Today, various stock markets are one of the most important sources of financing for the reconstruction and further development of the world economy. Today, the stock market is often considered as an intensive area of regulation, which is based on the expansion of the sphere of presence and degree of basic legal intervention in the economic sector of various state bodies.
The regulatory infrastructure of the market is understood the main system for regulating the securities market. It includes: various regulatory authorities (either state or self -regulating institutions), regulating functions and procedures, legislative and legal infrastructure of the stock market, the ethics of the stock market (which is understood as the rules for conducting their own business, which are approved by self -regulating institutions), and market traditions) , customs.
The infrastructure of the regulation of the stock market is a certain system for providing the securities market. Now, such models of regulatory infrastructure are distinguished, which were most often used by leading countries in all world practice. The first model is based on the criteria «subject of regulation».
And in relation to it all the main approaches are distinguished. Firstly, the approach is based on the fact that the main regulatory role in the stock market belongs exclusively to the state apparatus. This approach is practiced in France. Secondly, a different approach is to regulate the stock market, which is divided between self-regulating institutions and state apparatus.
This method exists in the current stock markets of Great Britain. The second method acts on the principle of «rigidity of regulation». It, on the one hand, is based on rigid, detailed rules, control procedures, etc. D. This method is clearly expressed by the example of the United States of America.
And on the other hand, this method can be based on wide use, in parallel with detailed requirements, various information agreements, traditions and recommendations about the coordination of the style of behavior in the securities markets. This principle is more acceptable for the already mentioned Great Britain. In the end, it can be noted that, depending on which model of the stock market, this or that country chooses the general nature of the regulatory infrastructure of this market, which can be banking, non -banking and mixed.
