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The use of digital technology in finance has led to the creation of more efficient and convenient financial services at lower costs, providing customers with a more attractive experience than traditional financial services. This trend has become dominant in recent decades, but it is a relatively new field in Vietnam. Vietnam has great potential for financial technology (hereafter referred to as fintech) development: the young population is increasingly using digital technologies in their daily lives, and the country has a relatively developed telecommunications and e-commerce infrastructure. However, fintech in Vietnam also faces many challenges, such as information technology risks, increased competition in the financial institution market, and difficulties in non-banking organizations management and supervision. Coordination among government agencies, fintech businesses and citizens is needed to address these challenges. The government needs to improve legal policy, raise public awareness, and create favorable conditions for fintech development. Fintech companies need to improve their products and services quality to meet people’s needs. The population needs to be aware of financial technologies to be able to effectively use fintech products and services.

The trend towards the development of neobanking has swept almost the entire world, changing traditional banking and shaping the offer of digital financial services. The Asia-Pacific region is characterized by the dynamic spread of neobanking, which is significantly facilitated by the demographic situation and the increase in the number of technology companies with a corresponding increase in the number of IT devices. The use of fintech services in the Asia-Pacific region is growing dynamically. The leaders in terms of growth rates are China, Hong Kong, Singapore, and South Korea. According to current forecasts, another 663 million people in the Asia-Pacific region will start using mobile Internet by 2025, which will contribute to the further development of neobanking. The number of neobanks in the Asia-Pacific region lags behind the countries of Europe and the United States, but their number is growing at a much faster pace. Despite the constant growth in the number of consumers of neobank services in the region, there are also constraints that hinder growth. These include: lack of trust in services of the new format, reluctance to change the provider of financial services, and lack of information about the capabilities of neobanks. Also, in some areas, there is virtually no stable access to the Internet, this becomes another obstacle to the activities of neobanks. The number of neobank users in the Asia-Pacific region is constantly growing – from 2.9 million people in 2017 to 22.8 million people in 2021. In each market of Southeast Asia, regulatory authorities have their own specifics of regulating the activities of neobanks, regulations vary significantly depending on the country. As a result, the range of services provided by neobanks in the countries of the region is different: from a full range of banking services to a narrow specialization in servicing small business owners. Further prospects for the development of neobanking in the countries of the Asia-Pacific region depend on the following main factors: State regulation of the banking sector; technical capabilities of neobanks to personalize financial services, process large amounts of data and conduct online transactions; competition or cooperation with traditional banks. There is already a tendency in the world for traditional banks and neobanks to search for mutually beneficial options for cooperation. For example, P2P lending and P2B lending, in which traditional banks are trying to participate, teaming up with neobanks. Neobanking is also supported by the issue that modern bank customers are less and less inclined to visit physical bank branches to conduct financial transactions. It is concluded that although there is a significant number of the population not covered by banking services, the development of neobanking in the Asia-Pacific region is proceeding at a rapid pace, which is facilitated by demographic indicators, high rates of economic growth, and cooperation with traditional banking institutions. Malaysia, Indonesia, the Philippines, Vietnam, India, and Thailand have the greatest potential for the development of neobanking.

Commitment of leading Russian and foreign companies to digital business models confirms that fintech is a driver for the digital economy and socio-economic development. Under growing exogenous uncertainties and sanctions to the financial sector, assessing the current trends and prospects in fintech is of particular interest. The article uses statistical and analytical methods to evaluate the empirical data, gathered by the Federal State Statistics Service, the Bank of Russia, and different experts. Until 2022, the fintech market in Russia was the leader in attracting venture capital funding. The authors identified three waves of market shocks in the current development of the Russian fintech market. Fintech companies overcome each subsequent shock much faster than the previous one, which indicates a high inherent adaptability. The article highlights trends in business, fintech, information and communication technologies, typical for the modern Russian economy. Despite the high volatility of the current period, in terms of the fintech solutions development Russia remains competitive. The development of independent technologies and services by the IT and financial markets, preferentially regulated by the Bank of Russia, seems feasible and viable.

