Self-regulatory Organizations Research Articles

Economic and legal aspects of consumer rights protection

The article is devoted to the study of the construction "protection of consumer rights as a component of the economic legal order". The sustainable development of our country can be solved in the context of ensuring the rights of consumers, since the development of the economy is not possible without the reliable functioning of the consumer market. Only a protected and confident consumer is able to create conditions for the sustainable development of the enterprise even in adverse conditions of large-scale military aggression. It is the consumer at the microeconomic level who decides on the direction of his money, thereby exerting a kind of economic influence on business entities. Therefore, the protection of consumer rights cannot be reduced only to the restoration of already violated rights, since this does not allow to prevent their repetition.
 It was concluded that the prevention of violations of consumer rights requires the state to implement a preventive approach to prevent and prevent such violations, which is possible within the limits of ensuring compliance with the economic legal order. For this, the state must ensure compliance with the requirements of legitimate economic activity, in particular, the rules on fair competition and prevent the abuse of a monopoly position and other types of distortion of competition, as well as manifestations of unfair competition in areas of economic activity related to the consumer sphere. These tasks can be solved only under the condition of the introduction of the appropriate state economic policy. In order to ensure the interests and rights of consumers, there should be a consolidated influence of state bodies, local self-government bodies, as well as self-regulatory organizations of business and consumers, which will ensure compliance with high standards of conducting business activities that take place in organizational and economic relations. Also, ensuring the observance of consumer rights should be carried out in the organic interconnection of economic-production and intra-economic rela­tions, as this allows for the creation of a system of compliance with the quality standards of goods, works and services sold to consumers.

Basis for Legislating to Institutionalize Personal Deposit Protection System

The article conducts a legal analysis of approaches to understanding the nature of the powers of the Deposit Guarantee Fund for Individuals, impacting the institutional reform of the respective deposit guarantee system. The author delineates the powers of the Fund. According to the proposed approach, the powers of the Fund regarding the functioning of the deposit guarantee system are divided into two subgroups: managerial and entrepreneurial. Managerial functions aim to institutionalize the deposit guarantee system itself. They are oriented towards the interaction of the Fund with banks participating in this system rather than towards depositors. Entrepreneurial powers essentially represent a specialized form of commercial activity, involving measures to preserve and increase the funds collected from participants in the deposit guarantee system. Powers related to ensuring the functioning of the deposit guarantee system for individuals, both managerial and entrepreneurial, are inherent to the Fund and require further development in accordance with international standards and Ukraine’s European integration commitments. It is essential to ensure a balance between state intervention and self-regulation through market instruments in the relevant sphere. Additionally, regulatory, administrative, and supervisory powers are separately highlighted, primarily concerning the removal of insolvent banks from the market and bank liquidation procedures. During the institutional reform of the Fund, it is necessary to review these powers, taking into account their nature and the constitutional regulation of relevant legal relationships. In particular, it should be noted that the concepts of “deposit guarantee” and “deposit insurance” are legally distinct in nature. This is a crucial aspect that further elucidates the functional orientation of the Fund’s powers, the specific procedure of its formation, and, most importantly, its role and significance in the banking system of Ukraine. It is critically important for the entire deposit guarantee system for individuals, as well as the removal of banks from the market to be legally transparent and predictable. To achieve this goal, all main mechanisms, procedures, and forms of activity should be appropriately regulated at the legislative level. In this regard, the experience gained from the relevant legislative regulation of the activities of state “regulators” and the functioning of self-regulatory organizations in related fields can serve as a basis for further institutional reform of the deposit guarantee system in Ukraine.

Analysis of non-profit corporations' status in the Republic of Kazakhstan

Relevance. This paper holds the scientific and legal analysis of the status of non-profit organisations in the Republic of Kazakhstan in terms of the presence or absence of signs of corporations in comparison with similar legal entities under the legislation of the Russian Federation. The relevance of the subject under study is conditioned upon the fact that the civil legislation of Kazakhstan lacks norms on the definition and types of corporate organisations; and the science of civil law holds next to no studies on the legal status of non-profit organisations as corporations. Purpose. The purpose of this study is to identify the signs of corporations in the legislative acts of the Republic of Kazakhstan on non-profit organisations. Methodology. The study employed a comparative legal analysis and the application of international corporate governance principles to identify and evaluate the corporate characteristics of non-profit organizations in Kazakhstan. Results. The analysis revealed that Kazakhstani non-profit organizations exhibit almost all identified signs of corporations, such as non-distribution of profit among members, rights to participation, and the formation of supreme governing bodies. Special attention is given to self-regulating organizations (SROs), which, due to their public function and compliance with corporate governance principles, are proposed to be recognized as non-profit corporations. Conclusions. Based on the results of the study, the authors conclude about the need to classify self-governing organisations, including associations and unions based on professional membership of participants, notary chambers, bar associations, chambers of private bailiffs, etc., as corporate non-profit organisations.

