The Verkhovna Rada has adopted law “On financial services and financial companies” (No. 5065) at the second reading.
The corresponding decision was supported by 248 deputies at a parliamentary meeting on Tuesday.
As reported, the draft law on financial services and financial companies was adopted as a basis on April 27.
The document expands the terminology used in the legislation on regulation of financial services markets, enshrines the principles of providing financial services and protecting the rights of customers (consumers) in order to ensure the functioning of a transparent and competitive market environment.
In addition, the provision on the obligations of a financial service provider to provide complete and comprehensive information has been expanded, to establish requirements not only for advertising of financial services, but also for any other form of dissemination of information about financial services in order to maximize the protection of clients from false or manipulative information.