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Russian antimonopoly watchdog suspects Yandex of illegal broker ads

14:58 01/07/2019

MOSCOW, July 1 (RAPSI) – The Moscow directorate of Russia’s Federal Antimonopoly Service (FAS) has opened a case against Yandex over advertisement of Instaforex broker company having no Central Bank’s license for financial operations, the watchdog’s statement reads.

Probe has been also launched into the advertiser, a person acting on behalf of Instaforex.

The case will be heard on July 3. The parties could face fines ranging from 100,000 to 500,000 rubles ($1,500 – 8,000), according to the statement.

Advertisement of goods requiring special permissions or licenses is banned. It was found that Instaforex did not have such a license and therefore violated the advertising law.

This is not the first case against Yandex. In June, the FAS fined it 100,000 rubles ($1,500) for inappropriate advertising of financial services of Tcompany Online Limited.

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Russian antimonopoly watchdog suspects Yandex of illegal broker ads

14:58 01/07/2019 The Moscow directorate of Russia’s Federal Antimonopoly Service (FAS) has opened a case against Yandex over advertisement of Instaforex broker company having no Central Bank’s license for financial operations.
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