The common trends in the financial sector of integration process: The securities market and single market of financial services

Purpose: The organizational and legal forms of regulation of the financial sector in an integration association are of paramount importance for the successful development of not only the sphere under consideration, but also for the integration process as a whole, and therefore, the author of this Article considers the research of the common factors of development and establishment of the single market of financial services as well as the securities market of the European Union, which nowadays, despite the recurring political and institutional crises are rightfully believed to be the integration association with the highest amount of delegated authority, as the primary purpose of this study. Design/Methodology/Approach: The methodological basis of the research presented in this Article is a combination of both general scientific methods and methods exclusively used by the legal science. Due to the peculiarities of the subject of this research, the method of historicism, the dialectical method, as well as the comparative legal method and the method of system analysis shall be given the highest priority in this very Article. Findings: The author’s position grounded in the presented Article is based on a thorough analysis of the legislation, as well as an analysis of a significant range of scientific opinions on the issues under consideration. In accordance with the thorough analysis of legal norms based on the above listed methods of scientific knowledge, this very Article presents a differentiation of trends in the development of the single financial services market within the European Union, as well as the securities market as integration further develops. The Article also covers the most important aspects of the decision-making process in the area at issue. Originality/Value: As a result of the research carried out and presented in this Article, the significance of choosing the right mechanisms for regulating a single financial services market, ways of enshrining the norms under consideration in the European Union law and creating a flexible and mobile mechanism allowing to respond to changes arising from the further development of the integration process. The Article also formulated the conclusion that the integration process, which does not include financial aspects, cannot be considered as having reached the highest stage of its development. © Springer Nature Switzerland AG 2020.

1100 AISC
  • 1 RUDN University, Moscow, Russian Federation
Financial policy of the European Union; Financial sphere of the integration process; Single market of financial services of the European Union; The European Union; The integration law; The integration process; The securities market
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