Importance There are different provisions and classification of the securities market regulation, some of which differ significantly from each other, thus, to a certain extent, obstructing practical researches of various aspects. The article discusses some theoretical and practical aspects of regulating the securities market in Russia. Objectives The research aims at systematizing the theoretical provisions of the securities market regulation by making a detailed classification per various criteria. We consider various points of view scientists have on these issues. We provide scientific substantiation of the classification that allows systematizing types and subtypes of the securities market regulation as required to build an effective mechanism for managing the securities market. Methods Using econometric methods, we classify the securities market regulation per criterion, thereby systematizing scientific knowledge, determining a role of the mega-regulator in the Russian Federation. We review successful foreign experience in this respect. We mainly apply the following methods: an expert assessment method, analytical method and legal regulation. Results We systematize the classification of the securities market regulation in accordance with multiple criteria. We put a special focus on difference between public and non-public regulation of securities markets, systematization of methods and leverages of stock exchange regulation. We identify what is subject to self-regulation in securities markets, and its main functions. The research also determines the key aspects of public regulations. Scrutinizing the current global trends, we corroborate that governmental bodies have made a strategically correct choice by establishing the mega-regulator in Russia. As a result of the research, we devise a mega-regulation mechanism and its operation model. Conclusions and Relevance We conclude that the government should pursue an active policy to maintain balanced development of various formats of regulating the national securities market.
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