MINSK, 4 March (BelTA) – Belarus has drafted a revised version of the decree “On activities on the over-the-counter market”, Dmitry Nabzdorov, the head of the National Bank's department for non-banking operations, told reporters, BelTA has learned.
“The draft decree has been prepared and sent to the government bodies. If they give the go-ahead, the document will be submitted for scrutiny to the head of state this year,” Dmitry Nabzdorov said.
According to Dmitry Nabzdorov, the revised decree will obligate forex companies to record phone conversations between their employees and clients. “A forex company will provide records of phone conversations and messages with the clients in the event of disputes. If a forex company fails to provide such information, we will consider everything a client says to be true,” Dmitry Nabzdorov said.
It is a global practice, the same requirements are in place in the European Union (guideline MIFID 2), Dmitry Nabzdorov added.
The conference “Regulated Forex Market of Belarus: results of 2019, outlook for 2020” is held in Minsk on 4 March. The event is organized by the Financial Market Development Association of Belarus (ARFIN) and the National Bank of Belarus.