The trend towards digitalization of all spheres of public life has also affected the economic sector. The needs and requests of customers of banks and other financial organizations are changing. An increasing number of consumers are choosing remote interaction instead of personal contact. Such changes put the financial services sector in front of the need for a comprehensive transformation of business processes in the direction of information technology. The relevance of the work lies in the widespread distribution of remote channels that simplify the process of obtaining financial services. The article discusses the main trends in the digitalization of the financial services sector and the factors contributing to such changes. The purpose of the study: to consider the main trends in the digitalization of the financial services sector and the factors contributing to such changes. Materials and methods. The methodological basis of this study is the analysis of regulatory documentation, classification, generalization. Results: recommendations were developed and given to ensure the availability of financial products and services for the population and business, which in the future will contribute to sustainable development and increase the competitiveness of the financial sector. Practical implications: the results obtained can be used as a basis for the development of strategies for the introduction of digital technologies in financial organizations.

The publication substantiates the intensification of digitalization and its importance in the development of the digital economy. The dynamics of indicators characterizing the rise of the information and communication technology sector are examined. In addition, the main indicators of Internet development (number of Internet users, number of mobile Internet users, share of mobile data traffic, global Internet penetration rate, number of Internet users in the world, number of active social network users, number of smartphone users) are considered. The dynamics of global growth in the number of Internet users by region of the world are shown. A number of technologies, which create new activities and services in payment sphere and are characterized by a rapid development, are defined: mobile technologies in commerce, communications, etc.; artificial intelligence technologies for decision-making and chat-bots for consultation, etc.; progressive web applications, which provide reliable interaction with the user; blockchain technologies, which become a new basis for organization of transactions; wireless communication technologies; Big Data for data management and analysis; electronic identification technologies. The growth of the scale, role and influence of digital platforms at the global level as one of the digital economy development trends is shown, and the leaders among them in terms of brand value are provided. The features of national (supranational) models of digital economy development (American, Chinese and European), which form its global centers, namely, development strategy, market orientation, goals, objectives, ways to achieve leadership in information and communication technologies, approaches to digitalization, regulation, government support for information and communication technologies sector, data protection and privacy, national security, competition policy in the digital economy are considered and substantiated. The main indicators of FinTech development and investment in the sphere of FinTech in the world are analyzed. The EU as one of the world centers of FinTech development is considered. The intensive development of digital financial, special and auxiliary technologies used in FinTech is substantiated. The level of FinTech development in Ukraine was analyzed, the main fintech companies by directions and digital banking systems in Ukraine were reviewed. It is shown that the FinTech regulatory system is at the stage of formation.

The article examines the macroeconomic indicators of the EAEU countries, used in quantitative methods for assessing financial integration, as well as a number of documents that form the common financial market (CFM) of the EAEU.Aim. To identify the content of the concept of the EAEU CFM, having determined the elements of control of the movement of financial services and capital, to assess the possibilities of its formation, taking into account the achieved integration.Task. To confirm the hypothesis that the insufficiently high existing level of financial integration in the EAEU is the reason why the mechanisms of the EAEU CFM cannot be sufficiently developed.Methods. Correlation analysis, analysis and comparison of texts.Results. Capital mobility is high in Russia and Kyrgyzstan. Converging consumption growth rates is a sign of equalizing financial risks. The countries differ in their exchange rate regimes, two of them maintain a double exchange rate, three have requirements for the repatriation of foreign exchange earnings. Capital flow measures are multidirectional. The CFM assumes the approximation of legislation in the field of financial services. Countries only commit to cross-border supply and consumption abroad for four subsectors, commercial presence is governed by national legislation, and the presence of natural persons is subject to migration regulations. The obligations to liberalize the services market taken to the WTO are not uniform, and the list of exemptions from obligations under the EAEU Treaty is more restrictive than obligations to the WTO. Most of the foreign exchange regulation measures are implemented in accordance with national laws. Investors from member states do not receive national treatment upon establishment.Conclusion. The hypothesis is confirmed. The significance of the work for the theories of financial integration lies in the identification of the forms in which the CFM EAEU exists. The recommendations are intended for use in the work of the Eurasian Economic Commission.

