The draft law on the regulation of financial advisers introduced in the state Duma

The draft law on the regulation of financial advisers introduced in the state Duma


Financial counseling, according to the bill, is allocated in a separate activity, which can realize only those who have appropriate licenses, permits, accreditation, or is included in the register or members of the relevant SRO.

MOSCOW, 13 Nov. A group of senators submitted to the state Duma the bill which provides for the regulation of financial advisers, according to the database of the lower house of Parliament.

As a form of regulation of financial advisers the bill provides for “self-regulation through compulsory membership in self-regulatory organization (SRO) this type of activity”, explain the designers of the document.

Financial advising is highlighted in a separate activity, which can realize only those who have appropriate licenses, permits, accreditation, or is included in the register or members of the relevant SRO. As a financial consultant the financial consulting agreements may enter into commercial organizations or individual entrepreneurs.