Simonov S.V.Financial University under Government of Russian Federation (Orel Branch), Orel, Russian Federation SVSimonov@fa.ru
The article presents the main results of studying the specifics of the Bank of Russia functioning as a mega-regulator of the financial market. The subject of the study is the new functions of the Bank of Russia, which were transferred to the Bank after final assigning it the status of the mega-regulator of the financial market. The authors considered the specifics of regulation, control and supervision in the financial market of the Russian Federation implemented by the Bank and its territorial offices, including the reformed organizational structure, functions of new business units and distribution of powers between them. The performed analysis resulted in the conclusion about inefficient distribution of powers of control and supervision between the territorial offices of the Bank of Russia over the financial market participants acting as non-credit organization. First of all, it concerns the powers of implementing actions related to registration of securities issues and reports on securities issue results of issuers that are not part of the federal group. The authors emphasize that this situation necessitates improving the organizational structure of the Bank of Russia and identify the areas and ways of such improvement. It is possible to use the research results for further elaboration of issues related to optimization of regulation, control and supervision over the financial market participants acting as non-credit organizations exercised by the Bank of Russia. In addition, it is expedient to use the results as part of training process in higher educational institutions when teaching and studying the financial market-related disciplines.
Keywords: financial market, mega-regulator, Bank of Russia
References:
Bratko A.G. Tsentral'nyi bank v bankovskoi sisteme Rossii [The Central bank in the Russian banking system]. Moscow, Spark Publ., 2001, 335 p.
Vladimirova M.P., Kozlov A.I. Den'gi, kredit, banki [Money, credit, banks]. Moscow, KnoRus Publ., 2006, 286 p.
Vavulin D.A. Izmenenie poryadka raskrytiya informatsii emitentami emissionnykh tsennykh bumag [Changing procedure for information disclosure by securities issuers]. Pravo i ekonomika – Law and economy, 2005, no. 7, pp. 34–41.
Vavulin D.A. Narushenie poryadka priobreteniya krupnykh paketov aktsii otkrytogo aktsionernogo obshchestva [Violating the order of purchasing large blocks of stock of a publicly traded company]. Aktsionernoe obshchestvo: voprosy korporativnogo upravleniya – Joint-stock company: corporate governance issues, 2010, no. 1, pp. 45–50.
Golodova Zh.G. Den'gi, kredit, banki [Money, credit, banks]. Moscow, People’s Friendship University of Russia Publ., 2001, 448 p.
Den'gi. Kredit. Banki: uchebnik [Money. Credit. Banks: a textbook]. Moscow, TK Velbi, Prospekt Publ., 2003, 624 p.
Lavrushin O.I. Ot teorii banka k sovremennym problemam ego razvitiya v ekonomike [From the theory of bank to modern problems of its development in the economy]. Bankovskoe delo – Banking, 2003, no. 7, pp. 2–9.
Lavrushin O.I. Bankovskoe delo [Banking]. Moscow, Finansy i statistika Publ., 2006, 768 p.
Nechaev A.A. Antikrizisnye mery gosudarstva: problemy effektivnosti i kontrolya [Crisis response measures of the State: problems of efficiency and control]. Bankovskoe delo – Banking, 2009, no. 3, p. 27.
Khoroshev S. Stavka refinansirovaniya kak antikrizisnaya i antiinflyatsionnaya mera: mneniya ekspertov [Refinancing rate as a crisis response and an anti-inflationary measure: expert opinions]. Bankovskoe delo – Banking, 2009, no. 1, pp. 36–39.
