Some Issues of Criminal Law Protection of Securities Circulation
Abstract
Relevance. In the crisis conditions of the modern economy, the stock market becomes extremely important: its state, including the degree of security, determines the investment attractiveness of the state. Active and safe circulation of financial instruments allows businesses to receive additional capital investments, investors-the expected profit, citizens-to save and increase the free money supply, and the state provides additional income tax payments.
The purpose of the work is to determine the criminal law mechanism for protecting the circulation of securities in the Russian Federation.
Objectives: to give a legal description of criminal encroachments on the procedure for securities circulation (including solving the problems of differentiation from General norms), to compare the legislation of the Russian Federation regulating the circulation of securities with the similar legislation of some other States, to determine the sufficiency and necessity of the existing system of criminal law norms by which the securities circulation is protected.
Methodology. In the course of the work, the methods of comparative, systemic and structural-functional analysis, systematic interdisciplinary analysis and synthesis were used. The study was conducted using the general philosophical methods of induction and deduction, the comparative legal method.
Results. The study revealed that the existing system of criminal law norms aimed at protecting the circulation of securities does not meet the challenges of the modern reality of the stock market, and the approaches used by the legislator to build criminal law prohibitions are not relevant to the original norms of civil and financial law.
Conclusion. It is necessary to formulate a rule aimed at protecting the circulation of securities in such a way that it covers both price manipulation and insider trading, while considering the special characteristics of the subject of the crime.
About the Author
Nikolay N. Ryzhenkov
Voronezh State University
Russian Federation
Russian Federation
Post-Graduate Student of the Department of Criminal law
1 Universitetskaya square, Voronezh 394018
References
1. Lopashenko H. A. Prestupleniya v sfere ekonomicheskoj deyatel'nosti. Kommentarij k glave 22 Ugolovnogo kodeksa RF [Crimes in the sphere of economic activity. Commentary to Chapter 22 of the Criminal Code of the Russian Federation]. Rostov-on-Don, Feniks Publ., 2007. 384 p.
2. Lopashenko H. A. Novye prestupleniya v otnoshenii ucheta prav na cennye bumagi [New crimes in relation to the accounting of rights to securities]. Sledovatel' = Investigator, 2010, no. 9 (149), pp. 14–21.
3. Volzhenkin B. V. Ekonomicheskie prestupleniya [Economic crimes]. St. Petersburg, Yuridicheskij centr Press Publ., 1999. 312 p.
4. Volzhenkin B. V. [Some questions of the general characteristics of crimes in the sphere of economic activity under the Criminal Code of the Russian Federation]. Aktual'nye problemy nauki i praktiki kommercheskogo prava. Sbornik nauchnyh statej [Actual problems of science and practice of commercial law. Collection of scientific articles]. Is. 5. St. Petersburg, Volters Kluver Publ., 2005, pp. 332–346. (In Russ.)
5. Zhalinskij A. E. Ugolovnoe pravo v ozhidanii peremen: teoretiko-instrumental'nyj analiz [Criminal law awaiting change: a theoretical and instrumental analysis]. Moscow, Prospekt Publ., 2009. 400 p.
6. Kudryavcev V. N. Izbrannye trudy po social'nym naukam. Vol. 3: Politologiya, ideologiya, etika [Selected Works on Social Sciences. Vol. 3: Political Science, Ideology, Ethics]. Moscow, Nauka Publ., 2002. 426 p.
7. Maksimova I. E. Izgotovlenie ili sbyt poddel'nyh deneg ili cennyh bumag (fal'shivomonetnichestvo): kriminologicheskij i ugolovno-pravovoj aspect. Avtoref. diss. kand. yurid. nauk [Manufacture or sale of counterfeit money or securities (counterfeiting): criminological and criminal-legal aspect. Abstract cand. legal sci. diss.]. Vladivostok, 2005. 26 p.
8. Kirillova A. B. Nekotorye problemy opredeleniya ponyatiya "cennye bumagi" [Some problems of defining the concept of "securities"]. Sovremennoe pravo = Modern Law, 2009, no. 1, pp. 22–24.
9. Klepickij I. A. Ugolovno-pravovaya ohrana investicij na rynke cennyh bumag [Criminallegal protection of investments in the securities market]. Zakonodatel'stvo = Legislation, 2003, no. 12, pp. 59–64.
10. Talan M. V. Otvetstvennost' za prestupleniya na rynke cennyh bumag po ugolovnomu pravu Rossii [Responsibility for crimes on the securities market in the criminal law of Russia]. Uchenye zapiski Kazanskogo gosudarstvennogo universiteta. Seriya: Gumanitarnye nauki = Proceedings Kazan University. Series: Humanities, 2010, vol. 152, no. 4, pp. 187–197.
11. Fedorov A. Yu. Sovershenstvovanie ugolovno-pravovogo mekhanizma protivodejstviya nezakonnoj dopolnitel'noj emissii akcij [Improving the criminal-legal mechanism for countering the illegal additional issue of shares]. Rossijskij sledovatel' = Russian Investigator, 2010, no. 12, pp. 19–22.
12. Verbickaya H. A. Zloupotrebleniya pri emissii korporativnyh cennyh bumag. Diss. kand. yurid. nauk [Abuses in the issue of corporate securities. Cand. legal sci. diss.]. Krasnoyarsk, 2007. 192 p.
13. Turyshev A. A. Informaciya kak priznak sostavov prestuplenij v sfere ekonomicheskoj deyatel'nosti. Avtoref. diss. kand. yurid. nauk [Information as a sign of the composition of crimes in the sphere of economic activity. Abstract cand. legal sci. diss.]. Omsk, 2006. 23 p.
14. Shcherbakov A. V. Ugolovno-pravovye problemy bor'by s prestupleniyami v bankovskoj sfere. Avtoref. diss. kand. yurid. nauk [Criminal-legal problems of combating crimes in the banking sector. Abstract cand. legal sci. diss.]. Vladivostok, 2003. 25 p.
15. Gajbaryan M. M. O sisteme norm, reglamentiruyushchih otvetstvennost' za prestupleniya v sfere obespecheniya finansovoj bezopasnosti v Ugolovnom kodekse Rossii [On the system of norms regulating responsibility for crimes in the field of financial security in the Criminal Code of Russia]. Yurist"-Pravoved" = Jurist-Jurist, 2010, no. 5, pp. 37–40.
16. Mironyuk I. V. Predmet prestuplenij, sovershaemyh na rynke cennyh bumag [The subject of crimes committed on the securities market]. Probely v rossijskom zakonodatel'stve = Gaps in Russian Legislation, 2011, no. 6, pp. 212–217.
17. Lyaskalo A. N. Obshchestvenno opasnye posledstviya manipulirovaniya rynkom i nepravomernogo ispol'zovaniya insajderskoj informacii [Socially dangerous consequences of market manipulation and illegal use of insider information]. Bezopasnost' biznesa = Business Security, 2018, no. 5, pp. 19–25.
18. Bikbulatov T. I. [Criminal Law protection of insider information in Russia]. Ugolovnoe pravo i sovremennost'. Sbornik statej [Criminal Law and Modernity. Collection of articles]. Moscow, Yurist Publ., 2012, pp. 19–27. (In Russ.)
Review
For citations:
Ryzhenkov N.N. Some Issues of Criminal Law Protection of Securities Circulation. Proceedings of Southwest State University. Series: History and Law. 2021;11(2):68-79. (In Russ.)
Views:
112
Email this article 