Fragmented financial oversight undermines Ukraine’s economic future
Published on: Sunday 29 December 2024
As a direct participant in the process of establishing the new regulatory framework, I wish to initiate a public debate on the biggest challenge facing Ukraine’s financial services market: the lack of consistency in the institutional capacity of financial regulators — an issue made more pressing by ongoing military challenges. In 2019, the Verkhovna Rada, Ukraine’s parliament, enacted a landmark reform, splitting the responsibilities of the National Commission for Regulation of Financial Services Markets between the National Bank of Ukraine (NBU) and the National Securities and Stock Market Commission (NSSMC).
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