ВОПРОСЫ НАДЕЛЕНИЯ САМОРЕГУЛИРУЕМЫХ ОРГАНИЗАЦИЙ ПУБЛИЧНО-ВЛАСТНЫМИ ФУНКЦИЯМИ: ПРОБЛЕМЫ И ПУТИ СОВЕРШЕНСТВОВАНИЯ

The article discusses the problematic issues of endowing self-regulatory organizations with public authority functions and powers aimed at exercising delegated functions. The author studies the essence of the representative, regulatory, organizational, accounting, control and jurisdictional functions of self-regulating organizations. The positive impact of the model of legal relations with the participation of self-regulating organizations, state executive authorities and participants of such organizations on the entire system of legal relations in the field of self-regulation is noted. Special attention is paid to the problems and contradictions that occur in the sphere of direct implementation of representative, regulatory functions by self-regulating organizations, as well as unnecessarily cumbersome control over their activities by the state. The ways of improving legislation in the field of performance of delegated public authority functions by self-regulating organizations are proposed. The conclusion is substantiated that the existence of such legislative problems as: the declarative nature of the representative function, excessive state interference in the regulatory function, cumbersome legislation in the field of control and supervision of SRO activities significantly reduces the functional potential of SRO and does not allow achieving the goals set in their activities.

방송·통신 영역에서 자율규제와 법제도 구성에 관한 고찰

Self-regulation can be defined as “an organized business group self-regulating the actions of its members to protect users.” If there is a need to respect the autonomous discipline of the business organization itself in a specific field, it would be good to introduce a self-regulation system. In newly emerging areas, areas that are rapidly changing or areas that require specialized or policy considerations, would be appropriate for business organizations in those areas to self-regulate because existing legal regulations do not reflect reality or cannot properly reflect reality. Even if a self-regulation system is introduced, the degree of legal intervention in the self-regulation system of business organizations may vary depending on the characteristics of the industry. If the scope of the area is diverse or subject to frequent change, the scope of self-regulation may be narrowed due to strong legal intervention, and in areas dealing with detailed, technical, and specialized matters, the private sector should be able to demonstrate efficiency and expertise. It is desirable to reduce the degree of legal intervention through self-regulation. In relation to freedom of speech, due to the constitutional order to guarantee the public’s freedom of expression as much as possible, state regulation should be minimized, and self-regulation by business organizations to replace it is judged to be effective. In addition, due to the emergence of new technologies and technological advancement in the field of broadcasting and communications, regulation by the existing positive system for industries in this field makes efficient industrial development difficult. However, as the provision of information through social media, Internet news, OTT services etc., the side effects caused by digital media exceeded a certain level and reached a level of social conflict and infringement of other people’s rights, countries around the world have started to regulate illegal information through national legal regulations. Self-regulation was judged to be insufficient to prevent the creation and distribution of false information, hate speech, etc. In order for a self-regulatory system to operate properly, it is important to secure the democratic legitimacy of self-regulatory organizations, operational transparency, independence, and enforcement of regulations. The German self-regulatory organization for multimedia service providers is the German Self-Regulation Organization for Multimedia Service Providers(FSM). The German Youth and Media Protection Committee approved FSM, a self-regulatory organizationy, to protect youth from media content. The United States is a country that operates a representative private self-regulation system. However, direct administrative regulations have recently become more prominent in the broadcasting and communications fields due to issues such as unfair trade or monopoly. The UK's self-regulatory organization is the Internet Watch Foundation(IWF). IWF carries out tasks such as deleting posts related to child sexual abuse, blocking access, and preventing search/access, and is operating a hotline as the most basic activity to make this possible. The Australian Communications and Media Authority(ACMA) is the broadcasting and communications regulator. ACMA is a government-affiliated organization and is a co-regulation model between the government and the private sector that supports and cooperates in the establishment of industry codes. The self-regulation system stipulated in Korea’s Information and Communications Network Act is actually close to administrative regulation. It is appropriate for information and communication service provider organizations to determine and implement a code of conduct for information and communication service providers, rather than a matter to be stipulated in the Information and Communications Network Act,

