The Central Bank of Russia issued an information letter clarifying that units in unit investment funds reserved for qualified investors must not be offered to non-qualified investors. Information intended to attract or maintain interest in those funds or their units must also be withheld from non-qualified investors, including fund names, returns, trading procedures and purchase benefits. The restrictions cover every method and channel of communication, including calls, websites, links and QR codes, reinforcing the regulator’s earlier focus on restricting online access to information about complex products. The central bank recommends applying the same approach to other securities and derivatives intended for qualified investors to reduce the risk that investors pursue instruments unsuitable for their experience and knowledge.
2026-09-16Central Bank of Russia
Central Bank of Russia clarifies restrictions on marketing qualified investor funds to non-qualified investors
The Central Bank of Russia clarified that qualified investor-only fund units and promotional information about them must not be offered or disseminated to non-qualified investors through any channel. It recommends the same approach for other securities and derivatives reserved for qualified investors.