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Testing investors: assessment of actual impact of regulation

19 December 2023

Non-qualified investors refuse to purchase complex financial products if they fail to pass the test on them. Thus, the testing helps prevent transactions whose risks and legal nature are not clear to investors. Accordingly, newcomers reduce their risk of losing money and maintain confidence in the financial market.

Such conclusions are contained in a draft report on the Bank of Russia’s study of the impact of regulatory standards.

In turn, brokers were able to quickly incorporate the testing into their business processes and organised client consultations. The main costs of market participants occurred in the first year after the implementation of the procedure.

The findings include the regulator’s recommendations on how to improve the efficiency of the testing.

The Bank of Russia welcomes proposals and comments to the report through 29 December 2023.

Фото: Gorodenkoff / Shutterstock / Fotodom
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