Parliamentarians also toughened penalties for microfinance organizations.
The Federation Council approved a law introducing fines of up to 1 million rubles for spam calls from robots and autoinformers, as well as tougher penalties for microfinance organizations for incomplete disclosure of loan terms.
The draft law supplements Article 14.3 of the Administrative Code of the Russian Federation (violation of the law on advertising) with a new section that introduces liability for non-compliance with the requirements of the legislation on advertising distributed over telecommunication networks, i.e. by telephone, fax and mobile communication. Current regulations allow advertising newsletters only with the prior consent of the subscriber or recipient. In addition, the use of telecommunication networks for automated distribution and dial-up is prohibited.
For violation of these requirements, fines are imposed: for individuals - from 10 to 20 thousand rubles, for officials - from 20 to 100 thousand rubles, for legal entities - from 300 thousand to 1 million rubles.
It also increases the responsibility of microfinance organizations for placing incomplete or misleading information about the terms of lending and loans in advertising. For officials, a fine of 40 to 100 thousand rubles is provided, and for legal entities - from 600 thousand to 1.6 million rubles.
The Law "On Advertising" now requires that advertising of credit services containing information on interest rates should also include information on the ranges of values of the total cost of consumer credit. Moreover, such information should be provided before the information on interest rates and in a font that is not less than the font with information on interest rates.
The Federation Council approved a law introducing fines of up to 1 million rubles for spam calls from robots and autoinformers, as well as tougher penalties for microfinance organizations for incomplete disclosure of loan terms.
The draft law supplements Article 14.3 of the Administrative Code of the Russian Federation (violation of the law on advertising) with a new section that introduces liability for non-compliance with the requirements of the legislation on advertising distributed over telecommunication networks, i.e. by telephone, fax and mobile communication. Current regulations allow advertising newsletters only with the prior consent of the subscriber or recipient. In addition, the use of telecommunication networks for automated distribution and dial-up is prohibited.
For violation of these requirements, fines are imposed: for individuals - from 10 to 20 thousand rubles, for officials - from 20 to 100 thousand rubles, for legal entities - from 300 thousand to 1 million rubles.
It also increases the responsibility of microfinance organizations for placing incomplete or misleading information about the terms of lending and loans in advertising. For officials, a fine of 40 to 100 thousand rubles is provided, and for legal entities - from 600 thousand to 1.6 million rubles.
The Law "On Advertising" now requires that advertising of credit services containing information on interest rates should also include information on the ranges of values of the total cost of consumer credit. Moreover, such information should be provided before the information on interest rates and in a font that is not less than the font with information on interest rates.
