scholarly journals THE DEVELOPMENT OF THE REGULATION OF REPO TRANSACTIONS AND THEIR SIGNIFICANCE IN THE DEVELOPMENT OF MARKET ECONOMY IN UZBEKISTAN

2017 ◽  
pp. 0-0
Author(s):  
Мардонбек Бобожонов ◽  
Mardonbek Bobozhonov
Keyword(s):  
Present Article ◽  
Market Economy ◽  
Financial Market ◽  
Legal Framework ◽  
Legal Regulation ◽  
Securities Market ◽  
Stock Exchanges ◽  
Positive Trend

The present article examines the formation of the financial market of Uzbekistan. The development of a market economy helped to raise the profile and priority of civil relations. As one of the means of civil relations the repo transaction is a new and rapidly developing form of transactions in Uzbekistan. Author considers the development of the legal bases of the securities market and its individual institutions, in particular the Institute of repo transactions. Based on the analysis, the author highlights the specificity of repo transactions’ legal regulation in a market economy. The author concludes that the repo market has a positive trend, and gradually expands in the country’s financial market. Year after year, the importance of this transaction increases, and it is possible to determine that by the percentage of the amounts of total repo transactions on stock exchanges. The legal framework, governing the transactions in this category at the legislative level is sufficiently established.

scholarly journals Cuestiones actuales del régimen jurídico-administrativo de las Cajas de ahorros españolas

2005 ◽  
pp. 31
Author(s):  
Ana Belén Casares Marcos
Keyword(s):  
Corporate Governance ◽  
Market Economy ◽  
Financial Market ◽  
Financial System ◽  
Legal Framework ◽  
Market Reform ◽  
Credit Institution ◽  
Savings Banks ◽  
Legal Situation ◽  
And Performance

Las reformas legislativas que han afectado en los últimos tiempos a la organización y el funcionamiento del sistema financiero español han tenido una especial repercusión en el ámbito de las cajas de ahorros. La tramitación parlamentaria de la Ley 44/2002, de 22 de noviembre, de Medidas de Reforma del Sistema Fianciero, reavivó el debate sobre su régimen jurídico y la necesidad de acotar la intervención pública en su seno. Ahonda en ello la Ley 26/2003 , de 17 de julio, de Transparencia, que extiende al ámbito de las cajas la preocupación por el corporate governance. Ambas normas responden a la necesidad de dar respuesta a algunos de los problemas más inmediatos a que se enfrentan estas entidades, si bien adolecen de un defecto fundamental por cuanto no abordan de forma exhaustiva la regulación de la institución. Se perpetúa así la trayectoria tradicional de "parcheo" del régimen jurídico aplicable a las mismas, evitando entrar en la cuestión esencial de la definición de su naturaleza jurídica y abocando a las cajas, en consecuencia, al díficil reto de acompasar su vocación social tradicional a las nuevas exigencias legales en pro de una mayor eficiencia, racionalidad y neutralidad de su acitividad económica.<br /><br />Recent legal changes pertaining to the organization and performance of the Spanish financial system have had significant repercussions on the savings banks sector. The law on financial market reform passed in 2002, Ley Financiera, raised once again the debate on their legal situation and the urge to cut down public influence on their management. The 2003 Transparency Law, Ley de Transparencia, follows this reform and extends corporate governance to Spanish savings banks. Both Laws seek to confront some of the most important issues raised by these credit institutions, but they also share the flaw of not regulating its legal framework and status completely. They continue, therefore, to add "patches" to the savings banks legislation, challenging these institutions to combine its function as a credit institution in a market economy and its position as a social foundation

Islamic Insurance: National Features and Legal Regulation

2007 ◽  
Vol 21 (3) ◽  
pp. 251-268
Author(s):  
Renat Bekkin
Keyword(s):  
Financial Market ◽  
Legal Framework ◽  
Legal Regulation ◽  
The Third ◽  
Islamic Insurance ◽  
Muslim Scholars

The present paper studies Islamic insurance ( takaful ) as opposed to conventional one. The first part of the paper covers, among other things, such issues as the nature and historic roots of Islamic insurance and early forms of Islamic insurance and it narrates the disputes among Muslim scholars concerning the compatibility of insurance with Islamic Shariah. The second part deals with the history and emergence of Islamic insurance in the modern financial market, as well as the practice of Islamic insurance in different countries. The third part discusses the feasibility of Islamic insurance in Russia in the current legal framework. The paper contains a comprehensive glossary of related terms.

scholarly journals Integration of Ukraine into European Union securities market

2021 ◽  
Vol 69 (2) ◽  
pp. 168-178
Author(s):  
M. Savchenko
Keyword(s):  
European Union ◽  
Stock Market ◽  
Stock Markets ◽  
Rapid Development ◽  
Legal Regulation ◽  
Securities Market ◽  
Stock Exchanges ◽  
The European Union ◽  
Eu Countries ◽  
The Eu

