Savings Bank, who sold to its customers preddefoltnye paper received from the Federal Financial Markets Service a determination to eliminate the consequences of breaking the law “On securities market”. Experts say that the problem of conflict of interest between the broker and the client must be addressed comprehensively at the legislative level.
As the RBC daily, the Federal Financial Markets Service has issued an order to eliminate Sberbank consequences of violations of securities laws. Before this office has reviewed the brokerage for the sale of natural persons Savings bonds of companies “Sevkabel Finance” ו - “Globus-Leasing-Finance.” Federal Financial Markets Service has determined that a credit institution in the commission of these transactions has acted “in a conflict of interest” between the property interests of the Savings Bank as a professional participants and their customers – buyers of bonds.
Testing began after the affected זהבors have written several complaints to the collective government, which had been forwarded to the Federal Financial Markets Service. The complaints reported that the Savings Bank was a large package of “junk” bonds and the bank dropped their unqualified clients, because he knew about the situation preddefoltnom companies (see RBC daily from 02.04.12).
lawyer Dmitry Klimchuk, dealing with disputes “Sevkabel” and other issuers that defaulted, said that the decision of the FCSM (Federal Financial Markets Service predecessor. – RBC יומי) של 1998 established that a conflict of interest should be given priority to the client, rather than self-interest professional participants. If you violate this rule by law “On securities market” broker is a personal civil liability to the client. “Prescription Federal Financial Markets Service, issued by the Savings Bank must change the situation around” Sevkabel Finance “ו -” Globus-Leasing-Finance. ” אולם, it is not complicated jurisprudence to resolve disputes when a conflict of interest, bondholders will continue to be difficult to assert their rights and receive compensation for losses caused by “- says Dmitri Klimchuk. He notes also that, given the state of the Savings Bank, it is unrealistic to imagine that it would deprive the Federal Financial Markets Service license or limit his work in the securities market and, hence, further violations may continue.
Partner of law firm “right line” Andrew Nowakowski said that in his FFMS regulations may require cessation of the breach of legislation or the adoption of measures aimed at preventing crime in the future. אולם, in his opinion, the requirement of Federal Financial Markets Service of the “elimination of the consequences of the offense” is not quite clear.
Finpotrebsoyuza Chairman of the Board, the former head of FCS Igor Kostikov said that the issue of conflict of interest is still poorly resolved in Russia. לדבריו, in this case is a violation of the client’s interests and moral standards, but violations of the law no. “We need a comprehensive solution to the problem, as the Savings Bank – this is not an isolated case. Financial institutions are often blamed poor-quality assets are not in the interests of customers “, – adds Igor Kostikov.
Sberbank RBC daily the question about whether he will perform the service requirement, the answer decided to abstain. In the Federal Financial Markets Service for comment failed.
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