Improving Compliance in the Russian Foreign Exchange Market
- 10.2991/assehr.k.200428.139How to use a DOI?
- behavioral finance, market regulation, the Central Bank of Russian Federation, foreign exchange, political philosophy
Since the Central Bank of Russian Federation, the only regulator of the foreign exchange industry in Russia, took over the Russian foreign exchange market, its style is regarded as very strict, strong, or even authoritarian. As a result, even licensed brokers guide customers to use offshore supervision. To address the substantial cheating even with heavy oversight, which leads to the studies of human failures in terms of psychology and behavioral finance integrated with morality, a highly completed financial education of risk management is required. Since the financial market and institutions are created only for the purpose of humans’ welfare, the elementary mission of the democratization of finance raised by Robert. J. Shiller is developing some ultimate objectives for all humans, which implies that behavioral finance, defined as the human sciences applied on finance, will eventually take the main thrust of financial studies into political philosophy, following the path of policy-making exploration, of human satisfaction, of freedom, of the love of sublime.
- © 2020, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Shihao Yang PY - 2020 DA - 2020/05/01 TI - Improving Compliance in the Russian Foreign Exchange Market BT - Proceedings of the 6th International Conference on Humanities and Social Science Research (ICHSSR 2020) PB - Atlantis Press SP - 634 EP - 637 SN - 2352-5398 UR - https://doi.org/10.2991/assehr.k.200428.139 DO - 10.2991/assehr.k.200428.139 ID - Yang2020 ER -