Paper/Speech Details of Conference Program for the 29th NISPAcee Annual Conference Program Overview PhD Pre-conference Seminar Author(s) Aynur Biktashev Masaryk University Moscow Russian Federation Title The impact of direct regulation tools on the protection of the interests of a private investor in the USA, China and Russia (on the example of brokerage) File Paper files are available only for conference participants, please login first. Presenter Aynur Biktashev Abstract Quality and transparency of the financial market to a large extent determines the success of the economic development of the country. The financial market must be competitive and at the same time safe for the investor. Therefore, the state should control it, but not hinder development. Regulation is the main method of the state in this case. However, an increase in prohibitions and restrictions in the financial market leads to the transfer of costs to clients, which leads to a decrease in their profitability. Brokers can also comply with the requirements formally, bypassing the prohibitions. For the effective development of the financial market, it is necessary to assess the impact of the existing direct regulation on the activities of brokers. This will include: determination of direct regulations in relation to brokers; determination of the risks to which the regulation is directed and the indicators characterizing them; analysis of the impact of direct regulations on the risks of brokerage activities; identification of problems with regulation of brokers; assessment of the possibility of replacing direct regulation instruments with indirect instruments of influence; proposals for improving regulation.
