The Legal Nature of the Institution of the Commissioner for the Rights of Consumers of Financial Services

Abstract

Relevance. In 2018, the Institute of the Commissioner for Consumer Rights of Financial Services was established in the Russian Federation. The number of financial services provided to consumers is undoubtedly growing, and the number of cases of violation of citizens' rights by financial market organizations is also increasing. The Financial Commissioner is established to protect the rights of consumers, he considers disputes between consumers of financial services and financial organizations. The importance of the institution of the Commissioner for the Rights of Consumers of Financial services is increasing, which can be seen in the increase in the number of incoming appeals. However, studies of the legal nature of the institute have not been adequately reflected in legal science, which determines the relevance of this research topic.The purpose is to determine the legal nature of the institution of the Commissioner for the Rights of Consumers of Financial Services in the Russian Federation.Objectives: based on the analysis of the regulatory legal framework and scientific literature to determine the main activities of the Institute of financial Ombudsman to establish the essence of its legal nature.Methodology. In the course of the work, the methods of theoretical research (analysis and synthesis, induction and deduction, mental modeling), as well as the statistical method were used.Results. In the course of the study, the author proposed an understanding of the legal nature of the institution of the financial commissioner as a complex legal phenomenon, including human rights and quasi-judicial legal components.Conclusions. According to the results of the study, conclusions are drawn that the key areas of activity of the Institute of Financial Commissioner are the protection of the rights of consumers of financial services and dispute resolution. The Commissioner for the Rights of Consumers of Financial Services is a human rights body that embodies the guarantee of the state for the protection and observance of the rights and interests of consumers by financial organizations. The Financial Commissioner acts as a judge in the dispute, upon the outcome of the consideration of the case, makes a binding decision aimed at resolving the dispute, restoring justice and based on regulatory legal acts.