Pravni okvir i politike upravljanja rizicima u brokersko-dilerskim društvima i ovlašćenim bankama
Legal Framework and Policies of Risk Management in Investment Companies

Author(s): Ranko Sovilj
Subject(s): Business Economy / Management, Law on Economics, Financial Markets
Published by: Институт друштвених наука
Keywords: investment company; risk exposure; liquidity; capital adequacy; risk management
Summary/Abstract: The outbreak of the global economic crisis in 2007 opened many questions about the causes of the crisis. After the economic crisis broke out, the question arose as to how to regulate risk management in the investment companies, that is, how to prevent the unintended consequences of the crisis, when it would occur. One of the causes of the crisis was the complete absence of legal regulation, that is, the deregulation of the capital market. Therefore, the paper deals with the normative frameworks and conditions of business of investment companies, as key participants in the capital market. The focus of the research is on the legal regime, the legal consequences and the possibilities of limiting risks in the business of investment companies. The author point out how the application of newly adopted international standards will increase the stability of the capital market, that is, how it will contribute to more efficient and effective risk management in investment companies. Finally, the proposed solutions will be compared with the position of investment firms in the national law. Precisely, the use of comparative method will enable critical exploration of the proposed solutions and principles from the perspective of national law.

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