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Protection of the Rights of Securities Market Participants by Constitutional and International Justice Bodies
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Protection of the Rights of Securities Market Participants by Constitutional and International Justice Bodies
Abstract
PII
S1991-32220000622-3-1
DOI
10.12737/jzsp.2023.013
Publication type
Article
Status
Published
Authors
Evgeniy Fokin 
ORCID: 0000-0002-1121-6830
Occupation: Senior Researcher, Department of Comparative Legal Studies
Affiliation: Institute of Legislation and Comparative Law under the Government of the Russian Federation
Address: Moscow, Russia
Edition
Volume 19 No. 1
Pages
128-139
Abstract

The subject of consideration in this article is the correlation of approaches of the Constitutional Court of the Russian Federation and international judicial bodies on issues of legal regulation of the securities market.

The first part of the article reveals the most fundamental positions of the constitutional justice body in the area under study. At the same time, it is emphasized that although the Constitution of Russia does not contain direct references to securities, it still contains provisions necessary to protect the interests of market participants at the proper level. The second part of the article shows that the logic of the human rights mechanism in the field of securities at the international level is the same as in Russian constitutional law. International human rights instruments do not directly regulate the securities market, but the standards of the rule of law laid down by them sufficiently guarantee the protection of the rights of financial market participants. The approaches of the European Court of Human Rights, the International Court of Justice of the United Nations, the Court of the European Union are analyzed. The practice of foreign constitutional justice bodies is also partially affected.

Based on the results of the study, a conclusion was formed that there is no possible conflict of interpretation between the Russian approaches and the approaches of the Council of Europe (in terms of legal regulation of the securities market). However, with regard to the correlation between the national approaches of European States and the law of the European Union, the prerequisites for such a conflict are becoming more and more obvious. In addition, the human rights potential of the practice of the Constitutional Court of the Russian Federation is emphasized, as well as the influence of the approaches of the constitutional justice body on the law enforcement activities of arbitration courts.

Keywords
stock market, Constitutional Court of the Russian Federation, European Court of Human Rights, margin of appreciation, conflict of interpretation
Date of publication
10.03.2023
Number of purchasers
12
Views
147
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0.0 (0 votes)
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