Evaluation Quality of Consumer Protection by Financial Markets Services

Abstract

It is known that the concept of consumer protection is complex, that is, it consists of various component elements (indicators), which have a qualitative nature. All this complicates the process of assessing the quality of consumer protection and prevents the definition of it because it is very difficult to collect the necessary statistical information. The problem of managing financial consumer protection has become particularly relevant just after the 2008-2009 crisis. The purpose of the article is to analyze the main directions of normative provision namely financial consumer protection in the world by the example of implementation of various kinds of official documents and decisions, both at the level of the individual state and internationally. Based on the key principles of the World Bank and open source information from the Financial Access 2010 database, an article has developed an algorithm for evaluating the quality of consumer protection by financial markets services on an example of different countries of the world.