The thesis is devoted to the consideration of the legal nature of economic and legal liability in investment legal relations, the specifics of its regulation and implementation.
The essence of investments as a legal category is defined, the essence, specific features and classifications of investment activities, risks arising in investment, their impact on the responsibility of investment entities, as well as the essence, content and specific features of economic and legal liability in investment relations are investigated. On the basis of the generalisation of theoretical views and practical aspects of regulation of investment relations on the securities market, in the activities of joint investment institutions, in the privatisation of property and in the legal relations of the concession, specific investment risks are identified, circumstances of violation of investment obligations and efficiency of economic and legal liability enshrined in the current legislation of Ukraine, taking into account the provisions of foreign and international legislation.
The peculiarities of the responsibility of participants in investment relations on the basis of the analysis of the transformation of the content of economic and legal liability under the influence of the peculiarities of the composition of investment relations are defined.It is established that the investment legislation of Ukraine is characterised by excessive positivism in terms of the responsibility of participants in investment legal relations, as a result of which the interests of the parties to such obligations are not adequately protected, and bringing the guilty party to economic and legal responsibility does not entail the restoration of the rights and legitimate interests of the affected party.
Means of protecting the interests of participants in investment activities with legal instruments of liability at existing risks in investment on the example of the largest part of the investment market - the securities market - are investigated. It has been concluded that the actual market condition is the existing opacity. In such a case, the interests (which may not include an investment goal) of owners and creditors of financial intermediaries at the first level of investment capital flows are affected, who at the next level, as investors, place funds at their own risk, or not to fulfil the order of customers. The analysis of international legal acts on this and related issues has led to the conclusion that entrepreneurial activity carried out in a business company directly related to the obligation of founders, managers, and other authorised persons to properly take into account all risks arise in the process of various economic legal relations. In this aspect, the terminology and essence of such phenomena as the principle of "dismediation," "corporate veil," "corporate mask" was revealed, the essence of which is that by decision of any legal entity there is an individual (individuals), in fact, the burden of responsibility for the decisions made or fulfilment of obligations by a legal entity.
The practical significance of the results of the study is that the conclusions, proposals and recommendations formulated in the thesis are a significant contribution to the theory of economic law and can be used: in law-making activities - to improve the provisions of the Economic Code of Ukraine and other regulations governing investment activities and economic and legal liability; in research work - for further research on the problems of legal regulation of liability in the field of investment activities; in law enforcement activities - by applying them in their activities by national law-building bodies when considering relevant categories of cases; in the educational process - in the preparation of curricula, relevant special courses, writing textbooks and textbooks on the courses "Commercial law" and "Investment Law".
