New book: “Legal status of investment firms on the capital market”

The research subject of Ranko Sovilj’s in the book Legal status of investment firms on the capital market is the normative framework and operating conditions of investment firms as key actors on the capital market in conditions of increasing globalization of financial flows and global integration of the economies.

After the financial crisis, which hit the world in 2007, many countries started legislative reforms with the aim of abandoning the prevailing principle of deregulation. One of the main objectives of the reforms was the establishment the new regulatory bodies, as well as the transfer of supervisory activities to existing market regulators. In this regard, in the rest of the book, the development of legal regulation on the capital market is presented, with special reference to European law (Acquis).

The aim of the current reform of the European capital market legislation is primarily to harmonize the regulations related to the business of investment firms, with the idea of integrating national capital markets into a single European capital market. This issue is of indirect importance for the Serbian capital market, given that the changes in the legal system in the EU serve as a model for the national legislator. In that sense, the author tried to bring the reader closer to the existing legal and economic reality regarding investment firms through a legal analysis of the newly created legislative and economic “circumstances”.

Based on a comparative-theoretical appproach, the second and central part of the book is devoted to the legal consideration of fundamental issues regarding the legal position of investment firms. In this regard, the author analyzed the legal status of investment firms in the european and national law, as well as the their legal obligations. The last part of the book deals with issues of supervision and market discipline.

The book Legal status of investment firms on the capital market is significant because it points to the relatively slow development of the national capital market and the obstacles faced by investment firms, especially bearing in mind that without the appropriate development of the capital market, long-term economic development is uncertain.

Legal status of investment firms on the capital market (pdf)


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Јавни конкурс за попуњавање радног места – директор Института друштвених наука

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30. 11. 2022.

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