On the Issue of Improving the Legal Regulation of Crowdfunding in Russia

Objective: this article examines the legal regulation of relations in the field of collective investment, and also formulates the legal gaps that exist in the area under study. The choice of the topic of work is due to the relative weakness of regulation in this area, taking into account the rapid development of such methods of raising funds. The paper examines the points of view of various specialists in this field, including the positions of Professors Linda Yu. de la Vina and Stephanie Lee Black. Methodology: general scientific methods (analysis, synthesis and a number of others), as well as private scientific methods (comparative legal, legal forecasting method) were used as a methodological basis. Conclusions: the paper focuses on the absence of a requirement for operators to verify the reliability of information, it is proposed to simplify the procedure for identifying investors, and also establish a requirement for mandatory dissemination of information about the general and specific risks of companies attracting investments. Specific recommendations are given to fill legal gaps, in particular, proposals are formulated to supplement the existing legal norms regulating the information aspects of the collective investment process. Value: the relevance of the work is expressed in the systematization of approaches to the regulation of this area, as well as the development of recommendations to fill legal gaps.