MOSCOW, April 11 - RAPSI. The Federal Service for Financial Markets has warned the public about investing in pyramid schemes.

The regulator noted that the organizers of pyramid schemes choose entity forms and products that are not regulated, licensed or supervised by the Central Bank, Finance Ministry or the service.

"Currently, there is no legal definition for a pyramid scheme," the watchdog said.

The service has been receiving an increasing number of complaints from the public about pyramid schemes since 2009. Such complaints are forwarded to the presidential administration, the government and the Federal Assembly.

In the first quarter of this year, 14 complaints about the infamous MMM enterprise alone have been accepted, which is equal to the total number of complaints last year, the regulator said.