The legal meaning of the concept of financial markets in international financial law
Abstract
The article investigates the legal meaning of the concept of financial markets. This concept is widely used and implemented not only in legal reviews and studies, but also mainly applied in order to analyse the global financial system. The appeal to the concept of financial markets largely stems from its universality for the characterisation and regulation of financial relations. Despite this, the legal aspects of this concept have not been sufficiently studied in the national theory of international financial law. The practice of applying this concept is related to the designation of the sphere of financial regulation, while the interpretation of the concept of financial markets involves comparative legal studies on theoretical concepts and approaches. The study of the concept of financial markets is important because it addresses a variety of national and international regulatory issues. In Russian legislation, however, the concept of financial markets is still not defined as a legal term, instead being associated with a separate branch of financial regulation, namely banking and currency regulation. Within the framework of international financial law, the concept of financial markets plays a key role in the strategic regulation of financial relations at the state and interstate levels. This article focuses on the regulation of international financial markets and the responsibility for public obligations, which is achieved by adhering to norms, principles and rules in order to ensure the stability of financial relations.
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