Email this article Activities of illegal financial market participants: financial and legal aspects and problems
- Authors: Shepeleva D.V.1
-
Affiliations:
- Financial University under the Government of the Russian Federation
- Issue: Vol 15, No 1 (2022)
- Pages: 41-46
- Section: Articles
- URL: https://journals.rcsi.science/2072-3164/article/view/147416
- ID: 147416
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Abstract
The article of the study of the activities of illegal financial market participants is related to the increasingly frequent cases of illegal attraction of funds in the form of cyber fraud, unfair practice of selling financial services through financial pyramids or illegal professional participants in the securities market. Therefore, the main purpose of the article will be to study the legal regulation of the categories «illegal financial market participant», «financial pyramid», characteristic features of illegal financial market participants, the first manifestations of financial pyramids in world history. Particular attention is paid to the leading role of the Bank of Russia in identifying this category of entities, including the initiatives of the Bank of Russia regarding the purity of the activities of financial market entities. In conclusion, the most effective tools and methods for suppressing illegal activities of illegal financial market participants, educational activities of the Bank of Russia in terms of financial literacy of citizens, the use of preventive response measures and the implementation of new international principles of currency control, allowing to increase the transparency of the fair work of financial and foreign exchange market participants, as well as the problematic and most acute, currently unresolved issues of modern legislation in relation to illegal financial market participants.
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##article.viewOnOriginalSite##About the authors
Dina Victorovna Shepeleva
Financial University under the Government of the Russian Federation
Email: dvshepeleva@fa.ru
Cand.Sci.(Law), Associate Professor of the Department of International and Public Law Moscow, Russia
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