Improving the Financial Control System of Securities Market Professional Participants’ Activities

Abstract

The article provides an overview of the institutional aspects of regulating the securities market professional participants’ activities, allowing to identify key shortcomings in their functioning and reveal the insufficient effectiveness of control measures. The aim is to develop a concept of financial control taking into account the identified problematic factors and ensure the possibility of improving the financial control system in the context of professional participants representing the subjective side of the financial market. The methodological novelty of the author’s approach lies in the research algorithm. It includes creating the state financial control concept for the securities market professional participants’ activities based on the analysis of scientific literature, the definition of characteristic problems in the state financial control, the disclosure of the structure of its improvement concept by creating indicators for monitoring and formulating proposals for implementing the recommended measures. The financial control procedure ensures the activities’ legality, the implementation of the current regulatory framework for conducting transactions of financial resources, the openness and accessibility of financial transaction mechanisms. Currently, there are organizational and regulatory gaps that directly affect the financial control procedure, caused by, among other things, digital solutions, the introduction of the digital ruble and a number of other transformations. The result of the research is the author’s concept aimed at improving the financial control system of securities market professional participants’ activities.