ANALYSIS OF EUROPEAN WARRANTY-COMPENSATION MECHANISM INVESTOR PROTECTION IN FINANCIAL SERVICES MARKETS AND IMPLEMENTATION OF SUCH MECHANISMS IN UKRAINE

Problem setting. Financial Services Market of Ukraine, which exists at present, needs immediate reform by implementing effective mechanisms for the protection of investors - consumers of financial services and the formation of a competitive national financial market through the elimination of speculative schemes in this market. Analysis of resent researches and publications. The study of investor protection on the markets of financial services was explored by V. P. Levchenko, V. I. polyuhovich, V. M. Hour and so on. As for compensatory mechanisms to protect the rights of investors, some aspects of this question was investigated by V. V. Duel, Yu. Fogelson, but still it remains the subject of scientific research and needs to be addressed. Target of research. The aim of the article - research-European Warranty compensatory mechanisms to protect the rights of investors in the financial markets and the introduction of such mechanisms in Ukraine. Article’s main body. The introduction of compensation schemes in Ukraine in attracting funds from investors is one of the necessary conditions of the legislation of Ukraine in compliance with EU legislation. The European Union compensation schemes regulated investor protection Directives such as Directive 97/9 / EC of the European Parliamen and of the council of 3 March 1997 on investor-compensation schemes and Directive 2014/49 / EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes European Parliament Directive 97/9 / EC requires Member States to set one or more compensation schemes for investors. All investment firms performing investment services must belong to such a scheme. Article 2 of the Directive provides that any investment firm authorized in a Member State, can not conduct investment business until it is incorporated into one of these schemes. In implementing the compensation scheme should take appropriate measures to inform investors of the determination or ruling referred to in Article 2 (2), and when they get compensated to do so as soon as possible. Also set period during which investors can submit their claims. This period should not be less than five months after the said date or order or determination of the date such determination or ruling was announced. In Article 9 of Directive 97/9 / EC states that the work of the compensation scheme should ensure investor demands payment as soon as possible and no later than three months since the recognition of the legitimacy and the amount of claims. The Directive sets minimum compensation for investors - 20,000 euros. At then same time it allows the Member States to establish larger compensation. Therefore, it would be appropriate to create a Ukraine effective compensation schemes that adequately protect the rights and interests of investors and are pretty long used in the EU. Conclusions and prospects for the development. Given that Ukraine has made a commitment to bring national legislation in line with EU legislation on investor protection, it would be appropriate creation in Ukraine of dual compensation system, which would consist of state fund to guarantee investments in financial Services solidarity and guarantee fund investments.