International legal regulation of control over the securities market
- Authors: Toria R.A.1,2, Hasanov N.A.3
-
Affiliations:
- Russian Presidential Academy of National Economy and Public Administration (RANEPA)
- Financial University under the Government of the Russian Federation Russia
- Audit company of the Big Four «KPMG»
- Issue: Vol 18, No 1 (2022)
- Pages: 30-35
- Section: Articles
- URL: https://journals.eco-vector.com/2541-8025/article/view/532033
- ID: 532033
Cite item
Open Access
Access granted
Abstract
This article considers issues of international legal regulation of control over the securities market. The securities market is currently growing rapidly. At the same time, the issue of the most effective performance of financial control by the state is being updated. Since the securities market is of a clearly expressed international nature, it seems necessary to unite the countries represented by their supervisory bodies in order to improve financial control on the part of the state. The purpose of this work is to disclose the role of international bodies in regulating control over the securities market. The subject of this study is international standards and principles established by international organizations governing the securities market. The authors have disclosed the role of the main international organizations in the area of regulation of control over the securities market. Particular attention was paid to IOSCO, its principles and standards. This article also analyzed the statistics of the Bank of Russia and the IMF report on the assessment of the Russian financial sector. This work systematized information on various international organizations and their regulatory acts.
Full Text
About the authors
Rita A. Toria
Russian Presidential Academy of National Economy and Public Administration (RANEPA); Financial University under the Government of the Russian Federation Russia
Email: rtoria@yandex.ru
Dr. Sci. (Law), Professor of the Department of State and Legal Disciplines; Professor of the Department of International and Public Law Moscow, Russian Federation
Nail A. Hasanov
Audit company of the Big Four «KPMG»
Email: gasanovnail999@gmail.com
Consultant of KPMG Tax and Legal Consulting Department Moscow, Russian Federation
References
- Chalmers, A.W. (2015), Financial industry mobilization and securities markets regulation in Europe. Eur J Polit Res, 54: 482-501. https://ezpro.fa.ru:2696/10.1111/1475-6765.12099.
- I.M. Williams. L. B. Spencer Jr. Regulation of international securities markets. Published by Penn Law: Legal Scholarship Repository, 2014 https://scholarship.law.upenn.edu/jil/vol4/iss1/3/.
- INTERNATIONAL FINANCIAL MARKETS AND REGULATION OF TRADING OF INTERNATIONAL EQUITIES // California Western International Law Journal, Vol. 19, No. 2 [2015], Art. 5 // URL: https://scholarlycommons.law.cwsl.edu/cwilj/vol19/iss2/5/.
- IOSCO «the Purposes and Principles of market regulation securities» June 2010 // URL: http://www.iosco.org/library/pubdocs/pdf/IOSCOPD323.pdf (date accessed: 16.10.2021).
- LaPorta, Rafael, Florencio Lopez-de-Silanes, and Andrei Shleifer, 2003, «What Works in Securities Law», NBER Working Paper 9882 (Cambridge, Massachusetts, National Bureau of Economic Research).
- Research Institute. Credit Suisse Global Investment Returns. Yearbook 2021 Summary Edition // Elroy Dimson, Paul Marsh, Mike Staunton // Credit Suisse // March 2021 // URL: http:// https://www.credit-suisse.com/media/assets/corporate/docs/about-us/research/publications/credit-suisse-global-investment-returns-yearbook-2021-summary-edition.pdf.
- The Bank of Russia. On the results of the Bank of Russia's procedures under the Russian Financial Sector Assessment Program (FSAP) // MONEY AND CREDIT // No. 8, 2016, p. 80.
- Ilyasov R.H., Kurazova D.A. Fundamentals of regulation of activity in the securities market of Russia // «MANAGEMENT. business. POWER» // 2016, pp. 111-118.
- Lukicheva E.A. Supervisory and statistical reporting of professional participants in the securities market. Accounting. Analysis. Audit. // Accounting. Analysis. Auditing.2021;8(5):83-91. doi: 10.26794/2408-93032021-8-4-83-91.
- Meshcheryakova O.M. Legal regulation of the financial sphere in the European Union and the formation of a single financial services market // International law. -2019. -№ 3. doi: 10.25136/26445514.2019.3.30177 URL: https://nbpublish.com 'Hbrary_read_article.php?id=30177.
- «The Moscow Exchange named the expected turnover of trading on the stock market for the year» // October 19, 2021, 15:11 // URL: http:// https://1prime.ru/Financial_market/20211019/834993714.html (date of application: 01.11.2021).
- N. N. Ryzhenkov. About the history of the formation and development of the stock market in Russia and the world / N. N. Ryzhenkov // Bulletin of the Voronezh State University. Series: Pravo // 2020 No.3, pp. 233-240 // DOI https://doi.org/10.17308/vsu.proc.law.2020.3/2989 /.
- Press release. On the results of the Bank of Russia's procedures under the Russian Financial Sector Assessment Program (FSAP) | Bank of Russia (cbr.ru) // URL: https://cbr.ru/press/PR /?file (accessed: 10/15/2021).
- Christmas T. E., Guznov A. G. The Value of internationally recognized standards of regulation and supervision in the financial market to the development of law in national jurisdictions // Christmas T. E., A. G. Guznov // law and government // 4 (73), 2016, pp. 54-59.
- Statistical review, 2020 from the Bank of Russia. -access mode to the collection // URL: http:stat_lic_2020.pdf (cbr.ru ) (accessed: 10/15/2021).
Supplementary files
