Banks should inform investors about specifics and risks of LSP and ULLI: new requirements
14 ноября 2024 года
Новости
From 1 April 2025, banks acting as agents of non-governmental pension funds and insurance companies will be obliged to prepare new key information documents (KIDs) relating to the long-term savings programme (LSP) and unit-linked life insurance (ULLI). This requirement is set out in the Bank of Russia Ordinance.
When signing agreements, banks should inform their customers about the conditions and risks of these financial products.
The Ordinance points out that agents are obliged to make sure that customers have read the KID even if such a document was provided in electronic form.
Preview photo: SmartPhotoLab / Shutterstock / Fotodom