Presidential Decree No. 292-2003 on Regulations on State Commission for Regulation of Financial Services Markets of Ukraine

Ukraine

(amended through 2005)

The Presidential Decree No. 292-2003 on Regulations on State Commission for Regulation of Financial Services Markets of Ukraine establishes the State Commission for Regulation of Financial Services Markets of Ukraine.

The State Commission on Regulation of Financial Services Markets of Ukraine (the “Commission”) is a specially authorized executive body that regulates non-banking financial institutions including credit unions, leasing companies and financial companies, and pawnshops in Ukraine.

The main tasks of the Commission include:

  • Developing a unified and effective state policy in financial services;
  • Developing and implementing development strategies of financial services;
  • Implementation of government regulation and supervision of financial services and compliance with the law in this area;
  • Consumer protection in financial services through the application of measures of influence to prevent violations of the law on the financial services market and their termination; and
  • Introduction of internationally recognized rules of financial services markets.

DISCLAIMER: Due to the fact that an English translation was unavailable for this document, information for this summary has been taken from secondary sources and not from review of the actual legal text of this document