Articles by the leading expert of the Control Department of the President of the Russian Federation, the NIIKPU expert Sergey Lutsenko "Liberal Banking Law" in the journal "Modern Law" (No. 11, 2018) and "Outlines of the Concept of the Development of the Financial Cluster of the Russian Federation", in the journal "ES" (No. 8, 2017) marked by gratitude of the Ministry of Economic Development of Russia.

In the article “Liberal Banking Legislation”, the author examines legal gaps in the current banking legislation of the Russian Federation, causing the emergence of threats to the interests of creditors and depositors. Based on an analysis of the jurisprudence of the European Court of Human Rights and Russian courts, a structural deficiency in Russian banking legislation is identified, associated with the wide discretion of credit institution management when making decisions regarding the formation of loan reserves based on the level of risk.

According to S. Lutsenko in the article “Outlines of the Concept for the Development of the Financial Cluster of the Russian Federation”, the presence of a strong financial cluster is one of the key conditions for the further economic growth of the Russian Federation. The purpose of its creation is to create conditions for the protection of investors and ensuring the efficiency, transparency and development of the national stock market and increasing its international attractiveness. In this article, the author, after analyzing world experience in matters relating to the creation of a financial center and the development of its development concept, recommends the creation of an Agency for Regulating the Activities of a Financial Cluster (Center) or Investment Agency. In turn, when the agency is recommended to establish an international council as a consultative and advisory body. In such a situation, the priority of the state policy should be the improvement of the system-forming factors that have a long-term influence on the formation of the practice of financial institutions: the quality of government regulation; quality of corporate law; availability of reliable and high-quality information, as well as free access to it; the level of development of the infrastructure of the financial sector, the degree of trust and awareness of the population about the services of the financial sector (implementation of financial literacy); training professional staff for the financial market; improvement of accounting and taxation of financial market participants and financial instruments.

Read the full article in Expert Library NII KPU .