On the Legal Nature of Uncertificated Securities

The article is devoted to some problems of the legal regime of undocumented securities, as well as the legal regulation of rights to undocumented securities and their protection. The question of their special legal nature is still relevant, since these features are not always taken into account both in law-making and in judicial activity, which causes certain problems in judicial practice and in the implementation of legal norms. The authors show that despite the reform of civil legislation in the field of legal regulation of securities, new gaps and conflicts remain and have arisen. The authors consider the problems of the possibility of applying to undocumented securities the rules of civil legislation on property rights; ways to protect the holders of undocumented securities in terms of the conflict of legal norms enshrined, on the one hand, by the Law on Joint Stock Companies, the Law on the Securities Market and, on the other hand, Chapter 7 of the Civil Code of the Russian Federation. Solutions to these problems are proposed.