Russian Ministry of Finance Proposes Bookmakers to Advertise Pension Funds

The Russian Ministry of Finance has put forth a proposal that would mandate bookmakers to advertise pension funds, as reported by RB Business, citing an unpublished document. Additionally, bookmakers would be required to display information on their websites regarding the risks and potential consequences associated with engaging in gambling.

The primary objective of this proposal is to inform Russians about available financial instruments that enable them to 'save and increase' their funds, including a long-term savings program facilitated by non-state pension funds (NPFs).

Nikolai Oganezov, an advisor to the general director of the bookmaker company Fonbet, expressed concerns that the draft resolution might imply providing free advertising for NPFs. He highlighted that obligating bookmakers to disseminate information free of charge could potentially violate the legal framework for competition protection. Oganezov added, "I'm not sure that the subjects of the financial and investment markets themselves are close to this idea.

19 February 2024, 17:15

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