Annotation

This article discusses the financial and legal issues of forming an institution to counteract il-legal financial transactions within the subsector of state financial control. The author identifies several sub-institutions within the proposed institution, including financial monitoring in the field of AML/CFT/EA/PWMD, the misuse of insider information, market manipulation, and countering fraudulent and corrupt transactions. The article highlights a number of applied legal issues, in-cluding, but not limited to, the regulation of the use of various automated systems for identifying illegal activities, the fragmentation of legal norms in terms of countering financial transactions with a corruption component. The author also identifies the problem of excessive regulatory pres-sure as a separate legal issue, which can negate the positive effects of procedures for countering illegal activities.