Legal nature of paperless securities

The article considers legal nature of paperless securities in view of recent changes in the civil legislation of the Russian Federation. It analyses different views on the legal nature of paperless securities taking into account the legislator's position. The author highlights the contrast opinions on this issue. He also shows the features of the turn of paperless securities and the relevance of this topic because the Russian legislator tends to form a new legal institute. Analyzing the various concepts of understanding of the legal nature of securities, the author proposes the improvement in legal regulation of paperless securities institute.