Entrepreneurial activity in the form of rendering services

The article discusses the main types of services as a subject of entrepreneurial activity. The literature discusses the ratio of works and services. The article gives the author’s definition of services. The features of the provision of services, a non-exhaustive list of which is listed in Article 779 of the Civil Code of the Russian Federation, are noted. The differences between consulting and information services are noted. The subjects of the provision of services and the requirements imposed on them (license, membership in a self-regulating organization) are indicated. Professional training is required for the provision of services, where appropriate. Examples of documentary confirmation of the qualifications of a person providing services are considered. Services are provided on the basis of contracts. The characteristic of contracts is given, as well as such conditions as confidentiality, quality of services, quantitative characteristics of services, ways of fixing the identified shortcomings of the quality of services are considered.

Formation of the mechanism of state antimonopoly policy on national consumer markets

The article examines the formation mechanism of state antimonopoly policy on national consumer markets. It was determined that the formation of the state antimonopoly policy takes place according to the state's general economic policy needs. The general economic policy of the state is established depending on the values inherent in the state in each changeable period. Depending on the values of the state, in a certain period, the goals of state regulation in general and goals of antimonopoly policy in particular form. Determined that the mechanism of formation of state antimonopoly policy includes and correlates the interests of state regulation, which correspond to the interests of the market participants majority and the interests of individual business entities. It was determined that the state component of antimonopoly regulation is subject to established norms and rules at the legislative level. Market participants, in addition to the norms and rules established by legislation, are influenced by the institutional environment. They are generally accepted market participants, norms, and rules that are not documented and not mandatory – established that an essential component of the mechanism of state antimonopoly policy formation on national consumer markets is the coordination of regulation between state authorities and non-state self-regulatory organizations consisting of market participants also interested in antimonopoly regulation. It is established that the results of antimonopoly regulation are aimed at the factors of sustainable socio-economic development, which in turn form the general economic policy of the state. Keywords: State regulation, antimonopoly policy, competition policy, mechanism of antimonopoly policy.

Self-regulation of audit activity: current state and development prospects

The proposed article discusses the current state and further development of the institution of audit self-regulation. The features of the system of regulation of audit activity are indicated, which, taking into account world experience, is based on a combination of regulation carried out by the Ministry of Finance of Russia, the Bank of Russia, with a self-regulation mechanism by the professional community of auditors. The features of the legal status of the self-regulatory organization of auditors are determined from the standpoint of its special functions, rights and obligations. In accordance with the legislation on audit activity, the governing bodies and specialized bodies of the self-regulatory organization of auditors, including the Committee of audit organizations in the financial market, are characterized. The provisions on the control powers of the Ministry of Finance of Russia for self-regulatory organizations are outlined. Attention is paid to assessing the real state of audit self-regulation, taking into account the negative trends that can be traced today in the field of audit self-regulation. The prospects for the development of self-regulation as “the main institution of the audit profession”, which will significantly reduce the negative trends of the current period of audit selfregulation, are determined.

Диагностика и развитие готовности к конкуренции

One of the tasks of modern education is to prepare future specialists for competition. At the same time, the em-pathy and humanistic values of representatives of socionomic professions make them relatively more vulnera-ble to the stress of competition, including the need to regularly maintain their competitive ability. Objective: to study students’ readiness to compete and to develop psychological means of its development. Methods: “The level of competitiveness”, “The level of ability to self-learning and self-education” (V.I. Andreev); correlation analysis. Sample: 46 students studying socionomic professions. Results: The prevalence of students’ average level of competitiveness and ability to self-education is revealed. A set of psychological education measures is developed, contributing to the formation of adequate ideas about competition, about the qualities that hinder self-education and competitiveness, the formation of skills of organization of developmental leisure and self-regulation in stressful situations, the development of productive solutions and the implementation of competi-tive interaction. Available methods are used, recommended for the activities of the psychological service and in the teaching of special courses in psychology.

Содействие достижению целей устойчивого развития и трансформации российского бизнеса посредством разработки новых финансовых инструментов

The article discusses the development of practices for the integrated application of ESG standards in the financial market, directly to the activities of financial organizations, as well as to financial instruments. The existing standards of self-regulating organizations are considered and proposals for the formation of a new accounting standard ESG are formed. ESG ratings are considered. Proposals have been formed for the development of new financial instruments and their reflection in legislation.

A rent‐limiting design of professional self‐regulation

AbstractWe consider a government that purchases a public good or a private good for public consumption from a heterogenous group of professionals (such as scientists, doctors, or lawyers) in an environment characterized by an extremely high level of information asymmetry. Specifically, we assume that the government needs information from a self‐regulatory organization (SRO) of agents (such as a research council, a medical board, or a bar association) to draft the contract. We show that the government information disadvantage is minimized when the SRO is dictatorial, that is, when it follows the preferences of the efficient agents.

