ECONOMIC AND LEGAL REGULATIONS ON THE MARKETS OF FINANCIAL SERVICES OF UKRAINE

Abstract

State regulation of financial service market operations of Ukraine is characterized by a number of shortcomings, among which the most significant one is unclear division of responsibilities of state regulators and inconsistency of their competence, lack of a uniform system of means of influence. Study of the issues state regulation execution in a form of control on the financial service markets of Ukraine and elucidation of the European experience of activity of the regulators in order to improve the Law of Ukraine. Oversight and control on the financial service markets should be maximally harmonized based on the integrity of the capital market and the necessity of unification of execution of operation with financial institutes. The objects of the control are: credibility of information provided by the participants of the financial services’ markets, observance the terms of conducting of the activity to provide financial services, solvency of financial institutions. Control is a form of government regulation of the financial services’ market. The components of the control are: supervision, accountability, monitoring, financial monitoring, inspections, auditing, examination, lawful correction (sanctions). Means and forms of the control of the National Commission, which conducts government regulation in the area of financial services’ markets, in comparison with the National Bank of Ukraine and National Commission for securities and stock market are rather weak.