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MAIN PAGE > Journal "Legal Studies" > Rubric "‘инансовое и налоговое право"
‘инансовое и налоговое право
Litovko A.S. - Supervision of the Bank of Russia over unfair practices in the field of consumer protection of financial services pp. 1-11

DOI:
10.25136/2409-7136.2023.5.40733

EDN: XAKVHW

Abstract: The article is an analysis of the work of the Bank of Russia in the field of determining unfair behavior patterns in the financial market. The author examines the positions of the Bank of Russia and researchers on the identified signs of unfair actions in the behavior of financial market entities, and analyzes them. The article also examines the existing problems in this area and suggests ways to solve them. The research is relevant and can be useful for professionals in the field of financial regulation and for anyone interested in the security and stability of the financial market. In the article "Definition of unfair practices in the framework of the supervision of the Bank of Russia over the behavior of financial market entities." an analysis of opinions on the establishment of signs of unfair activity in the financial market was also carried out. The scientific novelty of the article lies in the fact that the authors conduct research and analysis of existing practices and scientific opinions on the signs of unfair practices that violate the rights of consumers of financial services. They pay attention to the problems associated with unfair practices. The authors propose a definition of unfair practices in the financial market. The authors analyze the signs of unfair behavior of financial market participants and offer new ideas and recommendations for effective detection and prevention of unfair practices. Their research contributes to the development of the field of consumer protection of financial services and can become the basis for further research and practical measures in this area.
Nikolaev V.V. - Approaches to information and legal regulation of microfinance activities in terms of information legislation pp. 8-25

DOI:
10.7256/2409-7136.2017.4.22408

Abstract: The paper considers theoretical issues of information and legal regulation of microfinance activities. The author studies microlenders operating on the financial market of the Russian Federation. Based on the current information legislation, the author demonstrates the priority directions of development of the new stage of information society; taking into account the importance of digital economic mechanisms, the author pays special attention to the need for information support of microfinance activities. In the light of the focus of the present article and the provisions of the General directions of development of the financial market of the Russian Federation for 2016 – 2018, the author demonstrates the potential tasks for the microfinance market. The author applies the hermeneutical approach, the methods of analysis and synthesis, the system approach, the comparative method and other methods of legal studies. The author formulates his own approach to information and legal regulation of microfinance activities; proves that the new stage of information society development is determined by the existing demand of information consumers for reliable and safe information including that transmitted via the Internet; raises the problem of formation of the Unified register of trusted web-sites as a counterbalance to the harmful information turnover in the Russian segment of the Internet. 
Agafonov M.N. - Behavioral supervision of the Bank of Russia over the activities of microfinance organizations providing loans pp. 21-32

DOI:
10.25136/2409-7136.2024.1.69644

EDN: LUOQUZ

Abstract: The article discusses issues related to the implementation of behavioral supervision of the Bank of Russia over the activities of microfinance organizations, including the provision of loans. The main purpose of the study is to identify changes in approaches to supervision in the microfinance market since the transition to mega-regulation, identify the reasons for the emergence of a new type of supervision aimed at protecting the rights of consumers of financial services, and analyze the work of the mega-regulator in this area. The study examines in detail the issues of legal regulation of the implementation of behavioral supervision in this area and the consolidation of relevant provisions at the level of normative legal acts. Special attention is paid to the results of this supervisory activity of the Bank of Russia, in particular, their reflection at the level of the relevant acts of the mega-regulator. The methodological basis of the research is the general scientific method of analysis, private scientific methods of formal legal analysis and interpretation. The results of the application of behavioral supervision by the Bank of Russia are analyzed and it is shown that this type of supervision is an effective tool for supervisory activities, allowing not only to monitor compliance with the requirements of current legislation, but also to combat unfair practices on the part of supervised organizations. The importance of the preventive component of behavioral supervision is separately noted. Problematic aspects in legal regulation are considered, including the lack of a legal definition of the relevant term and special norms at the level of normative legal acts, and, as a result, the need to improve the legal regulation of behavioral supervision. The novelty of the study lies in the proposed concept of behavioral supervision of the Bank of Russia over the activities of microfinance organizations, as well as in the analysis of the use of a new type of supervision by the mega-regulator in relation to specific subjects of the financial market.
Litovko A.S. - The Concept and Essence of Behavioral Supervision of the Central Bank of the Russian Federation. pp. 25-35

