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Regulation of Financial Conduct in Russia

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Part of the International Handbooks in Business Ethics book series (IHBE)


The chapter is devoted to evolution of regulation in Russian financial sector. In the first part, we describe the general evolution of regulation starting from the late 1980s when the country started transition to market economy to current situation. The system of regulation came through two large stages: 1989–2013 was a period of coexistence of several different regulatory bodies, and 2013-nowadays when Bank of Russia started to serve as a mega-regulator and took the responsibility over all financial sector. We examine positive and negative side of this evolution. In the second part, we describe several episodes of self-regulation of ethical behavior in several financial markets (banking, microfinance, and debt collection) and try to explain the factors of their success or failure.


  • Financial markets
  • Stock exchange
  • Ethics
  • Regulation
  • Self-regulation
  • Russia

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Correspondence to Maxim Storchevoy .

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Grekova, I., Storchevoy, M. (2020). Regulation of Financial Conduct in Russia. In: San-Jose, L., Retolaza, J., van Liedekerke, L. (eds) Handbook on Ethics in Finance. International Handbooks in Business Ethics. Springer, Cham.

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-00001-1

  • Online ISBN: 978-3-030-00001-1

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