The Central Bank approved the procedure for testing unqualified investors

The Bank of Russia has approved a new version of the basic standard for protecting the rights and interests of brokers' clients, which establishes the procedure for testing unqualified investors before transactions with complex financial instruments. The test questions are designed to help people assess their knowledge and the risks they take.

The testing rules were developed with the participation of the self-regulatory organizations and agreed by the Committee on Standards for Brokerage Activities at the Bank of Russia.

Testing will become mandatory from October 1, 2021.

Testing will not be required if the client has concluded at least one relevant agreement or made at least one such transaction before October 1, 2021. It is assumed that an investor with such experience has the necessary knowledge and can take on high risks.