Legal status of entities providing consumer financial services: reforming the institutional structure of the market

Анотація

The article analyzes the peculiarities of the legal status of banks, credit unions, pawnshops, financial companies, leasing companies, insurers, non-state pension funds, payment service providers. It also offers a description of credit organizations under national and foreign legislation. Attention is focused on legislative changes to the principles of activity of financial intermediaries associated with the adoption of the Law of Ukraine «On Financial Services and Financial Companies». At the same time, the classification of certain participants in the financial services market to the list of financial intermediaries is criticized. The activity of financial organizations in attracting financial resources and placing them on their own behalf is called financial intermediation, taking into account its economic essence. Based on a generalized analysis of the specifics of the legal status of these subjects, it is proposed under providers of consumer financial services to understand financial organizations, and in cases specified by law, other legal entities that, on the basis of a license, provide for fee services regarding the use of financial means for the purpose of obtaining profit or other property benefit by consumers or third parties to meet their personal, family needs, not related to related to entrepreneurial or independent professional activity.

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