scholarly journals FINANCIAL INSTRUMENTS OF STOCK AND BANKING MARKETS IN CORRUPTION CRIMES AND THEIR LEGAL REGULATION

2020 ◽  
Author(s):  
А.В. Рамазанов
Keyword(s):  
Legal Regulation ◽  
Financial Instruments ◽  
Banking Markets

Введение: статья посвящена исследованию особенностей и возможностей применения финансовых инструментов фондового и банковского рынков в коррупционных сделках. Рассматриваются особенности нормативно-правовой базы, связанной с регулированием применения финансовых инструментов фондового и банковского рынков при совершении гражданско-правовых действий. Материалы и методы: в качестве основных источников выступили действующее законодательство Российской Федерации, материалы судебной практики, открытые сведения из средств массовой информации, опыт практической деятельности автора в банковской системе РФ. При написании статьи использованы классические общенаучные методы анализа, синтеза и дедукции, а также метод моделирования. Результаты исследования: в статье проанализированы особенности и возможности использования финансовых инструментов фондового и банковского рынков в коррупционных сделках. Остаются проблемными вопросы, связанные с институтом «номинального держателя», обращением цифровых финансовых активов. Обсуждение и заключения: автором предложены меры по предупреждению, выявлению и профилактике применения ценных бумаг, цифровых финансовых активов, банковских методов и инструментов в коррупционных преступлениях. В частности, для снижения коррупционных рисков предложен механизм публичной продажи долей государства в акционерных компаниях на организованных торгах (на бирже). Обобщен и графически представлен механизм коррупционной реализации государственного (муниципального) имущества посредством создания акционерных обществ. Кроме того, автор статьи предлагает внести изменения в раздел 6 Справки о доходах, расходах, об имуществе и обязательствах имущественного характера для государственных гражданских и муниципальных служащих и в абзац пятый статьи 26 закона «О банках и банковской деятельности» в части отражения использования договоров аренды банковского сейфа.

scholarly journals Criminal law measures of ensuring the security of the crypto sphere

2019 ◽  
Vol 3 (1) ◽  
pp. 155-162
Author(s):  
Oleg Stepanov ◽  
Denis Pechegin
Keyword(s):  
Criminal Law ◽  
Foreign Currency ◽  
Modern Society ◽  
Developed Countries ◽  
Legal Regulation ◽  
Financial Asset ◽  
Financial Instruments ◽  
The Us ◽  
Draft Bill ◽  
The Cost

In the first issue of the Bratislava Law Review magazine for 2018, our article addressed the problem of legal regulation of relations related to the crypto sphere “Failure to repatiate funds in foreign currency from abroad and modern issues of currency regulation” was published. In December 2017, Bitcoin predicted the cost of $ 40 – $ 100 thousand. However, in 2018, the situation changed-the Bitcoin exchange rate began to lose from $ 0.5 to $ 1 thousand per day, and its market capitalization fell to $ 70 billion. The crisis of the crypto market has affected not only the capitalization of cryptocurrencies, but also the issues of legal regulation of relations associated with its use. Currently, only three countries – Sweden, the Netherlands and Japan – recognize cryptocurrency as a legal means of payment. In Spain, the cryptocurrency is classified as an electronic means of payment only in relation to the gaming business. The legislation of Germany, as well as Finland, allows to classify cryptocurrencies as financial instruments. In China, Singapore and Norway cryptocurrency is considered as a financial asset in the US – as property, i.e. developed countries are in no hurry to equate cryptocurrency to means of payment. In Russia, the use of cryptocurrencies is not regulated by any rules, but there is no legislation prohibiting the circulation of cryptocurrencies as means of payment. At the same time, the draft bill “On digital nancial assets”, designed to regulate financial relations in the crypto sphere, completely excludes the issues of mining and circulation of existing crypto-currencies. However, new electronic entities carry certain risks associated with their turnover. In this regard, many States seek to develop mechanisms to ensure the security of actions in the new crypto sphere of legal relations before the direct legalization of cryptocurrencies and other modern electronic entities. The purpose of the article is to analyze the approaches related to the security of the crypto sphere in modern society by criminal law measures taking into account foreign experience.