DOI:
10.25136/2409-7136.2023.2.39735

EDN: IQJATS

Abstract: The subject of the study are the norms of Russian and foreign financial legislation and other sources of law regulating the activities of the Central Bank of the Russian Federation on supervision of the behavior of participants in the financial market of the Russian Federation. The object of the study is the social relations arising in the implementation of behavioral supervision of the Central Bank of the Russian Federation. The author examines in detail such aspects of the topic as the concept and essence of behavioral supervision of the Central Bank of the Russian Federation. Particular attention is paid to the concepts of the phenomenon under study that have developed in practice and science during the period of supervision by the Central Bank of the Russian Federation for the detection of unfair practices in the financial market. The novelty of the research lies in the fact that the author has considered in detail the concept and essence of one of the instruments of the Central Bank of the Russian Federation Ц "behavioral supervision". Behavioral supervision is a tool designed to identify and counter unfair practices in the sale of financial products and services, as well as other patterns of behavior of financial market entities that violate the rights and freedoms in the financial market. In a number of foreign countries, behavioral supervision has long found its place in the system of control and supervisory measures of the relevant state bodies. In Russia, behavioral supervision is a formative legal category, the legal consolidation of which is absent in legislation. Based on the analysis of foreign legislation and law enforcement practice of the Bank of Russia, the article formulates the concept of behavioral supervision and its essential features.
Kovrigin A.A. - Institute of the Financial Commissioner as a tool for resolving insurance disputes pp. 25-33

DOI:
10.25136/2409-7136.2023.7.40998

EDN: HCGPHK

Abstract: The subject of the study is the specifics of legal relations arising in the sphere of functioning of the institution of the financial commissioner as an instrument for resolving insurance disputes. Due to the fact that the novelty of the Institute of the financial Commissioner has caused sufficient activity of research interest in scientific circles over the past five years, the author of this study pays attention to certain aspects not previously studied. The object of the research is the institution of the financial commissioner as a tool for resolving insurance disputes in the context of its doctrinal understanding and legal essence. Particular attention is paid to the transformation of the method of alternative settlement of insurance disputes (in foreign legal systems) into a jurisdictional institution providing mandatory pre-trial settlement. The main conclusions reached by the author are as follows. The domestic Institute of the Financial Commissioner distorts the legal nature of the institution of the financial Ombudsman, transforming an alternative way of resolving the dispute into a stage of consideration of the appeal as a mandatory pre-trial settlement. From an effective tool for resolving an insurance dispute, forming a systematic approach to resolving standard disputes and optimizing the insurance services market as a whole, the institution of a financial commissioner has been turned into a mandatory jurisdictional stage for considering insurance disputes of a certain category. The regulatory framework governing the activities of the financial Commissioner does not include professional and functional special principles of activity. Meanwhile, it is the special functional principles that determine the legal essence of the institution of state power authorized to consider appeals in any field. The conclusion is formulated about the incomplete implementation of the requirements of Federal Law No. 123-FZ, which is confirmed by the analysis of information from open sources. The main contribution of the author to the research of the topic is the analysis of the legal nature and purpose of the institution of the financial commissioner as a tool for resolving insurance disputes. The scientific novelty lies in the substantiation of the conclusion about the transformation of the institute implemented from foreign legislation into an institute with a fundamentally different purpose and content.
Bezborodov J.R. - Securities market depository in Russia and the USA: prerequisites of formation and problems of legal qualification pp. 30-46

DOI:
10.25136/2409-7136.2017.7.23280

Abstract: 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. 
Andrianova N.G. - Digital Ruble: Features of Financial Legal Regulation pp. 31-38

DOI:
10.25136/2409-7136.2023.8.43816

EDN: UNLLBU

Abstract: The features of the financial legal regulation of the digital ruble are analyzed in the article. The author analyzes the key provisions of the Digital Ruble Concept proposed by the Bank of Russia, as well as the latest amendments to the legislation introduced at the end of July 2023, regulating the specifics of the legal regulation of the digital ruble. It is indicated that the allocation of the digital ruble as a separate form of money was carried out by the Bank of Russia in the economic aspect, the digital form of the Russian national currency by its legal nature refers to non-cash funds. The definitions of the concepts of "digital ruble", "digital currency" and "cryptocurrency" are analyzed in the article, their main features are highlighted. As a result of the study, the author has found that the digital form is common to the digital ruble, digital currencies and cryptocurrencies. The digital ruble is a Central Bank digital currency and cannot be classified as a digital currency. Unlike digital currencies, the digital ruble is legal tender on the territory of the Russian Federation and refers to fiat money. These essential features of the digital ruble make it possible to conclude that it is impossible to apply Federal Law No. 259-FZ of 31.07.2020 "On Digital Financial Assets, Digital Currency and on Amendments to Certain Legislative Acts of the Russian Federation" to the regulation of the digital ruble and on the implementation of legal regulation of the digital ruble mainly by the rules of financial legislation.
Titorenko S.K. - Legal Regulation of Taxation of Cryptocurrency Turnover: A Comparative Legal Study of the Tax and Legal Regulation of the Republic of Malta and the Russian Federation pp. 36-43

