Commercial law. Regulation of competition in the financial services market (lecture notes)

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Commercial law. Regulation of competition in the financial services market (lecture notes)

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LECTURE No. 41. Regulation of competition in the financial services market

Financial activities and financial services - activities of legal entities and individuals. Banking operations, insurance operations, services in the securities market, leasing and other operations are considered as financial services. The financial services market is considered to be the scope of activity of financial organizations in the territory of the Russian Federation and its part, based on the place where the service is provided to consumers.

There are features of determining the dominant position in the financial services market. The conditions for recognizing the dominant position of a financial institution (with the exception of a credit institution), subject to restrictions, are established by the Government of the Russian Federation. The conditions for recognizing the dominant position of a credit institution, subject to restrictions, are established by the Government of the Russian Federation in agreement with the Central Bank of the Russian Federation. The dominant position of a financial institution (with the exception of a credit institution) is established by the antimonopoly authority in accordance with the procedure approved by the Government of the Russian Federation. The procedure for determining the dominant position of a credit institution is approved by the Government of the Russian Federation in agreement with the Central Bank of the Russian Federation. A financial institution whose share does not exceed 10% in the only commodity market in the Russian Federation or 20% in a commodity market in which goods are also circulated in other commodity markets in the Russian Federation cannot be recognized as dominant in accordance with the conditions for recognizing the dominant position of a financial institution ( except for a credit institution) approved by Decree of the Government of the Russian Federation of June 9, 2007 No. 359). For insurance organizations, these figures are 10 and 25%, respectively).

A feature of unfair competition in the financial services market is its manifestation in the form of capital concentration.

Financial organization - an economic entity providing financial services. These are a credit institution, a credit consumer cooperative, an insurer, an insurance broker, a mutual insurance company, a stock exchange, a currency exchange, a pawnshop, a leasing company, a non-state pension fund, an investment fund management company, a mutual investment fund management company, a non-state pension fund management company, a specialized a depository of an investment fund, a specialized depository of a mutual investment fund, a specialized depository of a non-state pension fund; a professional participant in the securities market (Article 4 of the Federal Law "On Protection of Competition").

In accordance with Part.1 Article. 18 of the Federal Law "On Protection of Competition" financial services include:

1) attracting funds from legal entities in deposits;

2) opening and maintaining bank accounts of legal entities, making settlements on these accounts;

3) granting a loan;

4) collection of funds, bills of exchange, payment and settlement documents and cash services for legal entities;

5) issuance of bank guarantees;

6) services in the securities market;

7) services under a leasing agreement;

8) property insurance;

9) personal insurance, including health insurance;

10) non-state pension insurance;

11) liability insurance, etc.

The Central Bank of the Russian Federation is obliged to submit, at the request of the federal antimonopoly body, in writing, the regulations adopted by the Central Bank of the Russian Federation, as well as the information necessary for the federal antimonopoly body to analyze the state of competition in the market for the services of a credit institution and exercise control over its condition.

If the value of assets according to the last balance sheet of a financial institution exceeds the amount established by the Government of the Russian Federation (when carrying out transactions with shares, assets of a credit institution or rights in relation to a credit institution, such an amount is established by the Government of the Russian Federation in agreement with the Central Bank of the Russian Federation), with the prior consent of the antimonopoly body, the following transactions are carried out with shares (interests), assets of a financial institution or rights in relation to a financial institution:

1) acquisition by a person (group of persons) of voting shares of a JSC, if such person (group of persons) acquires the right to dispose of more than 25% of the said shares;

2) acquisition by a person (group of persons) of shares in the authorized capital of an LLC, if such person (group of persons) acquires the right to dispose of more than 1/3 of the shares in the authorized capital of this company;

3) acquisition of shares in the charter capital of an LLC by a person (group of persons) that manages at least 1/3 of the shares and not more than 50% of the shares in the charter capital of the LLC, if such a person (group of persons) acquires the right to dispose of more than 50% of these shares ;

4) acquisition of the voting shares of a JSC by a person (group of persons) who owns at least 25% of the voting shares of the JSC, if this person (group of persons) acquires the right to dispose of more than 50% of such voting shares;

5) acquisition of shares in the charter capital of an LLC by a person (group of persons) managing at least 50% and not more than 2/3 of the shares in the charter capital of this company, if such a person (group of persons) acquires the right to dispose of more than 2/3 of the indicated shares;

6) acquisition of the voting shares of a JSC by a person (group of persons) that controls at least 50% and not more than 75% of the voting shares of the JSC, if such person (group of persons) acquires the right to dispose of more than 75% of such voting shares;

7) acquisition by a person (group of persons) as a result of one transaction or several transactions of assets of a financial organization, the amount of which exceeds the amount established by the Government of the Russian Federation;

8) acquisition by a person (a group of persons) as a result of one transaction or several transactions of the rights that make it possible to determine the conditions for the implementation of entrepreneurial activities of a financial organization or to perform the functions of its executive body.

The antimonopoly body must be notified:

1) a financial institution on its creation as a result of a merger of financial institutions, if the value of its assets according to the last balance sheet does not exceed the amount established by the Government of the Russian Federation (when a credit institution is created as a result of a merger, such an amount is established by the Government of the Russian Federation in agreement with the Central Bank of the Russian Federation), - not later than 45 days after the merger date;

2) by a financial organization on the merger of another financial institution with it, if the value of assets according to the last balance sheet of the financial institution created as a result of the merger does not exceed the amount established by the Government of the Russian Federation - no later than 45 days after the date of merger.

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