The Bank of Russia and the National Financial Association (NFA) have launched a register of financial analysts, which will include verified experts in this field, representatives of the regulator and the NFA said during a press conference.
“Initially, the task was to draw a line of trust between conscientious financial analytics and the fact that in essence does not belong to financial analytics,” explained Valery Lyakh, director of the department for countering unfair practices of the Central Bank.
The reason for the creation of such a register was the agiotage interest of the population in the stock market. According to a representative of the regulator, against the background of this, there was an increase in the volume of pseudo-analytics, which a non-professional cannot always recognize as incorrect.
The register is already available on the NFA website, but no one has been added there yet. To be listed, an examiner must adhere to a financial analyst’s code of ethics. This document was developed according to the standards of the CFA Institute, according to which, according to Lyakh, “the whole world lives.” In addition, the analyst fills out a questionnaire, where he provides his personal data, indicates the place of work, education and publications.
Lyakh clarified that the register was created to a greater extent for independent experts, and not for those who belong to any audited financial institution. The “defining feature” here is the publicity of the outside analyst. This openness is expected to help build confidence in the financial market.
“If an analyst or a group of analysts does not have a name and they subscribe simply as a Telegram channel, therefore, the confidence in their information or conclusions should be low,” Lyakh said.
After submitting an application for inclusion in the register, the commission will check where the candidate was mentioned and how it complies with the code of ethics. In addition, within 10 days, other financial market participants will be able to transmit information to the NFA, on the basis of which the expert may be refused inclusion in the list. If there are no problems, the analyst will be included in the registry.
Entering and leaving this list is voluntary. At the same time, an expert can be excluded from the register if the code is violated. However, if the analyst corrects himself, he has the right to re-apply and re-enter the list, said Olga Kryuchkova, First Vice President of the SRO NFA.
.