2015DOAJ (DOAJ: Directory of Open Access Journals)Open access

Securities market as a category of financial law

М М Прошунин

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Abstract

The article focuses on the financial and legal issues on securities market regulation. The article deals with the financial and legal nature of the social relations that are emerging in the securities market through a review of methods and techniques of securities market regulation, allocation of a special relationship of the data subject and the public interest in the regulation of the securities market. Differences of the primary and secondary securities market are given. Regulatory, compensatory and redistributive function of the securities market is analyzed. Control of the securities market highlighted in the article as an independent type of state financial control in the Russian Federation. Legal relations arising in the issuance and circulation of state securities are separately analyzed. It is proved that the basis for consideration of the securities market as the financial and legal categories and, therefore, as a matter of financial law in fact are bases, similar to the reasons set out in defense of the financial and legal entities of public banking law: stock market - an integral part of any financial system market type, the presence of public interest in the regulation of relations in the securities market, the existence of a mandatory subject of legal relations, having a public authority in the face of the Bank of Russia, the existence of relations of power and subordination between the Bank of Russia and professional participants of the securities market in the framework of regulation and supervision securities market, public-legal methods of regulating the securities market.

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What this paper is about

The article focuses on the financial and legal issues on securities market regulation. The article deals with the financial and legal nature of the social relations that are emerging in the securities market through a review of methods and techniques of securities market regulation, allocation of a special relationship of the data subject and the public interest in the regulation of the securities market. Differences of the primary and secondary securities market are given. Regulatory, compensatory and redistributive function of the securities market is analyzed. Control of the securities market highlighted in the article as an independent type of state financial control in the Russian Federation. Legal relations arising in the issuance and circulation of state securities are separately analyzed. It is proved that the basis for consideration of the securities market as the financial and legal categories and, therefore, as a matter of financial law in fact are bases, similar to the reasons set out in defense of the financial and legal entities of public banking law: stock market - an integral part of any financial system market type, the presence of public interest in the regulation of relations in the securities market, the existence of a mandatory subject of legal relations, having a public authority in the face of the Bank of Russia, the existence of relations of power and subordination between the Bank of Russia and professional participants of the securities market in the framework of regulation and supervision securities market, public-legal methods of regulating the securities market.

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Available abstract

The article focuses on the financial and legal issues on securities market regulation. The article deals with the financial and legal nature of the social relations that are emerging in the securities market through a review of methods and techniques of securities market regulation, allocation of a special relationship of the data subject and the public interest in the regulation of the securities market. Differences of the primary and secondary securities market are given. Regulatory, compensatory and redistributive function of the securities market is analyzed. Control of the securities market highlighted in the article as an independent type of state financial control in the Russian Federation. Legal relations arising in the issuance and circulation of state securities are separately analyzed. It is proved that the basis for consideration of the securities market as the financial and legal categories and, therefore, as a matter of financial law in fact are bases, similar to the reasons set out in defense of the financial and legal entities of public banking law: stock market - an integral part of any financial system market type, the presence of public interest in the regulation of relations in the securities market, the existence of a mandatory subject of legal relations, having a public authority in the face of the Bank of Russia, the existence of relations of power and subordination between the Bank of Russia and professional participants of the securities market in the framework of regulation and supervision securities market, public-legal methods of regulating the securities market.

Key concepts: Business, Financial market, Financial system, Law, Law and economics, Economics, Finance, Political science

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