Round table discussion “Protection of consumer rights-users of services in the forex market”

31 August 2017

August 24 in Moscow, a round table “Protection of consumer rights-users of services in the forex market”, organized by SRO “Association of Forex-dealers.”

Participants of the event discussed the expected adoption of a law that will give the Bank of Russia authority to block Internet resources of forex companies that do not have a license.

Recall that the mandatory condition for the official activity in the market of “regulated” forex dealers is the availability of a license of the CBR and membership in a profile self-regulatory organization (today only the Association of forex dealers acts in this capacity). At the moment, law-abiding companies are numerically still much inferior to those who have not adopted regulatory innovations. According to the AFD, the ratio is about 10 to 200. The latter include foreign, offshore forex companies that serve Russian clients, domestic companies that have not received a license from the Central Bank, and frank fraudulent structures.


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