Меры противодействия недобросовестным торговым практикам на зарубежных биржевых товарных рынках

Abstract

Currently, one of the reasons for the increase in fuel prices at trading on exchanges is the use of unfair exchange practices by trading participants, which has been repeatedly emphasized by the Russian Ministry of Energy and the Federal Anti-Monopoly Service. The concept of “unfair trading practices” is not enshrined at the level of statutes and regulations of the Russian Federation, and therefore, exchanges determine actions that relate to such practices at their own discretion, which entails, in particular, regulatory risks for exchanges, and may negatively affect the market as a whole. This article analyzes foreign practice in terms of the level of enshrinement of types of unfair practices: the legislative and/or local level, as well as analyzes the types and criteria of unfair practices in order to further analyze the implementation of foreign experience in Russian laws or local instruments of exchanges. As a result of a comparative legal analysis, it was revealed that in each jurisdiction there is regulation of unfair practices both at the legislative level and at the level of trading rules, their types and criteria are established, which allows us to conclude that the regulation of unfair behavior in stock trading is an area in which the participation of both an exchange and the state is required, including in terms of establishing criteria and types of such behavior.