DOI:
10.25136/2409-7136.2023.2.39785

EDN: FUOROY

Abstract: The author discusses the features of the tax and legal regulation of cryptocurrencies in the Republic of Malta and the Russian Federation. A study of legal regulation and a study of the positions of legal scholars of the Republic of Malta, in terms of regulating the turnover of cryptocurrencies, as well as the experience of legal regulation of the turnover of cryptocurrencies in the Russian Federation. As a result of the study, the author identified a gap in the legal regulation of taxation of cryptocurrencies in the Russian Federation, in comparison with the legal regulation of the Republic of Malta. Public relations arising in connection with the turnover of cryptocurrencies are not fully regulated in any country of the world at the moment, including in terms of taxation of transactions using cryptocurrencies. In this connection, it is necessary to take into account the foreign experience of legal regulation of taxation of cryptocurrency turnover, including the Republic of Malta. The problem lies in the fact that amendments to the Tax Code of the Russian Federation have not been adopted at the moment, which would regulate the taxation of cryptocurrency turnover in the Russian Federation. The goal of the study is to investigate the experience of legal regulation of taxation of cryptocurrencies of the Republic of Malta and to identify aspects that could be applied to form the legal regulation of taxation of turnover of cryptocurrencies in the Russian Federation. Previously, comparative legal research in this area has not been conducted.
Ageeva A. - Information exchange and other measures on combating tax avoidance and tax fraud pp. 39-48

DOI:
10.25136/2409-7136.2017.9.24074

Abstract: The research subject is the peculiarities of harmonization of national statutory instruments in the sphere of taxation and administrative cooperation between the EU member-states. The research object is the mechanisms aimed at combating tax avoidance and tax fraud. The author studies the instruments of cooperation of the EU members, such as information exchange in accordance with Directive2011/16/EU, which includes information about taxation, declared by parent companies in relation to their subsidiaries, according to countries of location (country reports), and other measures in this field. The initial research methodology is based on the set of scientific methods, which includes the comparative-legal and linguistic methods, the method of analogy, system, logical and retrospective analysis and other general scientific research methods. The author concludes that the institutional-legal mechanism of cooperation of the EU member-states in the field of taxation is the cornerstone of combating tax avoidance, aggressive tax planning, tax default and tax fraud. Cooperation of authorized national bodies improves the effectiveness of functioning of the statutory regulations of the EU law. Information exchange and harmonization of national legislations is the example of successful development of the integration association, which is worth studying for adaptation to the conditions of Russia. 
Titorenko S.K. - Legal regulation of taxation of income of individuals on transactions with digital financial assets pp. 45-54

DOI:
10.25136/2409-7136.2023.4.40507

EDN: QTHVPH

Abstract: The author discusses the features of the legal regulation of taxation of transactions of individuals with digital financial assets of the Russian Federation. As a result of the study, the author identified a gap in the legal regulation of taxation of digital financial assets in the Russian Federation, when comparing the concept of digital financial assets and tokens. Public relations arising in connection with the turnover of digital financial assets are regulated by the CFA Law, while neither legislation nor law enforcement practice has determined whether the provisions of the CFA Law apply to relations regarding objects corresponding to the characteristics of digital financial assets, but issued in violation of the CFA Law. In this connection, it is necessary to determine whether the norms of the Tax Code of the Russian Federation apply to relations with tokens (digital financial assets) that were issued before the adoption of the CFA Law. The problem is that there is currently no explanation regarding the applicability of the CFA Law to the relations that arise regarding digital financial assets (tokens) that were issued before the CFA Law came into force. Goal of the study was to investigate the experience of foreign legislation and law enforcement practice of the Russian Federation and to identify the problems of legal regulation of taxation of income of individuals on transactions of individuals with digital financial assets.
Ostroushko A.V., Timofeeva I.N. - On the need to improve the system of legal regulation of digital assets in the Russian Federation pp. 59-76

