Non-governmental pension funds will be required to identify and manage conflicts of interest. The relevant instruction of the regulator, which was registered by the Ministry of Justice, comes into force on February 21, 2025, the Central Bank said in a statement.
NPFs will be able to allow a conflict to arise only if they have notified their clients about it and their rights are not violated.
The instruction defines the rules for identifying conflicts of interest, as well as describes specific situations that may lead to this.
The requirements for NPFs are similar to approaches to regulating conflicts of interest between professional participants and management companies and are aimed at strengthening the protection of the rights and legitimate interests of the funds' clients.