The paper deals with the main parameters of the Ukrainian securities market at the current stage, identifies its functioning problems, gives a set of measures for the effective implementation of Ukraine's desire to integrate the national stock market into the European Union. Compared with the stock markets of the EU countries, the domestic securities market is underdeveloped, poorly regulated and illiquid, therefore there is the need to develop it and implement the European legislative initiatives. The paper covers the basic laws in the field of legal regulation of the Ukrainian and EU securities market. The investigation includes the results of the research of the current experience in leading European countries in terms of capitalization of the largest stock exchanges in Europe. The classification of 5 largest European stock exchanges is given and the influence of COVID-19 virus on their activity is analyzed. The main trends in the field of securities investment market of the largest stock exchanges in Europe and Ukraine are led. While examining statistical data concerning the capitalization of European stock exchanges in comparison with the PFTS of Ukraine in 2019, the LSE (London Stock Exchange) ranks 1st with €3.86 bn., 2nd place is taken by Euronext – €3.4 bn., 3rd place by Deutsche Börse having capitalization volume at the level of €1.9 bn., and PFTS Ukraine – €0.17 bn., which indicates that Ukrainian securities market is insufficiently elaborated. Nowadays, the Ukrainian securities market repeats European historical development trends, and at this stage it largely depends on the directions of development that international stock markets can take. Changes in European securities markets are extremely rapid and require competent response from regulatory structures. The rapid development of the European stock market, accompanied by the emergence of advanced technologies in the field of securities and new financial instruments, make it necessary to monitor all the changes and innovations that happen in the Ukrainian securities market in order to develop more effective recommendations for improving its functioning and regulation. In addition, integration with the European Union requires deeper and more radical reforms of the domestic state administration, macroeconomic regulation, property relations, and anti-corruption policy. Only a large-scale and complete reform will enable progressive renewal and effective, socially responsible integration into the EU countries, taking into account national interests.

scholarly journals Legal regulation of admission and circulation of securities of foreign issuers in Ukraine

2020 ◽  
Vol 3 ◽  
pp. 144-148
Author(s):  
Anna Bukvych
Keyword(s):  
Stock Market ◽  
Positive Impact ◽  
Legal Framework ◽  
Legal Regulation ◽  
Securities Market ◽  
Investment Climate ◽  
Practical Application ◽  
Simplified Procedure

The author explores the possibility of introducing in Ukraine a simplified procedure for foreign issuers to enter the Ukrainian securities market. As a result, the author believes that this will be a very important step for the development of the stock market of Ukraine, which contributes to improving the investment climate and raising Ukraine in the ranking of doing business.The article notes that the demand for securities of foreign issuers and liquid Ukrainian securities is also growing from the side of Ukrainian buyers, which in turn has a positive impact on the development of the securities market in Ukraine as a whole. With the development of new mechanisms in the securities market, new problematic issues will arise, related to the circulation of securities of foreign issuers in Ukraine. For this reason, the practical application of the new rules will require clarification and, accordingly, the development of a new legal framework to address such issues.

Islamic Insurance: National Features and Legal Regulation

2007 ◽  
Vol 21 (1) ◽  
pp. 3-34 ◽  
Author(s):  
Renat Bekkin
Keyword(s):  
Financial Market ◽  
Legal Framework ◽  
Legal Regulation ◽  
The Third ◽  
Islamic Insurance ◽  
Muslim Scholars

AbstractThe present paper studies Islamic insurance (takaful) as opposed to conventional one. The first part of the paper covers, among other things, such issues as nature and historic roots of Islamic insurance, early forms of Islamic insurance and narrates the disputes among Muslim scholars concerning the compatibility of insurance with Islamic Shariah. The second part deals with history and emergence of Islamic insurance in the modern financial market, as well as the practice of Islamic insurance in different countries. The third part discusses the feasibility of Islamic insurance in Russia in the current legal framework. The paper contains comprehensive glossary of related terms.

scholarly journals Overview of Slovenian Legal Regulation for Possible Transformation of Public Institutions into Commercial Companies

2018 ◽  
Vol 8 (1) ◽  
Author(s):  
Dr.Sc. Bojan TIČAR
Keyword(s):  
Present Article ◽  
Legal System ◽  
Limited Liability ◽  
Legal Framework ◽  
Legal Regulation ◽  
Public Institutions ◽  
Public Private Partnerships ◽  
Public Companies ◽  
Private Partnership ◽  
Open Issues

