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№ 2/2017

Nauk. pr. NDFI 2017 (2): 97–117https://doi.org/10.33763/npndfi2017.02.097

MARKET OF FINANCIAL SERVICES

KLYMENKO Kateryna ¹, KOLOSOV Ivan ²

¹SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0001-8295-1333
²SESE “Academy of Financial Management”

Directions of reforming state regulation of non-banking financial services market in Ukraine

The article highlights the issues of development of non-bank financial institutions as subjects of the aggregate financial capacity of Ukraine and promising directions for increasing the efficiency of their operation. The author gives a comprehensive analysis of development problems accumulated in the process of restructuring the non-bank financial services market in Ukraine and identifies the main ways of their solution on the basis of the EU-Ukraine Association Agreement, the Strategy for Sustainable Development “Ukraine-2020”, the Strategy of Reforming of the Governmental Regulation of Non-banking Financial Services in the years 2015–2020, the Action Plan of Priority Actions of the Government for 2017 and the Medium-Term Action Plan of Priority Actions for the Government until 2020, which are based on objectives of ensuring the sustainable and dynamic economic growth. The directions of reforming the market of non-banking financial services in the context of anti-crisis regulation are determined and evaluated. A characteristic feature of the study is the comprehensive approach to reformation, which should be based on close coordination of actions in all its areas, namely: deregulation of the non-banking financial services market and simplifying the regulatory environment; improvement of the regulator’s activity and efficiency of state supervision; protecting the interests of consumers of financial services and restoring confidence in the market; regulatory impact on the market of non-banking financial services. The study focuses on the strategic directions of the National Commission for the State Regulation of Financial Services Markets in the context of cooperation with international technical assistance projects: the EU-funded project “Technical Assistance for the priority areas of the financial sector” EU- FINSTAR, USAID programs “Financial Sector Development” (FINREP and FINREP-II), the GIZ/DGRV Technical Assistance Project “Reforming financial activities in rural areas”.

Keywords:state regulation, non-banking financial services market, National Commission for the State Regulation of Financial Services Markets (NCRFSM), reforming, plan of legislative support for reforms (LSR).

JEL: G23, G28.

Klymenko K. . Directions of reforming state regulation of non-banking financial services market in Ukraine / K. Klymenko, I. . Kolosov // Наукові праці НДФІ. - 2017. - № 2. - C. 97-117.

Article original in Ukrainian (pp. 97 - 117)

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