Estimation of Russian financial market regulatory function possible consolidation into one regulatory body

The article considers possibility of Russian financial market entity regulatory function consolidation into one regulatory body. The authors analyzes historical example of financial market mega-regulator creation in foreign countries, advantages and disadvantages of alternative models for regulation and control and supervision at financial market. The article grounds the conclusion that it is premature to create a mega-regulator in Russia where financial institutions still have low capitalization and financial market hasn't reached high maturity.