DOI: 10.7256/2454-0765.2017.4.25051

Abstract:  The subject of the research is the laws and acts that regulate social relations arising in the process of foreign currency exchange in the Russian Federation. The object of the research is the social relations arising in the process of foreign currency exchange in the Russian Federation in relation to generation of revenues of centralized public-law entities' monetary funds. In the Russian Federation foreign currency exchange has certain particularities in terms of accounting and tax treatment thereof which influences the efficiency of financial activity performed by a public-law entity. Observation of these particular rules is necessary to successfully achieve goals and tasks of today's state official activity.  The methodological basis of the research implies the dialectical method for analyzing social, economic and legal phenomena in terms of their interaction and interdependence. Integrity and validity of the results are achieved through a combined use of the structured system, comparative law, formal law and logical theoretical methods as well as applying such methods as description of terms, analysis, synthesis, generalisation and other methods. As a result of the research, the author defines violations of the essential provisions of the Russian Federation tax and levy legislation, i.e. principles of the equal tax burden and economic feasibility of levies and taxes, as consequences of inefficient system of accounting and tax treatment of foreign currency exchange in the Russian Federation. As one of the outcomes of the research, the author emphasizes the need to change the current system of accounting of foreign currency exchange in the Russian Federation. 

DOI: 10.7256/2454-0765.2017.4.22224

Abstract:  The article is devoted to the issues that may arise in the process of legal regulation of credit orgaizations' activity within the Eurasian Economic Union. The aim of the research is to develop single legal mechanisms for regulating social relations in the credit-and-monetary sphere. The subject of the research is a set of associated laws and acts that regulate the activity of credit organizations. The authors of the article analyze the legislative policy of the Republic of Belarus, Russian Federation and Republic of Kazakhstan aimed at developing single legal mechanisms of credit-and-monetary integration. The authors underline that generally speaking, regional economic integration of the Eurasin Economic Union can be successful if the Union's policy continues to have positive dynamics of both financial and credit-and-monetary spheres. The methodological basis of the research implies the normative, complex, systems approaches to analyzing law and order in the sphere of credit-and-monetary relations established or being developing in the territories of the Union member-states. The comparative law method was especially used by the authors during their research and the authors, in fact, built the research model thereupon. The authors also used the history of law method to analyze the development of the EEU member states from the point of view of history. Based on available experience of this new form of international regional cooperation that was initially created on the basis of economic integration, the authors conclude that harmonization and unification of the EEU member states' legislation in the sphere of public finances will be a considerable step towards fuller integration. At the same time, there are certain differences and common features in the legal regulation of these founding states. 

DOI: 10.7256/2454-0765.2017.4.24454

Abstract: The article is devoted to the experience of the implementation of the provisions of the Federal Law no, 476 of December 29, 2014 that defines the rules and procedure of individual (physical entities') bankruptcy. In his research Kuznetsov examines the historical grounds for that law and succeeding transformations. He also analyzes the algorithm for individual bankruptcy procedure, describes conditions and order for concluding an amicable settelment, principles of debt restructuring, and rules for selling debtor's assets. The researcher demonstrates the role of an independent financial manager in a case of individual bankruptcy. The research methodology is based on the systems approach and involves a detailed analysis of the algorithms at each stage of the individual bankruptcy procedure: initiating a bankruptcy procedure, preparing a debt settlement plan, and implementing a debt settlement plan. In his research Kuznetsov describes the main points of confusion in applicable laws that create problems for implementing the provisions of the Federal Law No. 476. The author also focuses on how the value of individual bankruptcy procedure is formed. The author demonstrates that current financial conditions, in fact, makes this procedure unavailable for those who actually need it. The author also makes the main suggestions on how to improve the procedure of individual bankruptcy. These suggestions may be used to change and improve the current legislation.  

DOI: 10.7256/2454-0765.2017.4.25542

Abstract: The subject of the research is the Banking Union of the EU as a new legal phenomenon , in particular, how it has been developing in co-operation with European and national specialized financial institutions as well as international banking laws. The authors place a special emphasis on the description and analysis of historical and legal facts allowing to better understand the nature and main goals of the Banking Union as well as its place in the overall system of financial relations of the EU. The authors demonstrate a close connection between new competent authorities of the Banking Union and European Banking Authority that was created for many purposes including regulation and supervision over the banking sector. The methodological basis of the research implies general and special research methods including historical, dialectical methods, systems approach and formal law method. In the course of their research the authors have made a list of the main legal acts that regulate the development of the Banking Union of the EU and have performed their system analysis. The authors conclude that in the EU financial regulatino has a systemic and complex nature and the Banking Union is just an another topical direction of the EU financial integration that has been quite a success so far. 

DOI: 10.7256/2454-0765.2017.4.23967

Abstract: The article is devoted to the analysis of the current investor rights protection system in the Eurasian Economic Union countries. The rationale of the research is caused by the need to improve legal mechanisms that ensure the stability of banking systems. The subject of the research is the laws and regulations of the Russian Federation, Republic of Belarus, Republic of Kazakhstan, Republic of Armenia and Kyrgyz Republic. The author of the article analyzes the legal status of deposit insurance participants, grounds for compensation payment, and compares the amount of insurance compensation to the rate of national currency and gives evaluation of whether there are sufficient funds for paying compensation. The comparative law method used  by the author allowed to define the general and specific in the legal regulation of the deposit insurance system in the Eurasian Economic Union countries. The novelty of the research is caused by the fact that the author summarizes new laws as of July 1, 2017 and provides recommendations on how to develop them further. The author also proves the need to unify the amount of compensation and to speed up the payment procedure. In terms of the state law, the author suggests to introduce certain amendments to the law which would prevent abuse of parties that have the insider information.