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Matytsin D.E. The Key Elements of the Guarantee System of Compliance with the Legitimate Interests of the Parties to Investment Transactions: Interdependence and Functions

DOI: https://doi.org/10.15688/lc.jvolsu.2021.4.17

Denis E. Matytsin, Candidate of Sciences (Economics), Researcher, Institute of Law, Volgograd State University, Prosp. Universitetsky, 100, 400062 Volgograd, Russian Federation; Associate Professor, Department of Civil Law and Procedure, Volzhsky Branch of International Law Institute, Bolshevistskaya St, 7, 404106 Volzhsky, Russian Federation, This email address is being protected from spambots. You need JavaScript enabled to view it. , This email address is being protected from spambots. You need JavaScript enabled to view it. , https://orcid.org/0000-0002-4038-4032


Introduction: the relevance of the research is due to the transformation of social relations in the neoindustrial era, which opens up technological innovations to mankind. In this regard, there is an objective need to revise and modernize many legal institutions and create a new legislative matter for the normal functioning of the banking and investment sector adequate to modern realities. Purpose: the paper contributes to the formation of the understanding of individual investors, recipients of investments, and investment intermediaries of the fact that there is a set of special means that can be freely implemented in a situation of violation of the rights and noncompliance with the legitimate interests of each of the participants in these relations. These special means should represent the interrelated and interdependent elements of the system, reinforcing, complementing each other, thereby forming a synergistic effect and thereby providing these guarantees. Methods: the methodological framework for the conducted scientific research is the method of historical materialism. In addition, while writing the paper, both the traditional general scientific methods (the dialectical method of cognition, analysis, synthesis, induction, deduction, etc.) and the specific scientific legal methods (formal-legal, the method of legal interpretation, etc.) were used. Results: the author substantiates the existence of five functional elements that guarantee in their totality a system of guarantees of compliance with the legitimate interests of participants to remote digital investment transactions. Firstly, there is a developed civil law regulation. Secondly, a workable institution of the financial Ombudsman. Thirdly, the effective regulation of this market segment by the central bank. Fourthly, jurisdictional and non-jurisdictional justice operating within the framework of legality. Fifthly, advanced information technologies for transactions and protection of rights. The functioning of the designated system of guarantees is investigated by elements. Conclusions: in summary, it is concluded that the efforts of scientists and developers-practitioners should be aimed at creating an end-to-end technology for participation in remote digital investment transactions and protection of their rights by the parties. The necessity of introducing special service applications that make up such technology is argued. It is proved that the implementation of such technology will allow functioning effectively, mutually complementing and strengthening all the elements of the guarantee system. It is proved that the key idea underlying the end-to-end technology of participation in remote digital investment transactions is the execution of the transactions themselves in the mode of smart contracts, which are executed, and the facts about the execution of their stages are stored in the distributed registry system. At the same time, this information technology should be integrated with the hardware and software complex of the GOSUSLUGI portal as a special service presented in the personal account of a citizen, as well as with the website of the Federal Tax Service with the corresponding service in the personal account of a party – a legal entity. These services should provide for a guaranteed and unhindered (automatic) possibility of an electronic, legally significant, appeal by a party to a remote digital investment transaction to the Bank of Russia, to a financial commissioner, to an arbitration institution, to a court.

Key words: neo-industrial era, technological innovations, remote digital investment transactions, digital financial assets, securities, undocumented securities, protection of rights.

Citation. Matytsin D.E. The Key Elements of the Guarantee System of Compliance with the Legitimate Interests of the Parties to Investment Transactions: Interdependence and Functions. Legal Concept = Pravovaya paradigma, 2021, vol. 20, no. 4, pp. 125-135. (in Russian). DOI: https://doi.org/10.15688/lc.jvolsu.2021.4.17

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