/ / Federal Service for Financial Markets (FSFM)

The Federal Service for Financial Markets (FSFM)

The state is an integral politico-legal,multifunctional structure. Directions of its direct activity concern all spheres of life of the population. An example of such a state is the Russian Federation. It is a progressive democratic civil country in which the main source of regulation of public relations is law. It should be noted that one of the most important functions of the state is oversight and control in certain areas. These tasks are implemented by the country constantly, through special authorities. In the system of similar departments there are structures whose tasks differ in their specificity and, in some ways, even uniqueness. As a rule, such special organs operate in no less interesting spheres of life. At the same time, their existence is necessary, because the task of coordinating the society has not been canceled. Among such bodies today is the Federal Service for Financial Markets. This body is relatively young in the Russian Federation. Its creation is conditioned by the modernization of modern legal relations and the emergence of new spheres of activity.

the Federal Service for Financial Markets

The concept of an organ

The Federal Service for Financial Markets isan organ of the executive branch of power, which implements functions aimed at regulatory regulation of the financial markets. To date, the structure is non-existent due to the abolition in 2013. Nevertheless, for a long period of existence, the service actively struggled with various manipulations in the financial markets, and also carried out supervision in this area.

Federal Service for Financial Markets of the Federal Financial Markets Service

History of the creation and development of the body

The Federal Service for Financial Markets appearedin the distant 2004 due to the Decree of the President of the Russian Federation. The department, in its essence, was a "team". In other words, the structure of its functional included the tasks of other bodies, subsequently abolished. Thus, the Federal Service for Financial Markets took over the functions of the following structures, namely:

  • Commission for the Securities Market;
  • Ministry of Labor of the Russian Federation;
  • Ministry of RF on antimonopoly policy.

In 2011, the service undergoes a reformation.The agency responsible for insurance supervision is included in its structure. But in 2013 the FSFM is abolished and joins the Central Bank, and subsequently - to the Bank of Russia. To date, there is the Bank of Russia Service.

Federal Service for Financial Markets of Russia

Normative base

The Federal Service for Financial Markets (FSFM)acts on the basis of the provisions of certain normative acts of our state. This manifests the principle of the rule of law and legality in the activities of the department. The main normative acts, the provisions of which are used in its work, are:

  • The Constitution of the Russian Federation, since it is the basis of the entire legal system of the country;
  • federal laws, constitutional laws ("On the securities market", "On joint-stock companies", etc.);
  • acts of the government, the president;
  • international treaties;
  • Regulations on the FSFM.

Стоит отметить, правовая база деятельности службы is quite extensive. This significantly affects the activities of the department, and, more precisely, the breadth of its immediate powers. At the same time, a competent regulatory framework makes it possible to implement all functions as accurately as possible, fully and quickly.

Federal Service for Financial Markets of Russia: functions

The list of functional tasks mentioned inThe article of the department is quite extensive. As we have already pointed out, the objectives of the main activities of the service included goals previously owned by other executive bodies. Key functions are stipulated in the Regulation on the FSFM. On the basis of the statements that are indicated in it, it can be stated that the Federal Service for Financial Markets is created for:

  1. Issue and registration of special securities, prospectuses of these documents, as well as the creation of reports on this activity.
    The Federal Service for Financial Markets
  2. Ensuring the openness of information on the market in accordance with the provisions of Russian legislation.
  3. Implementation of supervision of professional players in the securities market, investment funds of the investment nature, non-government pension funds, etc.
  4. Implementation of supervision and control in the field ofactivities of an insurance nature, which includes the maintenance of the Registry of Insurance Subjects, the issuance of licenses to brokers, insurance companies, control over the actual implementation of sectoral regulations, and so on.

Как мы видим, Федеральная служба по финансовым markets (FSFM) of Russia has an extensive list of functional tasks, which indicates its exceptional efficiency in the sphere of the relevant type of regulation.

Structure of the FSFM

Any state body has its ownfunctional structure, which allows him to implement all tasks in the best possible way and efficiently. The Federal Service for Financial Markets consists of a central apparatus and autonomous bodies of territorial importance. The system of the first element includes: management of equity securities, management of the organization and conduct of supervisory activities, administrative management, etc. That is, the central office assembled the main units in all areas of the service.

Territorial bodies allow to carry out the functions of the service on the ground. These units were once located in nine districts of the Russian Federation.

Leadership and International Activities

Как мы знаем, Федеральная служба по финансовым markets is abolished today. Analogy to the STALO body was a structural subdivision in the Bank of Russia. Nevertheless, during its existence, the department managed to gain a certain authority. For example, the FSFM was a permanent member of a special international organization specializing in securities.

the Federal Service for Financial Markets is abolished

As for the management of the service, the lastThe famous leader was Dmitry Pankin. To date, this person is the chairman of the Board of the EDB (Eurasian Development Bank). Most of the service management went to the Central Bank of Russia, except for Pankin.

Federal Service for Financial Markets of the Federal Financial Markets Service of Russia

Conclusion

So, we have considered what isthe once existing Federal Service for Financial Markets. The department carried out important tasks. Therefore, one can only hope that the existing analogue of it will become no less a functional body in the financial sphere of our time.

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