A new law to counteract financial pyramids was discussed at a meeting of the Association of Franchise and Partnership Programs (Frappe).
Combating the activities of financial pyramids is a relevant topic for ordinary people, potential investors who may lose their income at any moment, as well as for businesses, especially those engaged in network marketing.
The lack of regulatory control over the field of network marketing allows financial pyramids to successfully masquerade under its guise, creating serious reputational difficulties for honest entrepreneurs.
An online meeting dedicated to this issue was organized by the Franchise and Partnership Programs Development Association (Frappe) and took place on March 5th in an online format.
The discussion involved the co-founder and CEO of the IT company RC Group, Maria Mikhailova, GR Director of RC Group, Nikita Dontsov, co-founder of DI CLINIC MOSCOW, Ilya Fridman, GORUS Chief Editor Ilya Turmanidze, Head of the Expert Analytical Service of Frappe, Alexander Kvashnin, General Director of Insight Electronics LLC, Sergei Gribanov, Deputy General Director and Head of the Marketing and Advertising Department of the company “Taxcom,” Yegor Glukhov, and representatives of other participating organizations.
Currently, the State Duma is conducting legal expertise on the draft law “On Partnership Programs in the Russian Federation.” Its adoption will establish the concept of partnership business and partnership programs, allowing the market to cleanse itself of scammers.
Anyone can participate in developing measures to combat pyramids in the Russian partnership program market. Frappe invites interested activists, entrepreneurs, and industry professionals to join forces in this collaborative effort.
Only joint efforts will create an environment so uncomfortable for dishonest players that engaging in fraudulent activities becomes dangerous, unprofitable, and ultimately impossible.