The Status and Prospects of The Trade Legal Regulation in Retail Markets

Abstract

The retail markets commerce has always been of importance to the economy. Based on the Russian and foreign laws analysis, the author draws the conclusion concerning the existence of various approaches to the regulation of this sphere of public relations. The paper highlights decentralization of its legal regulation and the existence of a unified approach to regulating trade in the markets and fairs in the countries of Western Europe, along with the dominance of uniform law rules enshrined in the Federal Law and refusal to form a uniform normative legal framework for the market and fair trade in Russia. The author suggests that new provisions allowing to clearly define the limits of rule-making powers of not only bodies of State authority of constituent entities of the Russian Federation, but also of the bodies of local self-government, be introduced into the Law on Retail Markets The paper draws attention to the necessity of a more precise determination of interrelation between the Law on Retail Markets and the Law on Foundations of the State Regulation of Trade Activity.