Importance Under conditions of formation of the model of financial market mega-regulation in our country, there is a need to study best practices of developed countries related to financial supervision. The basis of the study is the experience of financial regulators of Australia, Canada, United Kingdom and Switzerland. Objectives The study aims to systemize the areas, methods and tools of financial supervision based on summarization of modern foreign approaches to the supervision of financial institutions, i.e. banks and insurance companies. Methods I employed methods of comparative analysis and the systems approach to review the key stages of financial supervisors' activity in developed countries, including the planning of supervisory activities, supervisory activities combined with preventive (proactive) interference, and administrative influence on financial institutions (enforcement measures). Results I have developed a combined model of financial supervision that considers the key innovations of the post-crisis period. The model rests on continuous business processes of supervisory activity and represents an early warning system, which is based on ongoing monitoring of financial risks inherent in financial institutions and taking preventive measures. Conclusions and Relevance The proposed model really exists and is successfully implemented in the foreign practice. The modern supervisory activity should be based on the combination of planning, prudential supervision, surveillance of behavior, and proactive intervention into financial institutions' operations. The findings of the study may be useful for the mega-regulator of the Russian financial market and banking, insurance, and scientific communities.
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