Regulacje - obiektywna konieczność, czy zbyteczne obciążenie?

The author analyses issues connected with regulations in the capital market. The issue of a desirable regulation scope is quite complex due to a difficulty connected with making a distinction between regulations being indispensable for an effective operation of the market and unnecessary regulations, which restrict unnecessarily operations in the capital market and/or increase their costs. Hence, it is difficult to determine an optimal level of these regulations. It can be assumed, however, that competition between regulators striving to develop markets regulated by them through ensuring the safety of turnover with minimal restrictions and costs of participants is a sufficient stimulus for optimisation of regulations.