Financial operations of non-banking institutions: peculiarities of control and supervision

Abstract

Purpose. The article investigates the legal and organizational mechanisms of control and supervision over financial operations of non-banking financial institutions (NFIs) in Ukraine. The aim is a comprehensive analysis of current legislation, regulatory practice of the National Bank of Ukraine, and identification of gaps in the state supervision system after the 2020 reform. Methods. The research employed general scientific and special legal methods: dialectical, system-structural, comparative-legal, formal-logical, and the method of legal modelling. Comparative analysis was used to contrast domestic legislation in the field of NFI regulation with approaches of EU member states. Results. It was established that the system of control and supervision over financial operations of non-banking institutions underwent significant transformation due to the expansion of the NBU's powers as a mega-regulator. The main forms and methods of state financial control were identified, the content of compliance procedures was revealed, and mechanisms of financial monitoring and anti-money laundering were studied. The classification of NFIs and forms of control are systematized in tables. Conclusions. The necessity of improving legal regulation was substantiated through clear delineation of control and supervisory functions, strengthening liability for financial monitoring violations, and implementing a risk-based approach to regulatory activities.