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8.6. Public Law Efficiency in the Financial Market: Imminent Issues

Thursday, May 16
10:00 - 11:30

Hall #3, General Staff Building (6-8, Dvortsovaya sq.)

The discipline in the financial market is supported with different enforcement measures including such public-law sanctions as administrative penalties.

The objectives of administrative liability procedures, on one part, is to implement the unavoidable punishment principle, and thus provide for offense prevention, while on the other part - to prevent corruption. 

However, the above mentioned procedures call for diversion of substantial resources: both by the persons brought to administrative liability and the bodies engaged in the process.

There are also the well-known issues related to fines recovery that decrease the preventive role of an administrative penalty.

Therefore, there is a justified question if it is possible to improve administrative penalty efficiency without changing the fundamental principles.


Aleksey Guznov

Director Legal Department, Bank of Russia


Vladimir Chistyukhin

Deputy Governor, Bank of Russia

Anatoly Kozlachkov

Vice President, Association of Banks "Russia"

Andrey Medvedev

Deputy Head of Legal Department, Bank of Russia

Igor Yurgens

President, All-Russian Insurance Association

* The Programme may be subject to change