Conflict of Interest in the Execution by Employees of the Bank of Russia of Their Official Duties: Problems of Legislative Support and Law Enforcement

Abstract

The combination in the legal status of the Bank of Russia of the functions of a consumer and a regulator of financial services, as well as banking supervision, is one of the causes of a conflict of interest. The authors analyzed the anti-corruption obligations, prohibitions and restrictions established for employees of the Bank of Russia. The main features and structure of the anti-corruption norms of federal legislation and acts of the Bank of Russia in terms of determining the conflict of interest and mechanisms for its resolution are highlighted. It was revealed that, unlike other state bodies, a specific ban for employees of the Bank of Russia is a ban on obtaining loans from commercial banks. It is argued that for the Bank of Russia, the legislation has created an exclusive regime that allows you to independently establish the rules for the implementation of procurement activities outside the sphere of independent control. Such a regime ensures the constitutional independence of the Bank of Russia, which is necessary for it to exercise its powers in the economic sphere. But at the same time, it makes the possibility of ensuring counteraction to corruption and other abuses in the field of procurement only dependent on the behavior of the Central Bank of the Russian Federation itself. The article formulates recommendations for improving the system of prohibitions, restrictions and duties of employees in the Bank of Russia.