The Central Bank of Russia has published key principles of good conduct for the financial market, positioning them as a means to strengthen business and ethical standards, foster confidence, and protect consumers’ interests. The principles are presented as a set of rules for market participants, based on a previously developed draft Code of Good Conduct. The updated Code is structured around eight pillars: good faith, justice, transparency, care, security, professionalism, responsibility, and integrity. The principles are advisory and may be adopted in full or in part within the standards and codes of self-regulatory organisations and professional associations, and used as a basis for financial institutions’ corporate culture. Market participants may also state their adherence on their websites or other resources, while the Bank of Russia’s methodological recommendations are intended to support the development of internal control systems and the detection and prevention of misconduct or illegal conduct in the financial market.
Central Bank of Russia 2025-02-12
Central Bank of Russia issues advisory principles of good conduct for financial market participants
The Central Bank of Russia released principles to enhance business standards, boost confidence, and protect consumers. Based on a draft Code of Good Conduct, these cover eight pillars like transparency and integrity, and can be adopted by self-regulatory organizations and financial institutions. The Bank provides recommendations to aid in developing internal controls and preventing misconduct.