Legal Aspects of Consumer Protection of Financial Services Within the EAEU

Formation of a common financial market is one of the key goals of the Eurasian Economic Union. Harmonization of protecting the rights and legitimate interests of consumers of financial services is an integral part of this process. The paper provides a comparative legal analysis of the legislation of the EAEU member states in three groups of services: banking, securities market and insurance. At first glance, it seems similar in regulating, however, a deeper analysis reveals differences that are important to eliminate when creating a common financial market. A number of states do not have an institution of a financial ombudsman, while the Republic of Kazakhstan and the Russian Federation have the most variable system of pre-trial protection of rights. To what extent are the legal and institutional frameworks for protecting the rights of consumers of financial services of the EAEU member states ready for the goals and objectives of the common financial market — these are the questions that the author tries to answer based on the results of the comparative legal analysis.