MOSCOW, June 14. /TASS/. Private pensions funds will be obliged to identify conflicts of interests and manage them since January 1, 2025, according to the draft guidelines of the Bank of Russia posted on its website.
Funds may allow their occurrence only in case they do not breach rights of clients and that they are notified about the conflict of interests, the Central Bank said.
The document defines rules of detecting conflicts of interests and describe specific situations that may lead it. For example, this is when a private pension fund acquires securities of an affiliate or makes a non-arm’s length transaction. Funds will be obliged to keep records regarding conflicts of interests.