FC “Toloka”: the NSSMC meets with investors and continues its activity

The NSSMC has met with investors of LLC “FC “Toloka”, as the NSSMC constantly defends its rights and interests. The Regulator will continue to insist on the necessity of fulfilling the obligations of financial company towards all investors. The license of FC “Toloka” remains suspended.

“Unfortunately, the NSSMC keeps receiving complaints from investors of the infamous company. The Regulator, for its part, systematically protects the rights and interests of investors, while FC “Toloka” systematically violates such rights and, therefore, the legislation. We are confident that the company must necessarily fulfill all the terms of agreements with investors,” Arsen Ilin, the Commissioner, says.

According to Mr. IIin, the NSSMC has still no opportunity to conduct a full-fledged audit and has no access to the documents of the financial company. So in order to prevent further increase in the number of affected depositors, the company’s license remains suspended.

 “The most important thing for the Regulator is to ensure the existing obligations of FC “Toloka” towards investors and to prevent possible difficulties,” the Commissioner summarized.

The Regulator decided to stop the validity of the license for property management activity on financing construction projects and/or making real estate transactions of FC “Toloka” on June 17 of this year. The Commissioners made a repeated Resolution on December 7, 2021.