Current transition to mega-regulation is the main trend of the financial regulatory reform. The paper examines this transition in a historical context as a natural result of evolution of the industrial organisation under globalization and conglomeration of financial sector. Alternative models of mega-regulation are dicussed: the “integral” approach, under which regulatory functions are concentrated within a single body, and the model of “twin peaks”, when regulatory mandates are distributed between two institutions on the functional principle (macro stability and consumer financial protection). We prove that despite current bias towards integrated approach, demerging of regulators within the framework of the “twin peaks” model has a key advantage of eliminating intra-institutional regulatory trade-offs.

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Хозяйство и право -взаимодействие в истории Правовая защита контрагента казны по договору поставки в Российской империи ХIХ -начала ХХ в. Данилов Игорь Борисович, заведующий кафедрой теории и истории государства и права Сибирского института управления -филиала Российской академии народного хозяйства и государственной службы при Президенте Российской Федерации (РАНХиГС), кандидат юридических наук