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Legal Studies

Securities market depository in Russia and the USA: prerequisites of formation and problems of legal qualification
Bezborodov Yuliya Robertovna

Post-graduate student, the department of Private International Law, Moscow State Institute of International Relations of the Ministry of Foreign Affairs of Russia; Legal consultant “Robert Bosch” LLC

119454, Russia, g. Moscow, pr. Leninskii, 123, kv. 492

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The paper describes the prerequisites of formation and establishment of the system of indirect holding of securities. The article reflects the impact of dematerialization and immobilization processes on the formation of the modern recording system. The author defines the key qualifying functions of the recording system and describes the varieties of recording systems. Particular attention is given to the formation of the modern recording system in the Russian Federation and the comparative analysis of this process with similar processes in foreign countries. The author also gives attention to the origins of legal problems connected with cross-border transfer of securities. With regard to the research subject, goals and tasks, the author uses the comparative-legal method of research. The author also applies law of conflicts and the material-legal methods. In the author’s opinion, the acquired information will provide insight into the purpose of depository system and its functions and will help find out the prerequisites of formation and possible variants of development of collision problems connected with cross-border transfer and recording of securities in indirect holding and will help assess similar processes in the Russian Federation. 

Keywords: dematerialization, immobilization, central depositary, indirect holding, securities market, depositary, securities, recording system, intermediary, conlflicts-of-law rule



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This article written in Russian. You can find full text of article in Russian here .

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