the Rights of Consumers of Financial Services» shall be applied to credit organizations, NPFs, pawnshops and CCCs. In particular, starting from this date the Financial Ombudsman Service will start considering complaints and appeals from consumers of financial services in respect of the listed financial institutions on a mandatory out-of-court dispute resolution basis.

In accordance with the Federal Law «On the Ombudsman for the Rights of Consumers of Financial Services», financial institutions interacting with the Financial Ombudsman Service are obliged to pay fees to support the FOS activities.

A single contribution rate for microfinance institutions, credit organizations, non-state pension funds, pawnshops and credit consumer cooperatives was approved by the FOS Council, which amounts to RUB 18,600. In accordance with Article 11 of the Federal Law «On the Ombudsman for the Rights of Consumers of Financial Services», the rate is differentiated depending on the outcome of the case reviewed by a financial ombudsman. Thus, if the Financial Ombudsman makes a decision to satisfy partially or fully the consumer’s claim, the rate is RUB 27,900, and if the decision is made to deny the consumer’s claim, the rate is RUB 9300.

If the Financial Ombudsman terminates the case due to the consumer’s application to waive the claimed appeal due to the dispute settlement between the parties by entering into an agreement, or if the financial institution voluntarily fulfils the consumer’s claims, the fee rate is RUB 9300.

The fee rate for insurance organisations has not changed, but the decision of the FOS Council dated 18.12.2020 provides that when determining the fee, separate decisions of the financial ombudsman on rejection of the consumer’s claims and on termination of the appeal will also be taken into account. Similar rules have been established for all financial institutions interacting with the Financial Ombudsman Service.

At the same time with determining the contribution rates for financial institutions, the FOS Council also approved the Procedure for calculating the amount of contributions to be made by a financial institution to the fund for financing the FOS activities.

The decision of the Financial Ombudsman Service Council on the amount of the differentiated contribution rate of financial institutions will be published on the FOS website in the «Regulation» section.

The FOS Council at its meeting on December 18, based on the results of an open tender held by the FOS Office Support Service determined the «Audit and Consulting Group» Joint Stock Company   («A&C» JSC) as the auditor performing audit of the accounting (financial) statements of the FOS Office Support Service for 2020, and also audit of the use of the fund for financing the FOS activities for the year 2020.