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Self-Regulatory Organizations In The Financial Marketplace

Author

Listed:
  • Nataliya Polezhaeva

    (Gaidar Institute for Economic Policy)

Abstract

A Federal Law “On Self-Regulatory Organizations in the Financial Marketplace”1 (hereinafter “the Federal Law on SROs in FMP) was adopted on 13 July 2015 and is due to come into force on 11 January 2016. The adopted Federal Law saw just minor amendments despite serious criti cism brought in against it by the professional and academic communities in the process of its development and submission to the State Duma (the lower house of Russia’s parliament)2 for consideration. Thus, a new system in Russia is under construction, which aims to regulate SROs in the fi nancial marketplace, in which the Bank of Russia is actively involved, and it is the fi nancial markets regulator that decides how actively it will be involved. However, the new system may pose some risks for the independent nature of SROs.

Suggested Citation

  • Nataliya Polezhaeva, 2015. "Self-Regulatory Organizations In The Financial Marketplace," Russian Economic Development, Gaidar Institute for Economic Policy, issue 12, pages 110-115, December.
    • Handle: RePEc:gai:recdev:639
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    More about this item

    Keywords

    Financial markets; Russian Economy;

    JEL classification:

    • G - Financial Economics
    • G1 - Financial Economics - - General Financial Markets

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