PRUDENTIAL SUPERVISION OF THE PROFESSIONAL PARTICIPANTS IN SECURITIES MARKET: CONCEPT AND CONTENT
Journal Title: Юридичний науковий електронний журнал - Year 2017, Vol 6, Issue
Abstract
It’s been recognized that the government needs to regulate the stock market. The scope and content of such influence is forming an essence of the government control of the stock market. The stock market participants are issuers investors self-regulatory professional organizations. Among listed above entities the self-regulatory organizations are the ones to have the government control in the stock market since the credibility of their performance influences the market stability. In order to achieve such stability the National Securities Commission adopts prudential regulations for the participants. It must be noted that the control over participants will be unsecured for the lack of supervision. That’s why the Comission has a right to implement prudential supervision over the stock market entities in order for the participants to comply with the regulations. Based on the definition analysis of the prudential regulations in the financial stock markets which is written in the law and offered in the economic and legal literature, the purpose and understanding of the regulations over the stock market participants is defined. Thanks to the implementation of the prudential regulations by the self-regulatory professional organizations of the stock market the financial discipline is ensured. Based on the analysis of the laws it’s determined that the essence of the prudential regulations of the stock market lies in the interaction between the National Commission on securities and stock market and participants in connection with a control over the compliance of the prudential regulations and balance them in accordance with the statutory requirements in case of the deviation. It should be understood that the measure system under the prudential control over the participants by the National Commission on securities and stock market directed to comply with the legal requirements, level of the creditworthiness of the professional participants and factors. It is influenced by the stability analysis of the stock market and implementation of measures for the participants to prevent their inability to pay in order to protect investors and to stabilize the stock market.
Authors and Affiliations
М. В. Плотнікова, А. І. Калусенко
Keywords
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