10:52 28.08.2019

Rada to consider bill on 'split' among first ones in financial sector – Hetmantsev

2 min read
Rada to consider bill on 'split' among first ones in financial sector – Hetmantsev

The parliamentary committee on finance, taxation and customs policy will submit to the Verkhovna Rada a "split" bill among measures regulating the finance sector for consideration in the second reading, candidate for heading the committee Danylo Hetmantsev has said.

"Another bill (among the first ones) is 'split'. Some do not want to adopt it, but we will support it anyway, not because the International Monetary Fund backs it, this is second thing. The reason is that the activities of the financial services commission are absolutely counterproductive. It is recognized by all," Hetmantsev said in an interview with Interfax-Ukraine.

He said that new law is very good variant for reforming the agency "which does not regulate, but makes it look like it regulates very important relations for the country".

On July 7, 2016, the Verkhovna Rada backed at first reading of bill No.2413-a, amending some legal acts of Ukraine regarding consolidation of functions of public regulation of the financial service markets.

Ukraine assumed the obligation to adopt law on consolidation of functions of public regulation of the financial service markets pursuant to a memorandum, which it signed with the International Monetary Fund in late 2018.

As reported, the document provides for the split of the functions of the National Commission, which regulates financial services. In particular, the supervision and regulation of the market of insurance, leasing and factoring companies, credit unions, credit bureaus, pawnshops and other financial companies will go to the NBU, and the National Commission for Securities and the Stock Market will regulate private funds: pension funds, construction financing and real estate transactions.

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