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Peru : Diagnostic Review of Consumer Protection and Financial LiteracyThe diagnostic review for consumer
 protection and financial literacy (CPFL) provides a detailed
 assessment of the institutional, legal, and regulatory
 framework for consumer protection in four segments of the
 financial. A World Bank (WB) mission visited Peru from March
 18 to 27, 2013 to prepare the review. The objectives of the
 CPFL review were: (i) to assess the existing consumer
 protection and financial literacy framework by reviewing
 laws, regulations, and practices in Peru compared to
 international good practices; and (ii) to provide
 recommendations on ways to improve the level of financial
 consumer protection and financial literacy in Peru. It seeks
 to identify key measures in strengthening financial consumer
 protection, with the ultimate aim of increasing the
 availability and transparency of financial information,
 helping build consumers' trust in the financial sector,
 and expanding their capacity to wisely use financial
 services. The review addresses the following issues: (1)
 institutional arrangements, (2) legal and regulatory
 framework, (3) disclosure, (4) business practices, (5)
 dispute resolution mechanisms, and (6) financial education.
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Armenia : Diagnostic Review of Consumer Protection and Financial Literacy, Volume 1. Key Findings and RecommendationsThe objectives of the diagnostic review
 of consumer protection and financial literacy for Armenia
 are: (i) to assess the existing financial consumer
 protection framework, by reviewing laws, regulations and
 practices in Armenia compared to international good
 practices; and (ii) to provide recommendations on ways to
 improve consumer protection and financial literacy in
 Armenia. The review provides a detailed assessment of the
 institutional, legal and regulatory framework in four
 financial segments, namely banking, non-bank credit
 institutions, securities, and insurance. Many key steps have
 already been taken in financial consumer protection,
 especially at the regulatory and institutional levels.
 Regarding the institutional framework, adequate resources
 need to be allocated to the consumer protection team and
 modern supervisory tools should be made available. Consumer
 organizations should be strengthened and motivated to assist
 the Central Bank of Armenia (CBA) in market monitoring. In
 terms of consumer disclosure, the CBA should issue
 regulations that require financial institutions to provide
 clear, understandable, timely, comparable and standardized
 information to consumers. In the area of regulation of
 business practices, the CBA should require that sales agents
 are well trained and should test them regularly. All
 financial institutions should regularly analyze the
 complaints received and the analysis should be provided to
 the CBA. The Steering Committee for the National Strategy of
 Financial Education should become the key body to manage
 financial education in Armenia.
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Czech Republic : Technical Note on Consumer Protection in Financial ServicesThis Technical Note has been prepared by
 the World Bank at the request of the Ministry of Finance of
 the Czech Republic and is the first in a pilot series of
 financial consumer protection assessments focus on consumer
 protection in several parts of the financial sector
 including banking, consumer finance, insurance, private
 pensions and collective investment funds. The assessments
 attempt to identify key components of strong consumer
 protection in financial services and stimulate debate on
 what reforms may be needed.