Abstract: The author provides the readers with a comparative study of the concept of “security” fixed by the legislation of the member-states of the Commonwealth of Independent States. Particular attention is paid to the transition from a concept “security — document” to a concept “security — obligation”. The author outlines differences of the concept “security” within the framework of the national legislation as well.
Key words: comparative studies, security, CIS, Poland, Civil, Code, property, document

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Abstract: The article deals with urgent issues of protection of the rights of investors on the securities market by means of compensatory schemes (programmes, funds).
Key words: comparative law, securities, capital expenditures, compensation, protection, defense, scheme, fund

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