CORPORATE ACTS AS A MEANS OF SELF-REGULATION OF BUSINESS AND PROFESSIONAL ACTIVITIES

Abstract

In recent years, the mechanism of state regulation of business activity has experienced structural changes. Nevertheless, in the context of the emergence of a new model of self-regulation of business and professional activity, the sources of corporate regulation, internal acts of organizations, retain their significance and acquire additional features.

Corporate acts of self-regulating organizations are usually divided into two categories. The first category covers documents that define the legal status of the organization itself, the structure of its governing bodies, the order of membership, the formation of property, responsibility, and other internal issues. These documents include the constituent documents and various regulations.

Another group of corporate acts determined by the nature of the institution of self-regulation is associated with the implementation of the regulatory and rule-making function and conditioned by the development and approval of internal standards and rules. The nature of these acts should exclude the repetition of the provisions of regulatory legal acts and provide for additional requirements for business and professional activities. The legislation applies content requirements to standards and rules and, in some cases, provides for mandatory approvals and conclusions of certain organizations.

However, the regulatory legal regulation leaves questions about the procedure for approving and obtaining an opinion on standards and rules, the competence of the authorized body, and the development of business ethics standards. The analysis of the existing standards revealed the fact of poor-quality development of standards by self-regulating organizations and the unavailability of information about their approval.

Thus, corporate acts of self-regulating organizations have a legislative basis and not only contain provisions on organizational issues, but also significantly determine the internal regulation of its activities. The elimination of existing inaccuracies in regulatory legal acts will contribute to the improvement of the effectiveness of regulation in the field of business and professional activities.