Development trends and prospects of regulation of related party transactions

The purpose of the study is to identify the most significant trends in the development of legal regulation of related-party transactions and to establish prospects for the deregulation of these relations. The presented scientific work is based on a sufficiently deep methodological base and general scientific methods of cognition of legal research, such as synthesis, method of analogy, formal logic, comparative legal method and others, including private scientific methods used to establish the most promising trends in the development of legal regulation of transactions with an interest in Russian corporate practice. Having subjected to a careful and comprehensive analysis of the actual problems of the institution of interested-party transactions, the author comes to the conclusion that it is necessary to determine the potential possibility of the legislator's refusal from the legal regulation of these transactions, however, for these purposes it is necessary to identify and assess the general trends of such regulation. It has been established that non-public companies are legally provided with the opportunity to consolidate in their constituent documents the possibility of almost complete rejection of the institution of interested-party transactions. These rules do not apply to public companies, which seems to the author of the work appropriate from the point of view of protecting the rights of minority shareholders. The institution of interested-party transactions arose due to the need to ensure regulatory protection of the interests of organizations and their participants and to prevent damage caused by unfair actions of interested parties. The article has high scientific value, since it is argued that one of the main trends of the institute considered in this article is also the attempts made by the legislator to resolve the issue of finding the optimal balance between imperative and dispositive norms of law governing the procedure for concluding and challenging interested-party transactions. It is proposed not to follow the path of discrimination against minority shareholders and restriction of their rights, but to try to ensure an optimal balance of interests through equal protection of the rights of all shareholders (participants) and an increase in the number of ways of such protection (recovery of losses from the person through whose fault the transaction was concluded, filing demands for his exclusion from the organization, etc.). It should be noted that there is a reduction in the number of agreed transactions and a decrease in the overall level of bureaucratization in organizations due to the introduction of the concept of «controlling person», an increase in the threshold value for the need to coordinate interested-party transactions, as well as the establishment of freedom of regulation of such transactions for non-public companies.