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Purpose The purpose of this paper is to study the current state of the Russian banking system in the context of digital economy development, to establish and identify the benchmarks and needs of legal regulation, to study the potential possibilities of digitalization of relations in the banking sector in the mechanism of implementing prudential rules. Design/methodology/approach Using the method of political and legal analysis used in this study, the legal guidelines for the digitalization of the banking sector and the financial services market have been determined, which in the Russian legal system are strategic planning documents. Findings International research in the field of banking indicates that digitalization and globalization of the economy stimulate the processes of international regulatory cooperation and harmonization of legislation, the use of new approaches in the development and adoption of regulations in the financial market. The growth of digitalization of relations in the banking sector will contribute to the effective implementation of prudential rules, including those related to the need to protect public interests. Originality/value The study revealed a number of issues related to the digitalization of the activities of credit institutions that are professional participants in the securities market and the central bank as a financial mega-regulator, requiring a legal solution. Measures aimed at improving the current legislation and procedures of state regulation and supervision are proposed.

This policy note considers the impact of global digitalization of the economy on public tax administration based on the example of the Russian legal system from a comparative perspective. To understand the prospects of domestic taxation mechanisms, they are considered in comparison with similar mechanisms of other states and the legal regulation of foreign countries of Europe (European Union) and the United States while respecting the initiatives and solutions of international organizations (OECD, European Commission) in the context that is examined. A macroeconomic assessment of the effectiveness of the use of digital tax administration is performed, and the stages of its institutional development are highlighted. Digital technologies ensure an increase in the collection of taxes and other obligatory payments, reduce labour costs for tax control, and decrease the administrative burden on businesses. The main approaches to the digital transformation of the modern tax system are considered and new innovative developments and digital technologies in Russia are emphasized. It is noted that, currently, the Russian tax system in the context of the development of the digital economy is moving from an electronic to a ‘proactive state’. Digital economy, electronic document management, legal tax regulation, tax administration, tax audit.

In legal literature there is a big amount of definitions of corruption due to the complexity of this phenomenon. The article considers various legal and theoretical approaches to the definition of corruption. The Author mentions the problem of notional proximity of different definitions of corruption and proposes a method of identification of definitions which are close in meaning. The author also proposes to consider social and psychological aspects in definition of corruption as these aspects are regarded as an integral part of corruption.

The article is devoted to financial law issues on securities and derivatives market regulations. The article deals with the financial law nature of the relations that are emerging in the securities and derivatives markets through a review of methods and techniques of securities and derivatives market regulation. The author considers the public interest in the regulation of the securities and derivatives markets, as well as differences between different parts of securities and derivatives markets. The article contains the review of regulatory, compensatory and redistributive functions of the securities and derivatives markets. The author states that control of the securities and derivatives market has to be considered as independent type of state financial control in the Russian Federation. In addition, the securities and derivatives law have to be considered as a branch of financial law. The legal relations arising in course of issuance and circulation of state securities and entering into derivatives deals are separately reviewed and analyzed. It is proved that the basis for recognition of the securities and derivatives market as the financial law categories is similar to reasons proving the existence of public banking law, namely, stock market and derivatives as an integral parts of any financial market system, the presence of public interest in the regulation of relations in the securities and derivatives markets, the existence of a mandatory subject of legal relations, having a public authority (the Bank of Russia), the existence of subordination between the Bank of Russia and professional participants of the securities market where the Bank of Russia acts as a regulator and supervisory authority and wide scope of public law methods used for securities and derivatives market regulations.