Central Bank recommended banks to change the system of premiums for employees

This should apply as working directly with clients employees and top managers, responsible for advertising and marketing.

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“the Bank of Russia recommends to take into account in addition to quantitative indicators related to the volume of sales of financial instruments and services, ways to achieve these indicators”, – stated in the information letter signed by the head of the Central Bank Elvira Nabiullina.

Recommendations prepared in connection with the identification by the Bank of Russia of unfair practices, when financial institutions are misleading citizens by providing incomplete and inaccurate information about the various tools and services, as well as related risks, stated in the letter. Often this is due to the material stimulation of the employees to increase the number of sales.

In the letter, it is recommended to prepare the standards suggest and implement financial instruments and services.

“We plan to discuss with lawmakers the issue of vesting the Bank of Russia the right to establish rules of sales that meet the objectives of the counter-misselling, the imposition of the VAS and concealment of information,” – said Elvira Nabiullina in February at a meeting with bankers.