
Possession of the civilized lobbying banks Bag
Alexander SITOUKHO
Is European Centre for Asset Protection
A man has three basic types of reactions to what happened in our lives: escape and avoid crisis support and adapt and change.
At the same relationship with any law and any other legal form. One can avoid doing business ladles. It can be adapted to be engaged in financial engineering and legal. And we can meet specific interests and expand its capabilities.
The situation in the field of banking law is different enough in other areas. The stability and reliability are key criteria for estimating the banking business. Bank is under strict state control and there is no analogue in any other case. So that strategy is not used here to avoid. The most common instrument is the inclusion of banking law. It's a shame that the contract often fails to master both directly to increased profits for the prevention of losses and therefore rates the performance of acts that, far from perfect.
Meanwhile, the state is developing slowly, we hear about a job as separate banks so that their partnerships aimed at improving the legal framework. Many different methods are used here as the cancellation of the offensive acts legal forms, development and promotion of necessary bills and subordinate regulatory acts, the public discussion of these projects. This activity is designated as pressure groups in developed countries. Is not well coordinated in Ukraine are coordinated and planned by the exclusion, but not the rule.
But awareness of the need for efforts to "building coalitions of resources financial and intellectual growing. Ukraine lobbyists making a professional and a concept is often seen as a dirty word. Conditions appear civilized lobbying are the best in banking. The greatest potential for intellectual and financial capital is concentrated here. Banks have lost recently, only instruments to achieve super profits to be interested in a reduction of state control.
But back to the original. We have said that one of the methods of reaction with the environment is an influence active change in the way that suits you. But before you start to influence, it is necessary to know exactly what it is not really so, it does not fit? And that must be defined the problems that other words would "make a diagnosis." It's easier because when the disease is diagnosed is half the treatment. But is so easy to define problems, as it seems at first sight. And you know, to understand exactly what is not if you need to know how to be and what it means " that "mean? And in general, is the main source of the problem. And if you continue the medical analogy of Health is not the absence of disease, but the presence of energy, freedom of action and the ability to derive pleasure from life.
Therefore, before finding and analyzing problems, including issues laws, we need to understand how the needs should be the "perfect" conditions for this system to be "treated." This formulation gives us not only the exact understanding of the problems, but offer many variations of their problems.
Sub For example, For example, a particular situation We would like to show how these problems are unmasked, which prevents the normal functioning of commercial banks in some areas. This is market share.
Today banks are major players in this market. In addition to its role will change. How does the analysis of international practice shows the evolution of market Securities of Ukraine may take after the European model and only the banks play the leading role, he said. major player to become major players.
In this situation, two influential organizations responsible for creating favorable conditions for the banking business – Association "First Bank System of Trade (IRP) and Association of Ukrainian Banks (AUB) decided to unite their efforts. Mission activities was a substantial improvement of the legal requirements for commercial banks work in the stock market. In accordance with the procedure described above method of these associations have decided to expose the real problems in the course of the bank as a model Main financial system and the universal financial institution. It should be emphasized that the use of these models has been controversial until recently. From the perspective of market shares on the main issue is that the bank can go only in securities transactions to be created or separate legal entity. Until recently, there is no pressure on White state and some international organizations to take advantage of this feature. Now the pressure you feel and how banks work is profitable for them. Some They created a merchant, some – an independent management was separated by a Chinese screen. "We have some examples in the two systems operate properly in a bank commercial bank that provides credit normal functions, services, etc treasury and investment banking services dedicated to stock investing, speculation, maintenance and strategic management and corporate investors.
But how do you know if they operate in the capital market each shareholder one of them had the same problems of complexity and backgrounds. Some results of the legislation in the past established through a theoretical sense without malice, and are now far past the needs of the market and some – the results the complex political game. We show that, due to the passivity and unorganized market participants and, obviously, to create maximum conditions for separate state organizations and officials.
No it takes a long time to explain the technical problems. And in a few days long list of problems (over 50 items) was formed which interfered with the operation normal commercial banks in the stock market. People always easy to share their complexities, especially people who can help avoid them.
Received problems were analyzed and divided into two groups: conceptual and legislative.
These abstract definitions higher than the total stock market immaturity and failure are included in the first group. And in relation to the same bank is not a risk diversification, lack of banks' refinancing mechanisms through of stock market instruments, including mortgages and private shame pension funds. Long lists of "painting the highest score" to legislation included in the second group. And some of them should be useful to pay attention a little more.
Corporate governance. There are many problems with the operators of the stock market will come on them sooner or later. The most important thing was overrated extends the control block of stock. In this case, the control block the action is considered interest as a number of shares of the company's legal service to make any changes in the capital of the company. Size is specified in the Companies Act of the economy in the territory of Ukraine. The owner of the tooth and nail to try to collect and maintain this package of shares and Foreign interests are in the market. The main problem that prevents the banking author prohibition of corporate bond issues totaling more than 25% legal capital (Article 13 of the Securities Exchange Act). Features reminiscent of the model clearly shows that the stock market of Ukraine and except banking monopoly sets added to all other major increase by issuing debt instruments ie bonds.
In the specific capacity issues corporate governance appropriate only banks are named as follows: the need to obtain permission from the National Bank of Ukraine to support commercial banks (article 34 of the Banking Act), the existence of these definitions are not uniquely interpreted as "impeccable corporate reputation," the failure of strict control of "qualifying." Many difficulties have also been observed that shareholders suffer non-resident banks (banking system of Ukraine does not welcome coming from abroad, many colleagues and among them there are real monsters in our standards that are able to offer challenges to domestic banks).
