The correlation of supervision and control in the field of non-banking lending: administrative and legal aspect

Abstract

The purpose of the article is to study the theoretical and legal foundations for distinguishing "supervision" and "control" in the field of non-banking lending, to analyze the administrative-legal mechanism of supervisory and control functions by public authorities, and to determine the legal status of regulatory bodies. Methods. The research used general scientific and special legal methods: system analysis and synthesis, formal-logical, comparative-legal and structural-functional methods. These allowed a comprehensive examination of the administrative-legal mechanism of supervision and control in non-banking lending. Results. It was established that supervision and control in non-banking lending are interconnected but independent types of state activity differing in subjects, objectives, methods, and legal consequences. The NBU exercises supervision aimed at ensuring legality and financial stability of non-banking lenders, while control covers a wider range of subjects. A comparative table of both concepts and a systematization of NBU supervisory powers are provided. Conclusions. Improvement of the administrative-legal mechanism requires: legislative consolidation of the distinction between supervisory and control functions; strengthening procedural guarantees of non-banking lenders' rights; development of remote supervision instruments; and introduction of proportionate liability measures.