In the Russian Federation, to regulate the access of retail investors to the stock market, they are divided into the groups of qualified and non-qualified investors. This sector has experienced substantial regulatory changes in the last two years and is still adjusting to the specific features of the Russian securities market in response to newchallenges.The article considers the categories of investors established in the Russian Federation, financial products available for investment, and peculiarities of admission to operations with certain categories of products.The paper analyzes the regulatorypolicyaimed at achieving such goals as retail investor protection and the development of the securities market.The author suggests ensuring that the investment opportunities are matched with investor’s knowledge and experience,as well as limiting the possibility of brokers’ potential abuse. It is noted that the requirement to make informed investment decisions should be applied to all investors equally,and the organization of investor testing due to the obvious conflict of interests cannot be delegated to brokers, independent organizations should be involved in this process.
TRAVIN GEORGIY D.
“F1-Novaya bukhgalteriya” LLC
Publications of the author
In the journalp. 46-53
LEGAL ISSUES OF THE PROTECTION SYSTEM FOR THE UNQUALIFIED INVESTORS IN THE SECURITIES MARKET OF THE RUSSIAN FEDERATION
G.D. TRAVIN
The article considers the dynamics for forming the retail investment segment in the Russian Federation, the regulatory acts in force to regulate it, and the measures taken by the state to provide additional legal protection for individuals on the securities market. There is an acute issue of the low level of financial literacy of Russian citizens. As a result of the analysis of the current system for protecting the rights and legitimate interests of unqualified investors, the author identified existing problems and proposed possible ways to solve them. It is noted that a distinctive feature of the stock market is the extremely high level of risk of financial losses. Due to the fact that only professionals are allowed to trade, regular citizens are forced to use the broker services. The brokerage agreement, despite its significance, is the most undeveloped area of legal regulation of investors’ activities in the securities market. The rights and guarantees of the legitimate interests of unqualified investors in the provision of brokerage services are also not clearly established. According to the author, a possible solution would be the introduction of a special regulation of the brokerage contract at the legislative level and the consolidation of minimum guarantees of compliance with the interests of clients.
p. 90-94
OBLIGATION OF THE CARGO CARRIER TO BRING THE VESSEL TO A SEAWORTHY STATE:PROBLEMS OF LEGAL REGULATION
G.D. TRAVIN
The bulk of cargo in international trade is transported by sea. The demand for maritime freight and their importance forensuring international economic relations are only growing with the expansion of foreign trade and the deepening of the worlddivision of labor. The general interest in merchant shipping in Russia is also supported by one of the priority state projects - thedevelopment of the Northern Sea Route. For the carriage of goods by sea, the most important and primary duty of the carrier must be to bring the ship to seaworthiness. The purpose of the article is to conduct a comparative legal analysis of the sources of domestic and international lawgoverning the carrier's duty to bring the vessel to a navigable state and to identify problems existing in the regulatory frameworkof this institution, as well as problems arising during the implementation of the considered duty by the parties of the contract forthe carriage of goods as foreign economic deal. The author believes that the legislator should bring these provisions in line with the Hague-Visby rules or explain the procedurefor the application of these rules in the decision of the Plenum of the Supreme court of the Russian Federation. Another problem considered, which greatly complicates the procedure for the implementation of relations for the carriage ofgoods by sea and puts the parties in a position in which there are no guarantees of the performance of each of their obligationsin relation to the other, is the real nature of the contract for the carriage of goods by sea. Due to the displacement of the momentof the agreement, the carrier has no guarantees that the ship submitted by him will be demanded, and the shipper does not haveguarantees that the vessel for loading in proper condition will be presented for the transportation of the cargo declared by him.
