To prevent cases of misleading or unethical advertising, new amendments to the law on advert placement will change the landscape of the Forex market in Belarus.
July 7, 2021, | AtoZ Markets – As expected, from tomorrow in the Republic of Belarus amendments to the Law "On Advertising" will come into force, which will affect, among other things, licensed representatives of the over-the-counter (OTC) Forex trading industry.
How Belarus New Advertising Rules Affect the Forex Market
Thus, from July 8, 2021, the Law of the Republic of Belarus dated May 10, 2007 No. 225-З "On Advertising" will be in effect as amended by the Law of the Republic of Belarus dated January 4, 2021 No. 82-3 "On Amendments to the Laws on Advertising Matters." Amendments to Law No. 82-3 "On Advertising" were adopted by the House of Representatives on December 10, 2020, and approved by the Council of the Republic on December 18.
Changes were also made to Article 22 "Advertising of securities and services related to the attraction, use of funds from organizations or citizens."
Starting from tomorrow, forex brokers (organizations that carry out transactions with non-deliverable over-the-counter financial instruments) are prohibited from using the words "deposit", "credit", "account", "trade" or derivatives from these words in advertising their activities, as well as related consulting services or training courses.
These measures are designed to prevent cases of misleading or unethical advertising.
In addition, advertising of activities involving transactions with non-deliverable OTC financial instruments (activities of forex companies), as well as related advisory services, educational programs, and training courses, must contain a warning notice about the risky nature of transactions with non-deliverable OTC financial instruments and inextricable connection between the possibility of making a profit with the risk of losses.
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