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Regulation of Financial Conduct in Russia

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Handbook on Ethics in Finance

Part of the book series: International Handbooks in Business Ethics ((IHBE))

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Abstract

The chapter is devoted to evolution of regulation in Russian financial sector. In the first part, we describe the general evolution of regulation starting from the late 1980s when the country started transition to market economy to current situation. The system of regulation came through two large stages: 1989–2013 was a period of coexistence of several different regulatory bodies, and 2013-nowadays when Bank of Russia started to serve as a mega-regulator and took the responsibility over all financial sector. We examine positive and negative side of this evolution. In the second part, we describe several episodes of self-regulation of ethical behavior in several financial markets (banking, microfinance, and debt collection) and try to explain the factors of their success or failure.

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Author information

Authors and Affiliations

  1. Moscow Exchange, Moscow, Russia

    Irina Grekova

  2. St. Petersburg School of Economics and Management, HSE University, St. Petersburg, Russia

    Maxim Storchevoy

Authors
  1. Irina Grekova
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  2. Maxim Storchevoy
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Corresponding author

Correspondence to Maxim Storchevoy .

Editor information

Editors and Affiliations

  1. ECRI Ethics in Finance Research Group, University of the Basque Country, Bilbao, Spain

    Leire San-Jose

  2. ECRI Ethics in Finance & Social Value, Deusto Business School, Bilbo, Vizcaya, Spain

    José Luis Retolaza

  3. University of Antwerp, Antwerpen, Belgium

    Luc van Liedekerke

Section Editor information

  1. ECRI Ethics in Finance Research Group, University of the Basque Country UPV/EHU, Bilbao, Spain

    Leire San-Jose

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Grekova, I., Storchevoy, M. (2020). Regulation of Financial Conduct in Russia. In: San-Jose, L., Retolaza, J., van Liedekerke, L. (eds) Handbook on Ethics in Finance. International Handbooks in Business Ethics. Springer, Cham. https://doi.org/10.1007/978-3-030-00001-1_26-1

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  • DOI: https://doi.org/10.1007/978-3-030-00001-1_26-1

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-00001-1

  • Online ISBN: 978-3-030-00001-1

  • eBook Packages: Springer Reference Religion and PhilosophyReference Module Humanities and Social SciencesReference Module Humanities

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