Self-Regulation in Advertising: Foreign Experience, Opportunities and Limits of its Use in Russia

The article presents the results of a study of the formation and development of the institution of self-regulation in the field of advertising in a number of foreign countries.The authors give a general description of widely recognized international standards in the field of advertising and marketing, study the experience of organizations that actively influence the development and coordination of advertising self-regulation processes. The article also discusses the most valuable mechanisms and practices for Russia used by foreign self-regulatory organizations in the field of advertising.Taking into account the results of the analysis of the practice of applying the institution of self-regulation, the authors substantiate the expediency of assigning a broader competence to the institution of self-regulation in the field of advertising in the legislation of Russia.

Инновационные подходы к разработке организационно-технологической документации в транспортном строительстве

Purpose: To determine modern innovative composition of organizational-technological documentationat large transport facility construction. To hold the analysis of branch regulatory-technical documentation,relevant self-regulatory organization requirements. To define classification and specifics of the constructionof new types of large transport facilities which for, organizational-technological documentation is developed.To determine the relevance and practical applicability of documentation as a part of WPP (work productionprojects). To outline the basics of the preparation of transport facility construction organization which comprisesproduction-economic, technological and managerial infrastructure of contractor construction organizations,defines the system of relations between relevant subdivisions of general- and sub-contracting constructionalenterprises. Methods: Questionnaire and expert survey of engineering-technical workers of constructionalorganizations. Expert evaluation of production documentation, probabilistic modeling at the evaluation ofproduction processes, methods of multi-criteria evaluation of organizational-technological documentationvariants. Results: Main requirements to organizational-technological documentation composition for newtypes of modern transport construction facilities are formulated. Foundations for branch methodologicaldocuments on organizational-technological preparatory of work of contracting construction organizations havebeen developed. Practical significance: Efficiency improvement of large transport facility construction. Onthe basis of innovative organizational-technological solutions, prime cost of constructive-installing works isreduced and construction time is cut.

Соотношение административной и дисциплинарной ответственности арбитражных управляющих

In the article the problem of correlation of administrative and disciplinary responsibility of insolvency officers. Legal regulation of administrative and disciplinary responsibility of insolvency officers was analyzed and compared. The author argues the possibility of removing from the sphere of administrative responsibility of relations, which are the subject of disciplinary control of self-regulatory organizations of arbitration managers.

Энергосбережение и повышение энергетической эффективности: баланс государственного надзора и саморегулирования

The article presents an analysis of the theory and practice of state regulation and market selfregulation in the field of energy saving and energy efficiency improvement, their evolution and balance changes, the periodization of the development of domestic legislation and control, analysis of the practice of implementing control and supervisory measures in Russia and the Volgograd region. The current trend in the field of energy saving and energy efficiency improvement is characterized by a shift in priority from state supervision and administrative regulation to digital monitoring and market self-regulation, in which appropriate measures can achieve the set goals faster and at a lower cost. The coverage of the self-regulation processes of the entire business community, rather than its individual representatives, will not only ensure more reliable and high-quality fulfillment of contractual obligations but also increase the competitiveness of the domestic energy sector as a whole. The tasks of self-regulatory organizations in the energy sector may include participation in the development of a regulatory framework, information support, consulting in the field of personnel training, and voluntary agreements in the field of ecodesign. It is revealed that in Russia and the EAEU countries, there is a significant potential for energy saving and energy efficiency improvement through the formation and development of a largely self-regulating ecodesign system for energy-consuming goods.

On the correlation of terms: «state regulation», «self‑regulation», «legal regime of economic activity»

The focus of this article is the analysis of the correlation of related categories: «state regulation», «self-regulation», «legal regime». The authors reveal their content, refracting it through doctrine and law. At the same time, the constitutive features of the category “legal regime” and its varieties are noted; self-regulation models of their modification are revealed, as well as trends and prospects for the development of the institution of self-regulation. Analyzing these issues, the authors come to the conclusion that self-regulation and the legal regime of economic activity are inextricably linked with state regulation and are its continuation with certain models of implementation. Self-regulation is introduced where the state decides to transfer its powers to self-regulatory organizations in certain areas of business or professional activity. The legal regime of economic activity is implemented by the state in cases where it is necessary to establish a procedure for regulation in a certain area of the economy.