Financial instrument. It is the most complete course of painting. The stock suffered a large deficit liquid financial instruments, with time the situation only gets worse. It gives the impression that public agencies to assume responsibility for regulating the market and act on the principle of "less – the better." And the example striking is a bill of exchange. You can write books about the fate of the entities. This security and the stock market had no luck. First, the types of project bill or bank money – the question of security of the banks without affecting the trade (which, of course, since banks cash) has been dissatisfaction with the Bank Ukrainian national, and prohibited. Finance Bill exchange has quickly earned a reputation as an instrument of the uncontrolled emission of money and rested in peace movement crushed by the principles of law law. Of course, we must agree that to develop and difficult incalculate agreed system of regulation regulation impact financial instrument is more difficult than just shut … But the budget law of the memory of life changes in heart bakery and its rebirth is a priority task ahead. Security and Exchange Commission has maintained state of the opening of the National Bank of Ukraine. He said after bill of exchange – security is exceptionally documentary (his identity is in line with the movement of the Law Act) and requirements One explanation also long in Article 13 of the national deposit system and the characteristics of changing the security force of law in Ukraine. And Safety and the Commission Brokerage accounts have been banned for change in organized markets (stock exchanges and the First Stock Trading System). The bill of exchange problems are not just ended. Bankers name many other features, but also less pleasant phrase of legal regulation in this area.
Taxation. Traditionally it is a "dark zone" of the legislation of Ukraine in the maze without missing a single entity. There are two problems with the market values. First, taxation is a citizen incomplete "Income from securities services (Decree on Income Tax), which makes entry into market and participation in the turnover Interior huge investment potential. Secondly, it is a necessity for the formation of reserves to cover losses bank earnings has been provided by the NBU resolution # 629 dated December 30, 1999. The final document is often a major limiting bank run free in the stock market. standards set forth herein are such that in many cases, the bank has invested a large sum of values has to block the same amount in the reserve. Certainly, it is necessary to insure the risks, but again the precautions. And it's the same thing when a mother suspects that protect the child from the dangerous streets and limit it at home. One can well imagine what can happen when you let out … ..
Exchange Regulations. Regulatory system of the exchange rate as interface, a gateway that allows reception of funds by foreign investors in the stock market, and many things to do domestic investors to participate in efforts humble to place their capital abroad and play in the international market. Ukrainian system of trade regulation is archaic and its base is the decree on regulation monetary and exchange control. Furthermore, learning of these documents, co-relation of its rules with other laws regulating the Security Market provides a way for the Most of the explanations. We start with the definition of currency values that provided the first paragraph of this decree. At present, the authorization procedure to change operations that stand in the way banks work with the Department of Foreign Affairs of the State (Eurobonds), other securities denominated in foreign currencies is the main problem in the field of the removal of the stock market and exchange.
Terms of professional activities. negotiation Safety is a professional activity in the stock market (State Regulation of the Law of the Ukrainian market of security). Before describing the problem that banks face in this area is a secondary character, it is necessary to note about this board casus who played with the spirit operators over a long period. Now, there Ukraine official explanation, which can work with the titles and how? There are two polar views. First, the legal entity or natural person capable of can not rule out the news, without restrictions. Second, any Pidding securities trading securities must be made through the professional rider safety. Earlier there was a special report of the SEC and the securities markets criteria of professional status: what we can all look forward to concluding an agreement and a stockbroker? However, this report has been successfully eradicated by legal proceedings. And the Securities and Stock Market State Commission has no hurry to remove misunderstandings.
Many contradictions between values and the law of the stock market and banking law, exaggerated reports which have provided simply regularly certified by the auditors; requirements for certification by the bankers of the State relating to securities transactions, the draconian clauses licensing enforcement activities Professional (SSMSC Report # 60 14 March 2001) refer to other employment conditions are not very happy.
A lot of issues properly to the next step is necessary, as the resolution of priority.
Was conducted in the roundtable AUB special lung function tests and in April last year in "The commercial banks on capital markets: conceptual issues" Unlike many agreements Similar to the round table continued with the specific purpose, such as. identify key issues to the joint efforts of pulmonary function tests and AUB and banks that are members.
A pause combined efforts and their coordination is often very important for effective advocacy. These are often at the same time, several organizations trying to solve the same problem of spending resources and loss of time, which complicates the situation. Recently, the trend coordination of these actions is described in the regulatory field. It was launched as a result of the creation of the Coordinating Council of the self-regulatory organizations entered pulmonary function tests, the professional association of registrars and custodians, the Ukrainian association of investment last year. Collaboration Pulmonary function tests and AUB (made by the joint venture agreement) has the same purpose as well. Another example is a collaboration agreement between the recent PFP and the League of Insurance Organizations of Ukraine as the most active pressure fighting for the interests of insurers.
Back on the establishment of legal conditions for the activities of commercial banks in the stock market. "The mainstream of improving the laws of the activities banks in the stock market "is a document which became the result of the round table mentioned. It was approved by the Board of Directors of both associations. And is the basis for productive and quality. No special action only the elimination of local problems on its soil. This document became the element important development strategy adjustable entire banking system of Ukraine.
This example shows that at present the conditions for business real to influence government activities in Ukraine. Lobbying is a civilized inside the legislative process in any society gradually developed in Ukraine. It is not only an instrument of class interests, but also the most important for lawyers to establish the appearance of the surface quality of legislation.
It is a fact that does more to receive training institute in Ukraine lobbying enthusiastically. The legislative process provides an opportunity for the entire layer to demonstrate its capability to put the new stage of professional competence and personal growth. Participation in these projects lead to the formation and strengthening of the position working life. The rebirth of Ukraine is possible only because of these people.
About the Author
Александр Ситухо, управляющий партнер Восточно – европейского Центра защиты активов
Ayres Associates — Transforming Brownfields for a Brighter Future
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