Legal Framework for Issuance and Circulation of State and Municipal Securities in the Russian Federation

The master's thesis is devoted to the problems of legal regulation of the issuance and circulation of state and municipal securities in the Russian Federation. For a long time this sphere of legal regulation remained one of the most stable in Russian law, however, significant changes of conditions of external and internal state loans caused a reassessment of the concept of state and municipal securities, including issues of their issuance and circulation. In this regard, the purpose of the master's thesis became the development of scientific and theoretical provisions on improving the regulation of issuance and circulation of state and municipal securities. To realize this purpose, the author analyzed the historical and legal aspects of the development of the institution of state and municipal securities in Russia, defined the content and nature of the institution of state and municipal securities, their types and classifications and considered the source of legal regulation of these relations. The author also revealed the content and main stages of the issuance of state and municipal securities and defined the role of public entities in the process of circulation of state and municipal securities. During the research the author identified the main problems and prospective directions for improving the legal regulation of the issuance and circulation of government securities. The methodological basis of the research was made up of logical, analytical, comparative-legal, historical and systemic methods of scientific cognition. The research resulted in the development of the author's concept of state and municipal securities and the definition of the content and main stages of the issuing activity of the state and municipal entities.