DOI:
10.25136/2409-7136.2021.4.35130

Abstract: The relevance of the work is substantiated by heightened interest to digitalization of all sectors of the economy in Russia and the world. This is explained by the fact that the states see an opportunity to earn a competitive advantage and ensure economic stability namely in the new technologies and their rapid implementation in life of the country. This resulted in the development of a range of draft laws aimed at regulating legal relations in the area of digital assets, part of which came into force by 2021. The authors examine the system of legislative regulation of transactions with digital assets, determine its merits and flaws, and carry out comparative analysis with the leading foreign practices. The authors’ special contribution to this research lies in the attempt to develop a unified approach towards understanding the legal nature of digital assets in the Russian Federation, disclosure of the concept and essence of digital assets were revealed, as well as analysis of the promising directions in legislative regulation of digital assets in Russia. The article outlines the problems of regulation of digital assets in Russia, and offers the ways for their solutions. The main conclusions consists in the development of  uniform approach towards the legal nature of digital currencies, description of the specific characteristics of information system the digital assets exist within, as well as substantiation of the need for their legislative consolidation.
Sundetova A.N. - Topical Issues of Regulation of the Initial Coin Offering (ICO) in the European Union and Russian Federation pp. 61-67

DOI:
10.25136/2409-7136.2019.4.29429

Abstract: The subject of the research is the approaches to legal regulation of initial coin offering (ICO) in the European Union (EU) and Russian Federation. In her article Sundetova carries out their legal analysis and focuses on the degree of applicability of securities regulations to ICO, in particular, whether emitters must publish and register issue prospectus. The researcher focuses on regulation of investment activity using digital technologies in the EU and Russian Federation. The methodological basis of the research includes general research methods such as analysis, synthesis, logical and structured functional analysis as well as special research methods such as formal law, legal modelling and comparative law analysis. The novelty of the research is caused by the fact that the author analyzes such specific form of investment activity as ICO in terms of legal regulation of securities market in the EU and Russian Federation. As a result of the research, the author concludes that today's legal regulation of investment activity associated with the use of digital techhnologies has certain gaps and does not fully defend the rights or interests of investors or entrepreneurs who want to attract funds into their projects via Internet platforms. 
Lepshakov K. - Analysis of the legal regulation of cryptocurrencies in Russia. Judicial practice of accounting for virtual money in bankruptcy pp. 82-98

DOI:
10.25136/2409-7136.2023.7.43593

EDN: TWFWDS

Abstract: This article discusses the problem of legal regulation of cryptocurrencies in Russia. It is recommended to create the necessary regulatory conditions for such a financial instrument as cryptocurrencies. Attention is paid to the development of legislation in the field of the use of digital currency in Russia, not only in the direction of prohibition, but also in the direction of creating all the necessary accessible and legitimate conditions for the legitimate use of digital currency (cryptocurrencies) in Russia. The article also addresses the issue of the lack of uniform judicial practice, where cryptocurrency is the subject of dispute. The lack of legislative regulation of the cryptocurrency market in Russia affects the fair judicial protection of holders of crypto assets. The article also reveals the problem of including cryptocurrencies in the bankruptcy estate during the bankruptcy procedure of individuals. Both positive and negative judicial practice is given. † As a result of the analysis, there is a positive developing trend, where the legislator in some legislative acts already defines digital currency as property, and also, in accordance with Article 128 of the Civil Code of the Russian Federation, the qualification of cryptocurrencies as "other property" is given. Thus, with the active development of legislation on the use of digital currency, it is possible to introduce cryptocurrencies into the list of objects of civil rights, where judicial practice on this issue will become more uniform. The purpose and objective of this study is to identify the main problems of legal regulation of cryptocurrencies and ways to solve them in a timely manner through the prism of emerging Russian legislation and emerging judicial practice. The study used the method of analysis of regulatory legal acts, scientific articles and journals revealing the problems of legal regulation of cryptocurrencies in Russia, as well as the analysis of positive and negative judicial practice when using cryptocurrencies by individuals and legal entities. The result of the study is the need for the formation and development of legislation in the field of the use of cryptocurrencies in Russia.
Musatkina A.A. - On financial and legal stimuli pp. 95-111

DOI:
10.7256/2409-7136.2015.8.15929

Abstract: The subject of the research is a sphere of financial and legal stimuli of rightful behaviour of a taxpayer and other subjects of finance law. The object of the research is a range of financial legal relationship in the abovementioned sphere. The author analyzes tax legislation and the related branches of law containing the stimuli of rightful behaviour in the sphere of finance. The author focuses on the post-delictual rightful behaviour and notes that the existing stimuli of this type are not sufficient for the development of rightful behaviour in the sphere of finance. The author analyzes and compares the similar provisions of the foreign legislation. The author uses the dialectical method which allows considering the object and the subject of the research in complex, in their development and dynamics. The research is based on the formal-logical method and the method of comparative jurisprudence. The author claims that the incentive financial sanction is a necessary structural element of an incentive system of finance law which legalizes the amount and the measure of positive responsibility which is a contraction of restrictions imposed on a subject, or exemption of liability. The tendencies of development of legislation should include the amount of financial legal stimuli of rightful behaviour. 
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