Supervision of the activities of non-banking financial institutions

The article examines the supervision of the activities of non-banking financial institutions based on current legislation. The object of the study is the set of relationships that arise in the process of financial control over the activities of non-banking financial institutions. The subject is the laws and regulations of the National Bank of Ukraine regulating the activities of non-banking financial institutions. The methodological basis of the research is general scientific and private scientific methods of cognition. It is noted that effective control and supervision of the activities of non-banking financial institutions is an integral condition for ensuring the stability and development of the financial market, protecting the rights and legitimate interests of consumers of financial services. Supervision of non-banking financial institutions is characterized by the use of: a risk-oriented approach, which assumes that supervisory measures are carried out with different frequency, intensity and concentration on the identified risks of a non-banking financial institution depending on its risk profile. Risk-based supervision arises as a supplement to formal compliance supervision. Supervision of the activities of non-banking financial institutions includes: macro prudential supervision aimed at ensuring the safety and stability of the financial market; oversight of the judgment-based regulatory model; proportional (selective) regulation and supervision; behavioral supervision; a combination of forms of supervision based on a balanced combination of various forms of control and supervision activities of the National Bank of Ukraine. Expanding the powers of non-banking financial institutions to combine types of activities will lead to the development of the market by reducing the costs of its participants and introducing new digital technologies into the practice of non-banking financial institutions. One of the most urgent tasks facing the National Bank of Ukraine today is to overcome the approach to regulation exclusively by types of legal entities by moving to a more progressive model of regulation by types of activity.