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Russian central bank to create regulatory environment for robo-advisors

Tuesday 16 April 2019 00:02 CET | News

The Central Bank of Russia has announced plans to create a regulatory environment for the operations of robo-advisors.

This project is a part of the central bank’s roadmap for the realisation of the main directions of the development of the financial market for 2019-2021. The Bank of Russia will have to describe and determine the status of robo-advisors and to provide users of such programs with all necessary protection.

Furthermore, the regulator aims to expand the opportunities for practical application of robo-advisors when making investment decisions. There will be a consultation paper about these issues, which is set to be published in 2019. The rest of the normative acts related to this matter are expected in 2021.


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Keywords: robo advisors, investment, Russia, banks, innovation, fintech, Central Bank of Russia
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Countries: World