Legal aspects of the functioning of the financial market of Russia

Abstract

Analyzing various approaches to understanding the legal nature of the financial market, the authors study the features of the functioning of the Russian financial market. Consideration of the peculiarities of the emergence and fulfillment of financial obligations in the sphere of the financial market functioning allows the authors of the article to identify a number of problems and determine the main directions for their resolution. The use of research methods, including analysis and synthesis, the formal legal and comparative legal methods, allowed the author to conclude that the financial market is a system of economic relations aimed at accumulating and redistributing financial resources through the formation and fulfillment of financial obligations. based on credit, insurance, budgetary, fiscal and investment mechanisms in order to ensure stable economic development of the state. It is substantiated that the formation and execution of issuing financial obligations takes place in the conditions of the splitting of the functions of the regulator of money emission between the Central Bank of the Russian Federation, the budget system and financial development institutions, which leads to the creation of schemes for transferring money to the economy, bypassing the banking and budget system, preventing the Bank of the Russian Federation achieve the key objectives of the implementation of monetary policy. According to the authors, the urgent need is the creation of a single investment center within the national economy, focused on eliminating underfunding and undercrediting of economic entities and their associations.