scholarly journals The Problems of Crowdsourcing Legal Regulation in Russian Federation

2018 ◽  
Vol 3 (2) ◽  
pp. 533
Author(s):  
Afanaseva E.Y.
Keyword(s):  
Information Technology ◽  
Russian Federation ◽  
Legal System ◽  
Business Models ◽  
Legal Regulation ◽  
Financial Instruments ◽  
Role Of Information

In this article the problems of legal regulation of fintech in Russia are considered, special attention is paid to the crowdsourcing, its classification, examples of business models, and the importance of developing alternative financial instruments due to the growing role of information technology in the terms of environment. The actual legal system of Russian Federation is analyzed due to the questions of fintech and traditional financial instruments. The article examines contradictions of laws and legal hurdles. The author suggests generalized measures to eliminate the deficiencies of legislation aimed at the development of fintech in Russia. Keywords: crowdsourcing, crowdfunding, crowdlending, crowdinvesting, legal regulation, problems of legislation

scholarly journals Corporations and Corporate Financial Instruments in Russian and Foreign Law

2021 ◽  
pp. 285-320
Author(s):  
R. V. Chikulaev ◽  
◽  
Keyword(s):  
Legal Status ◽  
Developed Countries ◽  
Legal Regulation ◽  
Financial Instruments ◽  
Legal Systems ◽  
Legal Regime ◽  
Financial Instrument ◽  
Corporate Rights ◽  
The World ◽  
Legal Forms

Introduction: the paper investigates the legal regime of corporate financial instruments in the context of the convergence of the world legal systems taking into account historically determined national differentiation. We study the legal regime of corporate financial instruments with respect to the status peculiarities of a corporation as a subject of legal relations and the regime characteristics of a financial instrument as a legal object. The purpose of the study is to analyze and generalize the legal experience of economically developed countries and to explain the modern legal content of the concept ‘corporate financial instrument’ against the related legal terms ‘securities’, ‘financial instrument’, ‘corporation’; to reveal major problems in the doctrine and positive legal regulation. Methods: comparative-legal, formal-logical, historical, analytical, empirical methods, and legal modeling. Results: the analysis of Russian and foreign experience made it possible for us to explain the specific nature of the legal status of corporation as the main component of modern economic systems, which determines special legal regimes of financial instruments that provide certain corporate rights. Conclusions: in terms of comparative analysis, of special interest is legal experience of such countries as Germany, France, Great Britain, and the USA since these countries show a higher level in the development of corporate legal forms and financial markets. Since early 1990s, Russia has been demonstrating high rates in the formation of the system of financial instruments circulation, which, with respect to the legal development of the corporate legal entity doctrine, brings Russian legal system closer to the world major legal systems. In the light of the focus on the sustainable economic development and defense of state interests with the use of modern digitalization methods, this also objectifies and makes currently relevant the development of the national legal regime of the corporate financial instrument based on the international legal experience.

scholarly journals TO THE QUESTION ON ECONOMIC AND LEGAL SECURITY OF THE USE OF BINARY OPTIONS AS FINANCIAL INSTRUMENTS

2020 ◽  
Vol 33 (20) ◽  
pp. 58-63
Author(s):  
L. D. Rudenko ◽  
A.Yu. Bavikin ◽  
O.P. Sokolenko
Keyword(s):  
Raw Materials ◽  
Precious Metals ◽  
Legal Regulation ◽  
Federal Republic Of Germany ◽  
Financial Instruments ◽  
Options Market ◽  
Financial Instrument ◽  
Online Platforms ◽  
Binary Options ◽  
Legal Security

