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Liburkina L. M.

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Financial Monitoring in the Securities Market of Ukraine
Timoshenko N. M.

Timoshenko, Nataliia M. (2022) “Financial Monitoring in the Securities Market of Ukraine.” Business Inform 10:175–180.
https://doi.org/10.32983/2222-4459-2022-10-175-180

Section: Finance, Money Circulation and Credit

Article is written in Ukrainian
Downloads/views: 2

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UDC 336.025: 336.763

Abstract:
The purpose of the article is to study the current status of financial monitoring carried out in the securities market of Ukraine. The article analyzes the activities of the entities of the State-based financial monitoring and primary financial monitoring in the stock market of Ukraine. Their main functions and tasks in the financial monitoring system are distinguished. Based on the carried out research, it is concluded that securities are often used in illegal schemes (withdrawal of assets outside Ukraine, minimization of tax liabilities, tax evasion, etc.) that precede the laundering of criminal income. One of the risky instruments of the financial market was also the purchase and sale of domestic government bonds. On the one hand, this type of securities can be considered one of the most reliable financial instruments due to its high liquidity and wide range of applications. At the same time, the high demand and peculiarities of execution of contracts concluded on the stock exchange for the purchase/sale of domestic government bonds make them attractive in schemes of legalization of illegal income, especially for public figures who must declare their wealth. Considering the nature of reports of violations of securities transactions, it can be concluded that there is a high proportion of possible schemes for legalizing dirty funds. Under martial law, there have been significant changes in the process of identification and verification of clients of the primary financial monitoring entities in order to simplify the purchase of government securities. Thus it is worth noting that the largest share of violations of financial legislation falls on government bonds, which have become available to various categories of investors (including individuals). This fact may contribute to the emergence of new schemes for laundering (legalization) of proceeds from crime. Therefore, the entities of the State-based financial monitoring should develop a system of hedging risks regarding the placement of government bonds among different categories of investors. This is especially true of the over-the-counter market. It is worth noting that this segment of the stock market is under the partial control of the national depository of the NBU. Therefore, it is proposed to create an entity in the securities market that would adopt the functions of controlling and preventing fraudulent and manipulative actions with securities.

Keywords: financial monitoring, securities market, domestic government bonds (OVDP), entities of the State-based financial monitoring.

Fig.: 1. Bibl.: 9.

Timoshenko Nataliia M. – Candidate of Sciences (Economics), Associate Professor, Department of Finance, Vinnytsia Trade and Economic Institute of the State Trade and Economic University (87 Soborna Str., Vinnytsia, 21050, Ukraine)
Email: [email protected]

List of references in article

Voronkova, O. “Finansovyi monitorynh na rynku tsinnykh paperiv Ukrainy: suchasni realii ta perspektyvy“ [Financial Monitoring on the Securities Market of Ukraine: Current Realities and Perspectives]. Ekonomichnyi visnyk universytetu, no. 45 (2020): 175-184. DOI: https://doi.org/10.31470/2306-546X-2020-45-175-184
“Zaluchennia Ukrainy vid prodazhu OVDP na auktsionakh z pochatku povnomasshtabnoi viiny perevyshchuiut ekvivalent 145,5 mlrd hrn - depozytarii NBU“ [Ukraine's Earnings from the Sale of OVDP Bonds at Auctions Since the Beginning of the Full-scale War Exceed the Equivalent of UAH 145.5 Billion - NBU Depository]. https://bank.gov.ua/ua/news/all/zaluchennya-ukrayini-vid-prodaju-ovdp-na-auktsionah-z-pochatku-povnomasshtabnoyi-viyni-perevischuyut-ekvivalent-1455-mlrd-grn--depozitariy-nbu
Ofitsiinyi sait Derzhavnoi sluzhby finansovoho monitorynhu Ukrainy. https://fiu.gov.ua/
Ofitsiinyi sait Natsionalnoho banku Ukrainy. https://bank.gov.ua/
Ofitsiinyi sait Natsionalnoi komisii z tsinnykh paperiv ta fondovoho rynku. https://www.nssmc.gov.ua/
[Legal Act of Ukraine] (2019). https://zakon.rada.gov.ua/laws/show/361-20#Text
[Legal Act of Ukraine] (2022). https://fiu.gov.ua/assets/userfiles/0350/strategy/16.pdf
[Legal Act of Ukraine] (2021). https://zakon.rada.gov.ua/laws/show/z0532-21#Text
Timoshenko, N. “Stratehichni napriamy rozvytku rynku derzhavnykh tsinnykh paperiv u systemi upravlinnia defitsytom biudzhetu“ [Strategic Directions of Development of the Market of Government Securities in the System of Budget Deficit Management]. Investytsii: praktyka ta dosvid, no. 13 (2019): 45-50. DOI: 10.32702/2306-6814.2019.13.45

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