Committee for the Development of the Non-Banking Financial Sector

Profile committee is engaged in representation and advocacy of market participants’ interests, works to eliminate regulatory barriers, seeks to implement the principle of “proportionality” in regulation, and promotes the development of industry codes of integrity

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Committee Priorities for 2025

Protecting the Interests of Non-Bank Financial Institutions

Representing the position of market participants in relations with government bodies and regulators, defending rights and eliminating barriers to the sector’s development

Promoting Balanced Conditions for Banking and Non-Banking Institutions

Advancing regulatory approaches that take into account the specifics of non-bank financial institutions, their business models, and risk levels, but do not create artificial barriers
Eliminating discriminatory requirements (for example, regarding fiscalization issues, the use of digital handwritten signatures, payment account regimes, foreign exchange operations, or other infrastructural solutions)
Implementing the principle of “proportionality” in regulation
Adhering to the “principle of everything that is not forbidden is permitted” for market participants, rather than the opposite (for example, during foreign exchange operations, a principle of the currency law that is often not observed by regulators)

Self-Regulation and Codes of Best Practices

Developing and implementing an industry code of integrity for non-bank financial institutions
Promoting the “soft law” principle as an alternative to excessive “hard law,” so that the market independently raises standards, reducing the need for excessive state regulation

Deregulation and Simplification of Procedures

Analysis and review of redundant requirements, duplicating processes, and reporting
Eliminating regulatory excess (for example, the need for approval within the framework of information certificates on the provision of payment services/payment systems for specific schemes of financial/information flows of payment transactions)

Interaction with Regulators and Advocacy

Regular dialogue with the NBU (National Bank of Ukraine), the Ministry of Finance, and the State Tax Service (STS)
Preparing consolidated positions from business (policy papers)
Active public communications: media and expert discussions

Presentation