A special recording procedure for certain securities will be in effect until the end of 2025
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18.01.2021
FROM JANUARY 1, 2021 THE FINANCIAL OMBUDSMAN CONSIDERS PRE-TRIAL DISPUTES OF CONSUMERS WITH CREDIT INSTITUTIONS AND NON-GOVERNMENTAL PENSION FUNDS
Starting from that date, credit institutions, credit consumer cooperatives, pawnshops and non-governmental pension funds shall arrange interaction with the Financial Ombudsman. As a general rule, consumers, prior to filing a claim against such financial institutions for an amount not exceeding 500,000 roubles, shall now first apply to the Financial Ombudsman for a dispute resolution.
Consumers’ appeals shall be considered by the Financial Ombudsman on a free of charge in absentia. In case of disagreement with his decision, a consumer may submit the claim to the court. For financial institutions, Ombudsman’s decisions are binding and may be enforced (through the bailiff service).
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