Megaregulatory Approach to Financial Market Regulation in Abroad and in Russia in 2018

Abstract

One of the apparent aftermaths of the 2007–2009 global economic crisis was a lack of coordination between supervisory financial authorities. The previous general supervisory requirements had been found to be inadequate, raising a whole host of questions about its effectiveness. The ‘too big to fail’ issue came to the fore, while theantitrust regulation of mergers and acquisitions in the financial sector was ultimately thought to be too ‘soft’. Stepping up the adoption of unified (“mega”) financial regulators became an alternate solution to the problem.

Keywords: Russian economy, regulation, financial market

JEL Classification: E44