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They consider as the main motive of similar restrictions protection of interests of clients.
Thus, agreeing that for achievement of this purpose would be enough
To oblige emitters to place on forms of depositary certificates the corresponding
Warning inscriptions, ideologists of regulation cannot rationally explain
The regulation form (in this case an interdiction).
Aspiration to close up imagined gaps in the legislation leads somewhat quicker
To attempts to regulate each step of activity of share institutes. But
Various positions and the instructions, called to explain the action mechanism
Decisions, or at all are not written, or appear very much late.
Interesting example of process of working out of the legislation are become
Property of publicity debate concerning the admission of banks on a securities market.
Though interest of banks to this market for the present is not shown to the full,
The aspiration to reserve this activity was expressed in high activity
The bank lobby, aspiring to provide access of banks on the market of the valuable
Papers as equals with the other organisations conditions (is more exact, on other conditions,
As activity of banks is supervised not by the Ministry of Finance, and
The central bank). The position of banks was resisted by a position of the independent
The broker offices expressing fear that the big and rich banks will devour
Small brokers. It is characteristic that as argument this party resulted
Example of the USA where actions of banks on a securities market have been limited on
To absolutely other reasons, for the present completely not actual in our country.
Now practically it is not given attention to technological aspects
Securities market functioning. As a result allowing phrases,
Getting to documents thanks to persistence of the separate
Experts-fondovikov, hang in air and only with great difficulty
Allow to make something real and though in some measure responding those
To the western samples by whom developers ostensibly are guided.
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