Government expenditure is an essential instrument for achieving full employment, price stability, improved standard of living, economic growth and other macroeconomic objectives. However, questions regarding the efficacy of government expenditures to attain these objectives have continued to rise due to the alarming rate of unemployment, inflation, poverty and other socio-economic problems in Nigeria. This has called for the need to investigate the allocation of resources to some selected sectors and their resultant impact on the Nigerian economy. This study examined the effect of various components of Government Expenditures on Economic Growth in Nigeria for periods between 1981 and 2020. The analysis was based on Secondary data. The study adopted the Error Correction model and Granger Causality Test. The short-run model revealed that the components of government expenditures like recurrent expenditures on agriculture, health and education have an insignificant negative impact on economic growth. Recurrent expenditure on debt servicing and road and construction indicated a positive and negligible impact on economic growth. Concerning capital expenditures, government capital expenditures on social services were shown to have a negative and significant impact on economic growth. In contrast, government capital expenditures on economic services indicated a positive and insignificant impact on economic growth in Nigeria. In the long run, all the components of government expenditures employed showed a significant effect on economic growth. The research finding establishes no clear conclusion about whether Keynesian or Adolf Wagner's law is operational in Nigeria. The study concludes that the Nigerian economy is on the wrong path to sustainable growth and development. The study recommends that the government should increase its allocations to priority sectors like health, education, agriculture and infrastructures. Furthermore, the government should stimulate investment and output using monetary and fiscal policies to increase internally generated revenue and reduce government borrowing. Lastly, the study emphasises the need to improve government spending efficiencies, transparency in budgetary processes, and strict monitoring of government projects.

The article is devoted to the study of Islamic insurance in the United Kingdom. It has been established that insurance is a major component of the state’s financial system. At the same time, there has been a rapid development of Islamic finance in recent years. The total Muslim population in the UK in 2020 is 4,130,000. Despite its low Muslim population, Great Britain is taking a proactive stance in developing Islamic finance. Despite the low number of Muslims, Great Britain is taking an active position in the development of Islamic finance. The country has established principles for the development of takafuls, and the market is being regulated. In addition, an ambitious target has been set for London to become an Islamic finance centre. There are currently positive trends in the takaful market. Despite this situation, further development in this area is required.

The article is aimed at analyzing the activities of domestic banks in the digital economy. The publication proves the need to consider the digital economy as an economy based on the use of digital data and is not limited to the trade sphere. Accordingly, it is proposed to consider the process of digitalization of the banking sector as a process of transition of the banks’ activities from the traditional form to one based on the use of information and communication technologies. The digitalization process has both a negative and positive impact on the activities of banks. As a result of new technologies, the advantage of banks was leveled, which was based on the use of expensive system software for their work within the framework of the desintermediation process. Under the new conditions, large global or local tech giants have significantly influenced the market, which, having a large customer base, additionally offer them financial services. Significantly affect the market the neo-banks, which, having transferred most of the activity online, caused the need to revise the feasibility of the existence of bank branches. Fintech companies have become the main competitors of banks, which is explained by their awareness in the innovation market and great flexibility. At the same time, cooperation between banks and fintech companies is promising. The article takes into account the impact of the pandemic on the financial services market and the activities of all participants, including banks. A significant restriction of social contacts led to the transition of a large number of services online, including the banking ones. Customers of banks received a push to use mobile applications. In a pandemic, the criteria that influence the choice of the bank have significantly changed. Changing priorities towards a greater choice of remote services, the convenience of obtaining them, should be taken into account by banking institutions in their activities.

