The article analyzes the problems and directions for improving the regulation of the Russian financial market in the pre-sanction period in order to increase the competitiveness of the Russian economy. It is noted that in most foreign countries there are special financial regulatory bodies, each of which has its own specification. The financial stability of the state implies investment attractiveness and well-being, which means ensuring fair competition in the financial market, which provides equal, understandable and transparent rules for all participants. The tasks of state structures regulating the market include maintaining a balance between freedom for business and control of entrepreneurs. Otherwise, there can be no talk of effective market development. This problem is of particular interest to economists.