
MOSCOW, Dec 25 – PRIME. From January 1, Russian brokers will disclose additional information to inexperienced clients making transactions, the Bank of Russia said. Sberbank will cancel sales of complex products to unqualified investors “From January 1, 2021, according to the law on the securities market, brokers, before executing a client’s order, an unqualified investor will have to to disclose to him additional information about the transaction. How exactly this should be done is spelled out in the basic standard of transactions by a broker, a new edition of which was approved by the Bank of Russia, “it says. Thus, market participants are obliged to report the prices for the purchase and sale of securities or derivative financial instruments, the broker’s remuneration, and other expenses – in particular, the commissions of the clearing organization and the exchange. And if this information is in several sources (for example, the price of one security on different exchanges), then the broker must choose one to present the data to the client, acting “as reasonably and conscientiously as possible”, it is indicated there. “The broker may not provide information again. on prices, if he is simultaneously an investment advisor and has already given this data to the client as part of an individual investment recommendation. The standard also considers other cases when a broker may not disclose such data before each transaction, if this is impossible for reasons beyond the broker’s control “, added in the message. Nabiullina urged to prohibit banks from “selling” unnecessary products Also, according to the law, if the broker has not fulfilled the obligation to disclose information and because of this the client received a loss, the “victim” may demand compensation through the court, the regulator draws attention. The message also describes the current situation – now brokers are not required to disclose to the client information about bid and ask prices before each transaction. At the same time, many brokers in relation to exchange securities do this voluntarily – as a rule, through applications or trading terminals. And brokers inform about tariffs, commissions and expenses when concluding an agreement with a client.