The article is devoted to a new type of supervision of financial market participants - behavioral supervision of the Bank of Russia. Behavioral approach to the protection of financial services consumers rights is treated in the zone of action of the administrative-legal regulation mechanism. The authors point to the public nature of the subject composition of its implementation (the Bank of Russia and the executive authorities); the possibility of using the judicial (consideration of citizens' appeals) and (as a result) jurisdictional (bringing the violators of the financial services consumers rights to administrative responsibility) procedural administrative and legal algorithms. The article outlines the types of the behavioral supervision regime of the Bank of Russia. Reactive behavioral supervision is a reaction of the Bank of Russia to complaints or received information about unfair behavior of the financial company towards the consumer. Preventive behavioral supervision is associated with the prevention of serious violations of citizens rights by supervised organizations. Particular attention is paid to consumer risks, the identification of which is one of the goals of behavioral supervision. Supervisory behavioral aspects are closely associated with the financial consumer protection as an important part of the control and supervising activity of the Bank of Russia. Also, the authors analyze the goals and content of behavioral approach to the financial management aimed at minimizing unfair practices. To gain the aim of the research the authors apply general scientific methods (synthesis and analysis, induction and deduction, generalizations) and special methods (formal-legal method). By using general scientific methods and formal-legal method authors investigate the organizational and legal basis for the implementation of behavioral supervision in Russia and determine its advantages and disadvantages. The study expresses assertion that there is the need to place behavioral supervision in the legislative framework, to formulate a definition of behavioral supervision, to clarify the scope and powers of the subjects of its implementation, to determine the content of administrative procedures for the implementation of various types of behavioral supervision within the framework of the interaction of the Bank of Russia and the executive bodies involved in its implementation.

In connection with the introduction of a high alert and self-isolation regime in the Russian Federation due to the coronavirus pandemic, the issue of remote financial services for individuals, especially the remote opening of accounts, deposits and lending to new customers, is particularly relevant in the banking community. The aim of the article is to propose additional regulatory measures to those already introduced in order to improve the process of financial service provision to individuals in a remote format. The research method is the study of various acts of state bodies (normative acts and newsletters), including those adopted during the period of high alert, as well as surveys of National Council of Financial Market member financial organizations on the impact of measures taken on their activities concerning the provision of services to individuals as well as suggestions for improving them. The article includes an analysis of regulators’ most important decisions on the issue and an evaluation of their impact on the sphere regulated, along with a consideration of international regulating experience in remote identification procedures. Based on the results of the work, conclusions are drawn on the appropriateness and sufficiency of the regulatory measures taken to ensure remote financial services for individuals in conditions of self-isolation as well as on promising ways to further improve the current legislation in this area.

The paper is devoted to the issues of the study of the nature of financial intermediaries in terms of their role in financial markets and their types existing in different regions of the world. The place of financial intermediaries among other participants of the financial market is considered, it is described what positive effect they allow to achieve to other entities who use their services. The types of services they provide are outlined, as well as the new types of services of financial intermediaries beginning to be in demand. The American, European and Ukrainian models of classification of financial intermediaries are analyzed and logical connections between the variety of types and types of financial intermediaries, which are represented in the financial market of a certain region and the level of its development, are found. It is found out how classifications can be changed as a result of the development of certain types of financial intermediaries on the example of changing classifications in American economics. The key differences in the American and European classifications are highlighted and their reasons are substantiated. The paper analyzes the financial intermediaries, which are insufficiently developed in Ukraine in comparison with the American and European markets. The other classifications are also provided that may be useful in the process of analyzing the activities of financial intermediaries. The results of this study can be used as a basis for further study of the nature of financial intermediaries in the development of state policies to regulate the financial market of Ukraine and in the development of bills that determine the legal status of financial intermediaries in Ukraine.

The globalized financial system, strengthened by the digitalization of society, has led to the growth of a significant part of tax-exempt incomes in Ukraine, which necessitates the immediate reform of all segments of the financial system. A system analysis of the modern financial market is carried out. New types of financial instruments are considered – active (financial intermediaries, financial services executors, financial engineers, etc.) and passive (cryptoassets, tokens of various types, including cryptocurrency), their classification is analyzed together with the appropriate infrastructure that is blockchain. Features of development of financial instruments of the financial services market are identified. The concept of digital finance is separated from cryptofinance and the irreversible transition of the world financial system into the cryptofinancial is substantiated. The materials of the article can be used for further development of the theory of cryptofinance and creation of a regulatory base on functioning of the State cryptofinancial system.

