YEREVAN HOSTS A WORKSHOP TO RAISE AWARENESS ABOUT CONSUMER PROTECTION IN THE CAPITAL MARKET

PanARMENIAN.Net
03.09.2009 21:47 GMT+04:00

/PanARMENIAN.Net/ On September 3, 2009, NASDAQ OMX Armenia jointly
with the Office of the Armenian Financial System Mediator organized
a workshop on a range of topics related to the Financial System
Mediator’s activities in respect of the delivery of investment services
in Armenia. The workshop was attended by more than 30 participants
representing exchange member investment companies and banks, the
Central Bank of Armenia, as well as media.

The workshop opened with welcome addresses from Mr. Karen Zakaryan,
Deputy Chief Executive Officer, NASDAQ OMX Armenia, and Ms. Piruz
Sargsyan, Financial System Mediator. Both speakers pointed out the
important role that this independent institution, established by the
Central Bank of Armenia has to play in protecting consumer rights
in the capital market and enhancing the confidence of individual
investors towards the Armenian financial system in general.

"This workshop is a part of workshop series organized in order to raise
awareness about consumer protection in the capital market. Currently
workshops are being conducted in Armenia’s regions, with the first
one held in Lori," Ms. Piruz Sargsyan stated.

Presentations delivered during the workshop comprised a general
overview of the activities of the Armenian financial system mediator’s
Office, including procedures for filing, reviewing, and resolving
claims from individuals, as well as an insight in the international
practices of resolving disputes between investment service providers
and their customers. Case studies pinpointing common problem areas
related to investment and brokerage activities worldwide (such as
investment companies failing to act in the best interests of the
client, violating of fiduciary obligations, failing to exercise duty
of care, etc.) were presented and analyzed. The workshop concluded
with a questions and answers session.