Some Russian brokers have begun to take tests for inexperienced investors, taking advantage of the fact that they themselves conduct testing. This is reported by the Association for the Development of Financial Literacy (ARFG).

The company monitored the observance by brokers of the basic standard for protecting the rights and interests of unqualified investors. Most of the inspections of large brokers turned out to be positive, however, some did not give investors the opportunity to be tested at the company's office. To pass it, it was proposed to create a personal account and go through it there.

“Most of the identified bad practices are related to the desire of company employees to help the client master the test,” the AFRG release notes.

So, some employees suggested using online cheat sheets, “highlighting” incorrect answers and displaying the correct answers on the screen for study before the second attempt, and other tricks. However, most brokers still comply with the standard of protecting the rights and interests of unqualified investors, so they are conscientious about conducting tests.

In early June, the Federation Council approved a law that gives the Central Bank the right to restrict the sale of complex financial products to unqualified investors if incomplete or false information is provided on them.

bbabo.Net