PROPORTIONAL REGULATION AND RISK-ORIENTED SUPERVISION OF THE FINANCIAL MARKET: THEORY AND PRACTICE

Abstract

The vectors of proportional regulation and risk-oriented supervision of the financial market are considered. It is shown that the dominance of the centralization or decentralization vector is largely determined, firstly, by the prevalence of the applied method of managing the financial and economic system of the state (the method of “manual mode” of management or the method of “management in automatic mode”), and secondly, by the type of state devices in the country (unitary, federal, confederal). In modern Russia, it implements the Concept of centralization of regulation and risk-based supervision of the activities of financial organizations in the context of the formation of civil society institutions. This Concept, proposed by the Russian mega-regulator (Bank of Russia), according to our research, is aimed at implementing a mechanism for further centralization of regulation and concentration of the financial market in Russia.