The article investigates the current state of economic and legal support for the use of binary options as financial instruments. On the basis of the conducted research, the concept of binary option as derivative security and the financial instrument is specified, the main types of binary options are distinguished. Also, the article investigates features of the functioning of the binary options market through online trading platforms. The legal nature of the binary option as a derivative of security and a financial instrument (item 5 of Part 5 of Article 3 of the Law of Ukraine “On Securities and the Stock Market”) is specified. There is no comprehensive list of such securities in the legislation. That is, based on the features of the binary option (timeliness; purchase or sale of any of the financial instruments, including those that provide cash payment; no actual purchase of securities, currency or precious metals, raw materials; availability of a certain fixed condition at the time conclusion of the transaction; short-term and speculative nature of the financial transaction; trading on online platforms). The concept of a binary option has been clarified, namely: this is the type of options contract (contract) under which the payment will depend entirely on the result of the offer, yes or no, usually related to whether the price of a particular asset such as a stock or commodity will rise above or will decrease below the amount indicated. Unlike traditional options, when such an agreement is concluded, no actual purchase of a security, precious metal, raw materials is made, but a bid is made to increase or decrease the price of the asset for a certain time. Based on an analysis of EU law, including the MIFID, it is determined that binary options refer to derivative financial instruments. The peculiarities of economic and legal regulation of the binary options market are investigated by the European Securities Market Supervision Authority (ESMA). There is a lack of proper regulation and control over the binary options market by the state in Ukraine, which in turn led to an outflow of tens of millions of dollars from the Ukrainian economy and causing significant financial losses to traders. The article argues the feasibility of adopting a special law on the market for binary options based on the experience of the Federal Republic of Germany to protect Ukrainian traders. Keywords: binary option, financial instrument, trader, trading online platforms, ESMA, MIFID.

scholarly journals State and Prospects of Using the Сryptocurrency Derivatives

2020 ◽  
pp. 60-65
Author(s):  
Oleksandr Petruk ◽  
◽  
Oksana Novak ◽  
Keyword(s):  
Legal Status ◽  
Rapid Development ◽  
Developed Countries ◽  
Legal Framework ◽  
Legal Regulation ◽  
Intangible Asset ◽  
Financial Instruments ◽  
Spot Prices ◽  
Domestic Legislation ◽  
Futures And Options

The emergence and rapid development of the cryptocurrency market necessitated its organization and legal regulation. Today in Ukraine, businesses are allowed to record cryptocurrency as a financial asset (financial instrument / intangible asset), so cryptocurrency can be used by businesses and individuals as an investment. In developed countries, where the legal framework for the operation of cryptocurrencies has been created, new derivative financial instruments are emerging: Bitcoin futures and options on Bitcoin futures. The purpose of the article is to study the features of derivative financial instruments for cryptocurrencies and prospects for their use in Ukraine. The authors analyzed the peculiarities of the functioning of Bitcoin derivatives on Chicago Mercantile Exchange (CME). It has been established that both Bitcoin futures and options on Bitcoin futures are settlement contracts without the actual delivery of the underlying asset, and their value is formed depending on the spot prices for bitcoin. According to the results of the study, it can be argued that derivatives based on cryptocurrencies (bitcoin) are used mainly for speculative purposes, are highly volatile and high risk, require significant investment to participate in trading (compared to derivatives on traditional financial instruments) and do not involve any transactions with direct cryptocurrencies. Domestic legislation does not explicitly prohibit investments in cryptocurrencies and financial instruments derived from them, but does not determine the legal status of cryptocurrencies. National financial market regulators do not provide any guidance on valuation, accounting and cryptocurrency transactions to businesses, but only warn of the high risks of investing in cryptocurrencies.

scholarly journals Legal Regulation of Ecotourism Infrastructure Development in the Region

2020 ◽  
pp. 160-165
Author(s):  
L. Bezuhla ◽  
Keyword(s):  
Development Strategy ◽  
Legal Regulation ◽  
Infrastructure Development ◽  
Financial Instruments ◽  
Implementation Plan ◽  
Private Partnership ◽  
Institutional Conditions ◽  
The Development Strategy ◽  
Regional System ◽  
Ecological Tourism

