The Committee on Finance and Banking recommends that the Parliament should adopt in the second reading and in entirety the draft law “On amendments to article 4 of the Law of Ukraine “On Financial Services and State Regulation of Financial Services Markets” re types of financial services

Information Department of the Verkhovna Rada of Ukraine Secretariat
09 April 2013, 14:57

The bill (Reg. No. 0972) suggests: specify the list of services deemed to be financial; prohibit provision of financial services not included into this list; and provide bodies, exercising state regulation of financial services markets, with the right to decide that operations belong to a particular type of financial services.

It is suggested to supplement article 4 of the Law “On Financial Services and State Regulation of Financial Services Markets”.

The subject of legislative initiative believes that adoption of the bill shall strengthen protection of rights of financial services consumers, by preventing them from being involved in fraudulent schemes, like the “pyramid scheme”.