IMPLEMENTATION OF ECONOMIC ACTIVITY BY FINANCIAL COMPANIES
Keywords:
financial institution, credit institution, financial company, loan, credit operationsAbstract
Problem setting. At the present stage of development of the national legal system, a number of conflict issues and gaps in the regulatory regulation of financial companies are observed.
Analysis of recent researches and publications. Problematic issues of providing certain types of financial services were researched in scientific works by lawyers I. A. Bezklubyi, S. V. Glibko, A. S. Linnikov, L. K. Karpov, R. Pukala, N. M. Vnukova, G. Yu. Shemshuchenko, V.P. Yanishen and others. From the list of the scientists of economists, R. Y. Bacho and V. I. Mishchenko made a significant contribution to the research of the activities of banks and non-bank financial institutions.
Target of research. It is necessary to carry out a comprehensive and comparative analysis of the state of legal regulation of the economic activities of financial companies, which is the purpose of this study.
Article’s main body. A credit institution and a financial company are organizations that carry out activities that are not identical to them and differ in the absence of the last right to lend at the expense of borrowed funds both individuals and legal entities. Based on scientific sources, it should be noted that the loan is perceived as a typical contractual legal form of the loan for all forms of lending. Since the loan relates to financial services on the basis of the Law of Ukraine "On Financial Services and State Regulation of. Financial Services Markets" as an economic activity, it must necessarily be carried out with interest. In this case, there is the question of the inappropriateness of distinguishing the concept of "loan" as a financial service and "financial credit," and only the term of a financial loan as a financial service should remain.
Conclusions and prospects for the development. Long-term crises that paralyze the banking system of Ukraine have led to an increase in financial companies, that partially satisfy consumers' services by withdrawing banking services from banking services. A financial company, in the absence of a regulator set by the regulator, is a legal entity that effectively combines participants' contributions and high risk activities. At the same time, its solvency and interests of the creditors of the financial company are not ensured. A financial company can provide financial loans and other financial services that are "lending", without collateral and some operational losses, which reduces their cost, but increases the risk. Investments in financial companies are carried out on corporate terms or through raising funds from participants of an institution, which is based on the Law of Ukraine " On Financial Services and State Regulation of. Financial Services Markets". Funds may be attracted to a financial company for other reasons than deposit transactions, such as loans from another financial institution. At the same time, it is necessary to further investigate the effects of liberal regulation of financial companies and their impact on the interests of participants and clients of financial companies.
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