In the present article, the author defines and analyses the legal framework of the transformation of public institutions into commercial companies with an emphasis on the procedures for transforming public institutions into limited liability companies (ltd.). The author first presents the Slovenian legal framework and the new legislation on public-private partnerships (PPP), which was adopted last year. In the second part of the article, the author analyses the new rules, which primarily refer to public companies. These rules apply, mutatis mutandis, to public institutions. The procedures for transforming public institutions into limited liability companies are particularly demanding, as not only the transitional provisions of public-private-partnership legislation regarding public companies apply mutatis mutandis, but also the procedures for the corporate transformation of public limited companies into limited liability companies. The author concludes the article with some open issues regarding such procedures in the Slovenian legal system and the consequences of such transformations for the founders and employees of such transformed public institutions.

scholarly journals Deposit and Savings Certificates: Economic Advantages and Problems of Use

2018 ◽  
Vol 28 (3) ◽  
pp. 434-441
Author(s):  
Elena Prokofieva
Keyword(s):  
Stock Market ◽  
Market Economy ◽  
Financial Market ◽  
Banking System ◽  
Research Topic ◽  
Securities Market ◽  
Short Term ◽  
Resource Base ◽  
Factors Influencing ◽  
Banking Community

A market economy and a civilized banking system have been developing in Russia for more than 25 years. However, some sectors of the financial market have not reached a decent level of development yet. Among them is the market of deposit and savings certificates. In conditions of instability and short-term resource base of banks, certificates as instruments of the short-term stock market could be sought after by participants of the banking system. However, despite the actions taken by the banking community, there are no significant positive changes. This determined the relevance of the research topic. The author studies modern features of the deposit and savings certificates market formed in Russia and determines the range of factors influencing the policy of banks in this area. The author justifies the necessity and expediency of the development of this sector of the securities market, emphasizing its merits for both issuers and individuals placing money in certificates.

scholarly journals Possibility of the Manager and the Members of the Board of the Subsidiary to Act in the Interests of the Group of Companies

Teisė ◽  
2021 ◽  
Vol 119 ◽  
pp. 89-104
Author(s):  
Edvinas Bakanauskas
Keyword(s):  
Present Article ◽  
Legal Framework ◽  
Legal Regulation ◽  
European Model

According to the current legal regulation of Lithuanian companies, the manager and the members of the board of the subsidiary have a duty to act only in the interests of the subsidiary and do not have the opportunity to act in the interests of the group of companies. Meanwhile, the provisions of Section 16 of Chapter 15 of European Model Companies Act provide the possibility for the manager and the members of the board of the subsidiary to act in the interests of the group of companies. Accordingly, the present article analyses whether the current legal framework in Lithuania should be changed by providing the possibility for the manager and the members of the board of the subsidiary to act in the interests of the group of companies.

scholarly journals THE IMPACT OF DIGITALIZATION ON THE DEVELOPMENT OF FINANCIAL INSTRUMENTS IN THE RUSSIAN STOCK MARKET: LEGAL ASPECTS

2020 ◽  
pp. 83-89
Author(s):  
D. V. Lubyagina
Keyword(s):  
Stock Market ◽  
Financial Market ◽  
The United States ◽  
Legal Regulation ◽  
Legal Aspects ◽  
Securities Market ◽  
Financial Instruments ◽  
Blockchain Technology ◽  
Russian Stock Market ◽  
The Impact

The article is devoted to the topical issue of the introduction of digital financial instruments and the use of blockchain technology in the securities market, which is supposed to make the stock market more transparent and reduce the risks of participants. The main legislative trends in the development of digitalization in the financial market are considered. Attention is drawn to the characteristics of certain relatively recently introduced new financial market instruments, the features of legal regulation of their circulation and the problems that arise when using them in practice (for example, the United States as a pioneer in these issues). In connection with a whole package of legal acts aimed at regulating relations in the financial market in the conditions of digitalization, the issue of further prospects for the development of the securities Institute is considered, and the problem of justifying the division of securities into documentary and non-documentary as financial instruments with different legal regimes is raised.

Islamic Insurance: National Features and Legal Regulation

2007 ◽  
Vol 21 (2) ◽  
pp. 109-134 ◽  
Author(s):  
Renat Bekkin
Keyword(s):  
Financial Market ◽  
Legal Framework ◽  
Legal Regulation ◽  
The Third ◽  
Islamic Insurance ◽  
Muslim Scholars

AbstractThe present paper studies Islamic insurance (takaful) as opposed to conventional one. The first part of the paper covers, among other things, such issues as nature and historic roots of Islamic insurance, early forms of Islamic insurance and narrates the disputes among Muslim scholars concerning the compatibility of insurance with Islamic Shariah. The second part deals with history and emergence of Islamic insurance in the modern financial market, as well as the practice of Islamic insurance in different countries. The third part discusses the feasibility of Islamic insurance in Russia in the current legal framework. The paper contains comprehensive glossary of related terms.

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