The article analyzes and summarizes the current legislative and regulatory framework governing the development of rural green (ecological) tourism in Ukraine. It is established that in legislative and normative legal acts there are no formulations of the terms "ecotourism activity" and "ecotourism infrastructure". The general principles of functioning and development of ecotourism infrastructure as a component of the tourist system at the national and regional levels are not prescribed. Appropriate institutional conditions for the formation of ecotourism infrastructure in the regions have not been determined. It was found that most strategic programs in various areas of development of Dnipropetrovsk region do not mention the formation of ecotourism infrastructure as a key component of the regional system of tourism business, and did not develop a financial mechanism for its operation with non-traditional sources of investment and financial instruments, including public-private partnership. The Implementation Plan of the Development Strategy of Dnipropetrovsk region does not pay enough attention to the implementation of measures to promote the creation and intensive operation of ecotourism infrastructure. Proposals for improving the legal regulation of ecotourism infrastructure development in the region are provided.

STATE SUPPORT FOR EXPORTS IN RUSSIA: FINANCIAL INSTRUMENTS AND LEGAL REGULATION

2020 ◽  
Vol 1 (8) ◽  
pp. 35-42
Author(s):  
V. E. YURCHENKO ◽  
Keyword(s):  
International Trade ◽  
International Cooperation ◽  
Russian Federation ◽  
Legal Regulation ◽  
Financial Instruments ◽  
Key Characteristics ◽  
The Russian Federation ◽  
The Government ◽  
Domestic Products ◽  
Priority Project

The article describes the legal regulation of financial instruments to support export in order to stimulate and increase the efficiency of export activities of Russian enterprises, as well as analyzes the implementation of the federal project “Systemic Measures for the Development of International Cooperation and Export” It reveals the key characteristics of the measures implemented by the Government of Russia to increase the competitiveness of domestic products and services abroad, analyzes the results achieved in the context of the roadmap "of the priority project, strengths and weaknesses of existing preferences for exporters and legal regulation of their activities, provides a number of recommendations for further policy in the field support of domestic entities in international trade. The article was prepared based on the results of studies carried out at the expense of budget funds on a state assignment to the Financial University under the Government of the Russian Federation

scholarly journals ОСОБЛИВОСТІ І ТЕНДЕНЦІЇ РОЗВИТКУ РЕГУЛЮВАННЯ ТРАНСКОРДОННИХ ОПЕРАЦІЙ З ФІНАНСОВИМИ ІНСТРУМЕНТАМИ В ПРАВІ ЄС

2019 ◽  
Vol 13 ◽  
pp. 228-237
Author(s):  
І. П. Яновська
Keyword(s):  
Legal Regulation ◽  
Free Movement ◽  
Financial Instruments ◽  
Technical Standards ◽  
Eu Legislation ◽  
Current Trends ◽  
Free Movement Of Capital ◽  
The Eu

Стаття присвячена аналізу сучасних тенденцій розвитку правового регулювання депозитарної системи в ЄС, зокрема збільшенню технічних норм в нормативних актах ЄС. Ідентифіковано проблемні питання, через які ринки постторгових послуг залишають­ся національно-орієнтованими, а через те недостатньо сприяють вільному руху капіталу у формі фінансових інструментів, в т. ч. цінних паперів, в масштабі ЄС.   The article deals with the analysis of current trends in the legal regulation of depository system in the EU, in particular the increase in technical standards in EU legislation. It also identifies problematic issues due to which markets of post-trading services are nationally-oriented, and therefore contribute little to the free movement of capital in the form of financial instruments, including securities, within the EU.

Legal regulation of financial instruments in the digital economy of Russia

2021 ◽  
pp. 66-77
Author(s):  
Galina Vladimirovna Astratova ◽  
Stanislava Vladimirovna Astratova ◽  
Dmitry Leonidovich Kokorin ◽  
Natalia Sergeevna Mikhailova ◽  
Ulyana Vasilievna Permyakova
Keyword(s):  
Legal Regulation ◽  
Digital Economy ◽  
Financial Instruments
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