New Trends in Banking and Financial Market Regulation in the EU and Russia, an International Conference

The international conference New Trends in Banking and Financial Market Regulation in the EU and Russia was held on 17 June, and it was jointly organized by the University of Luxembourg, the HSE Faculty of Law, the HSE Banking Institute, and the Russian branch of the International Fiscal Association.

The opening speech outlining the agenda of the event, which was delivered by Dean of the HSE Faculty of Law Evgeniy Salygin, and Professor and head of the Department of Banking, Finance and Business Law at the University of Luxembourg, the founding Dean of the Faculty of Law, Economics and Finance at the University of Luxembourg, André Prüm. 

In a plenary session opened by the moderator, Professor of the HSE Department of Civil and Entrepreneurial Law, Alexander Vishnevsky, papers were presented by invited academics. The first was the report of the Professor of Civil Law, Faculty of Law, Economics and Finance at the University of Luxembourg, Elise Puyo. The second after her with a 20-minute report on the fundamental economic and legal problems of consumer credit came leading researcher at the HSE-Skolkovo Institute for Law and Development, Kirill Molodyko.

The greatest impact of Kirill's proposals came from the proposal calling for his idea to grant the borrower of a consumer loan the pre-emptive right to buy-back the debt at a price close to the one at which the Bank is ready to sell his debt to a third party. This question sparked a discussion among panelists of the plenary session in which there was lively participation between the Professor of the Department of Practical Jurisprudence at HSE's Faculty of Law, Artem Karapetov, and the moderator of the panel, Professor Alexander Vishnevsky.