On October, 4th, 2013, a roundtable “Alternative dispute resolution in financial sector” was held. The event was organized by the World Bank and International Financial Corporation. Alexey Ivanov, Konnov & Sozanovsky managing partner, attorney, mediator, took part in the roundtable.
Participants discussed alternative dispute resolution mechanisms and the necessity to create the institute of financial ombudsman.
- Out-of-court mechanisms of solving disputes are actively used on the financial markets of 40 countries and are effective. In our country, these mechanisms are on a stage of development and need special attention to make financial sector healthier. To achieve this goal a mechanism of financial ombudsman has to be introduced, and mediation practices in dispute solving should be used wider, Alexey Ivanov considers.