Legal Approach to International Cooperation on Cloud Storage of Personal Information

The development of information technology has accelerated the process of globalization and has also internationalized the issue of personal information storage and protection. Personal information can be stored in a cross-border cloud based on the development of Internet technology. However, the separation of the controlling place and the storage place of personal information has brought new challenges to the international regulation of personal information protection. For example, the conflict of legislation, law enforcement, judicial jurisdiction, and the exercise of cyber sovereignty between different countries, etc. In order to strengthen international cooperation on the safety of personal information, it is recommended to promote the sharing of cloud storage of personal information by establishing international self-regulatory organizations, constructing a safety line for the protection of the private rights of information, creating the principle of confirming interests before the usage of information and strengthening the mechanism of punitive compensation in malicious commercial use, etc. It is important to further improve domestic unified legislation and clarify the extraterritorial effects of domestic laws. And introduce data controller standards under the principle of international comity to break the inherent territorial jurisdiction principle. Besides, it is also very necessary to establish and improve the graded and classified management and early warning mechanism for the commercial use of personal information stored abroad. Finally, it is important to take an active part in international negotiations and strive for the right to make international rules on personal information protection.

사모펀드 사태에서 펀드 운용구조상 문제점 및 개선방안

Lime Asset Management Co. Ltd., Optimus Asset Management Co. Ltd., and Discovery Asset Management Co., Ltd. are the main asset managers in the so-called private fund crisis. In this article, we look at common illegal acts in the fund management structure, and analyze the relationship between the structure and the illegal acts. The three asset management companies all had one thing in common: investment money reached the final investment target assets via a conduit functioning as a reservoir. Plus, all three asset management companies have either finalized sentence or are in the criminal process on fraud due to Ponzi-Scheme, and have received administrative sanctions or are suspected of violating the Public offering regulations. It is analyzed that the reason for such a common phenomenon is that the conduit functioning as a reservoir can play a key role in helping fraud and violation of the public offering regulation.
 In addition, in the Optimus case, a criminal trial is underway as it is suspected that the Ponzi scheme was caused by the integrated management of trustee accounts, and Discovery is suspected of reducing investors' access to information by using an additional conduit.
 In this article, I would like to suggest three specific ways to improve these problems. The first is to establish a new regulation that shall be deemed to a public offering when debt securities issued by the same issuer are invested in two or more funds and to amend the regulations to include detailed information on conduit in the registration statement. The second is to put a provision to clarify the meaning of separate management obligations in the key specifications. Thirdly, if the fund uses a conduit, it is to limit the establishment of the fund through a self-regulatory organization, and if a fund is established, strengthen the description of the conduit.

Self-regulatory organizations in economic and trade activities

Self-regulatory organizations in economic and trade activities

A Strategy for the Implementation of the Compliance System in the Activities for Maritime Transport Enterprises

The article considers foreign experience of implementation of compliance programs for maritime transport enterprises. The important role of analysis is explained by the ability to evaluate the results and develop a strategy and tactics for the development of the enterprise, anticipate risks and prevent eventual bankruptcy. Strategy is a complex and powerful weapon with which a modern firm can withstand the conditions of a changing environment; this is a tool that can provide a serious help to an enterprise caught in conditions of instability. Therefore, strategy deserves the most serious attention as a management tool. Compliance control ensures the protection of the economic interests of the enterprise from potential risks in the early stages, which simplifies the neutralization of such risks. The compliance program of a stevedoring company includes a code of conduct, anti-corruption policies, as well as other documents and procedures necessary for the company to achieve its compliance goal (compliance documents). The company’s compliance program (Compliance System) is a universal recognized international system of threats counteraction and risk management, which ensures compliance of the company’s activities with the requirements of the State bodies, self-regulatory public and other organizations, compliance with the rules, recommendations and standards governing the company’s activities. The compliance program includes many compliance measures to ensure the achievement of the goals of the compliance program. Compliance measures represent a management and control system in an organization related to ensuring that the organization’s activities and personnel comply with the requirements of legislation, normative regulations, rules and standards of supervisory authorities, industry associations and self-regulatory organizations (codes of conduct, etc.). Work on creating a compliance program for maritime transport enterprises must necessarily lead to an understanding of the company’s own development strategy and to success, as it forces to answer strategically important questions, such as: identification of external and internal factors affecting risks; legal restrictions and regulations; court decisions; voluntary verification of compliance with relevant industry standards. The main requirements of compliance – business transparency, adherence to the legal and ethical norms and regulations – must be implemented by a management system (compliance program) that can be built and implemented in practice.