Actual Problems of Legal Regulation of Financial Relations

Modern economic reality requires the formation of new approaches to the regulation of financial relations aimed at ensuring state sovereignty and the resistance of the state's financial system to economic crises of any scale. In the context of the structural restructuring of the world economy caused, on the one hand, by an increase in the gap between the real and virtual economies and, on the other hand, by the transition to a multipolar system of foreign economic relations. A number of paradigmatic positions and attitudes in the field of regulating financial relations are changing, new patterns are being formed, conditions and factors for the development of the financial system of the state. The formation of an effective legal model for the regulation of financial relations that meets modern challenges requires the study of key problems in the financial and legal sphere, identifying the causes and determining ways to resolve them. An analysis of financial legislation and law enforcement practice allows us to state that the problems in the implementation of the mechanism of financial and legal regulation are caused by: the use of alternative legal instruments for regulating financial relations; the implementation of numerous administrative procedures within the framework of the financial activities of the state, leveling the obligatory nature of financial legal relations; internal inconsistency of acts of financial legislation, etc. The development of the theory of financial law and financial legislation should be aimed at finding effective legal means aimed at consistent legislative consolidation of the completeness of the essential conditions of financial obligations, streamlining the system of measures of property liability for violation of financial legislation, working to eliminate internal inconsistency of financial legislation acts, etc.