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Issue ? 40. October 2013Self-regulating organizations as agents of stock market institutionalizationAlexandra L. TarannikovaGraduate student, School of Public Administration, Lomonosov Moscow State University. The article examines the activity of international and local self-regulating organizations as agents of stock market institutionalization, analyzing their authority, relations with state regulator and possibilities of enforcement. This problem is urgent and scientifically significant, due to the development of financial globalization and complication of market instruments. Self-regulation, because of its expert and efficient character, starts to play an important role in market regulation. The Author analyzes the self-regulation on the Russian stock market, points out the areas of the market there self-regulation becomes essentials due to the transition to the mega-regulator model. The author concludes that self-regulating organizations can be a powerful instrument of stock market institutionalization, giving a powerful boost to the development of Russian stock market.
Stock market institutionalization, self-regulating organizations, exchange, sectored risk-management standards, prudential supervision. Comments:
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