Compulsory financial ombudsman under the regulator’s umbrella: Testing a new model of dispute settlement

In post-Soviet countries, the courts are not always effective in resolving consumer disputes. I compare models of organizing work financial ombudsmen Russia, Kazakhstan, Azerbaijan and Armenia, as well plans for its implementation Kyrgyzstan Belarus. Models compulsory mediation a number European jurisdictions also analyzed. some countries there is tendency towards an increase influence regulator on ombudsmen. The reform Russian ombudsman first attempt at introducing new model markets. It will be mandatory stage initiation lawsuit civil court. unique, differing both from established Union (centralized, decentralized, professional association), implemented other countries. essentially combination Italian basis coercion before dispute considered by court, English vertical system headed sole chairman who de facto appointed services regulator, while membership this institutions that provide regulated generally mandatory. Whether under Central Bank ‘umbrella’ manifest itself positively or negatively determine possibility extending scheme to categories disputes markets such housing construction repair, utilities, telecommunications with many small medium claims. Furthermore, since continue rely experience, may expansion umbrella regulators well.