Kuznietsova E. Financial and legal regulation of the activities of professional participants in the securities market

The dissertation is devoted to the complex research of financial and legal regulation of activity of professional participants of the securities market. It is proved that the securities market (hereinafter – RCP) is the basis for economic development for any country in the world. This market provides free movement of financial resources from one sector of the economy to another. The same free flow of capital, using the RCP, is carried out at the interstate level. In addition, the RCP provides stabilization of the economic system of the country, increases the capitalization of certain sectors of the economy in the state. At the same time, the domestic RCP today, unfortunately, is not investment-capable: non-transparent regulation of the RCP, unpredictable fiscal policy, violation of investors' rights in financial markets - all this does not promote professional RCP participants, as well as the latter's entry to the interstate level. Different positions of scholars on the concepts of stock market and securities market are considered, some indicate that they are identical concepts, others support the concept that they are different concepts. We support the position that these are two different concepts, as the securities market is the basic foundation of the stock market and the modern securities market can appear only through the stock market.