The expert supported the change in the rules of brokers' interaction with clients

Kuznetsova: the broker's client should understand exactly what risks he is taking

Thu, 11/06/2025 - 01:51

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The updated basic standard of the Bank of Russia, which changes the way brokers work with clients, is not just a bureaucratic requirement, but a step towards the formation of a mature financial culture, where transparency and investor protection play a key role. This was stated by investment advisor, founder of the online university of Finance Yulia Kuznetsova in a conversation with Izvestia.

Important agreement: Russia tightens conditions for investments in critical assets

How will transactions with foreigners change and will this affect non-residents from friendly countries?

She noted that since November 7, brokers are required not only to warn clients about the risks of transactions, but also to document the fact of such information.

"Now, risk declarations are drawn up for each type of operation, from futures and margin transactions to foreign securities and auto insurance. The client must understand exactly what risks he is taking, and the broker must keep the confirmations for three years," the expert explains.

Kuznetsova clarified that the innovation will also be to strengthen control over conflicts of interest — the broker will be required to honestly report that he is promoting an affiliated instrument or receiving additional remuneration. In addition, the broker can no longer impose additional services or fees without full disclosure.

"All information about licenses, taxes, customer rights, and dispute resolution methods should be available 24/7 via the website or app," the editorial team's interlocutor points out.

However, Kuznetsova stressed the importance of the fact that the new standard protects not capital, but investor awareness. Warnings won't save you from losses if you don't know what you're investing in.

"Every investor should understand the essence of the instruments, the goals of their investments and the possible risks. The responsibility for the result lies not only with the broker, but also with the client himself. That is why financial literacy is becoming not an option, but a necessity," the expert is convinced.

She concluded that an investor needs to learn to understand the market and make decisions consciously, so as not to rely on the advice of interested intermediaries. Only in this case will the protection be truly effective.