The article covers topical issues related to the legislative settlement of consumer rights protection of the financial services market. It is identified that the reforms taking place in the financial market of Ukraine have certain results: the credit register of the National Bank is created, the purpose of which is reduction of credit risk, security of banking operations, protection of interests of depositors and other creditors of bank; the system of guaranteeing deposits of natural persons has been updated; the legislative bases for establishment of the institution of financial ombudsman is laid down in order to settle disputes between the actors of financial sector and the consumers of financial services. The main institutional changes in the financial market of Ukraine, powers and functions which will be transferred to the State financial institutions in connection with reforming are defined. The new regulation will concern insurance companies, credit communities, pawnshops, leasing and factoring companies, as well as other financial companies that deal with currency exchange, money transfer, issuance of loans, guarantees and so on. In Ukraine, the special State-administered bodies today have no real leverage over the violators of financial services. Therefore, the implementation of an effective consumer protection system in Ukraine should be formed on the basis of best practices of the European Union Member States.

Purpose. The purpose of this work is to investigate processes constituting to Dynamic Capabilities in companies of the German financial services industry. Design/Method/Approach. Exploratory with a qualitative approach and a multiple case study method. Findings. The results indicate a connection of Dynamic Capabilities and the dynamism of the environment. The actual Dynamic Capabilities seem to operate in business model related activities, such as distribution channels, but not in product development. Theoretical implications. Suggestions are given for the development of a comparative measurement concept for Dynamic Capabilities. furthermore, the inclusion of environmental dynamism in the research is emphasized. Practical implications. Firms can use the structure of sensing, seizing and reconfiguration and apply the dimensions for the relational measurement to evaluate their innovation activities. Originality/Value. Connections of Dynamic Capabilities to the environmental dynamism were found. Furthermore, the process lens of this research makes the theoretical concept of dynamic capabilities more graspable and gives suggestions for an operationalization. Paper type – empirical.

The actual directions of development banks’ activity are determined. Financial technologies are actively used in the production and sale of financial services. Analysis of the materials of the Asian Development Bank, dedicated to the issues of using the digital economy, made it possible to identify the opportunities for the development banks of the fintech: identification and biometrics, rapid payments, large data analytics, blocking technology. Fintech will allow development banks to change the mechanism for planning and implementing projects, to increase the effectiveness of creating “chains” of value. Vnesheconombank’s projects related to fintech, in particular, the use of blocking technology in public procurement, are presented. At present, Vnesheconombank is successfully mastering Fintech and has good prospects for its use in practice.

In the article on the basis of the analysis of financial, administrative, civil law and theory of administrative -legal provisions considered and investigated the concept of «financial market» and «financial services» identifies the main functions of financial market classification of financial markets according to certain criteria, researched the subjects and objects of the financial market, the content of administrative legal relations arising between the participants of the securities market, as well as control and supervision in the financial markets.

The paper presents comparative analysis of global approaches to customer due diligence in financial services based on risk-oriented approach and global afford of implementing the financial inclusion policy. Our analysis shows that international practice tends not distinguish between remote and face-to-face identification. Collection of identifying information is being supplemented by the search of new authentication methods, e.x. confirming client’s identity using various sources of information.

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This article reveals the essence of the concept and meaning of financial awareness, literacy and education in the conditions of modern financial legislation. Also, the study summarized the results of the analysis of the level of financial awareness of the population and found that the level of awareness of the population with financial law, to date, leaves much to be hoped for. In the course of work the strategic directions of raising the level of financial awareness of ordinary citizen and the importance of financial literacy of the population for both personal and material well-being of citizens and for the state as a whole are outlined.

This article examines the evolution of approaches to the financial sector display as a part of the economy on the conceptual basis of the System of National Accounts. The main prerequisites for the formation of SNA are revealed. The formation of the methodology of national accounting and the impact of the development of economic theory on it are traced. The role and interconditionality of the Keynes' macroeconomic theory as a methodological basis of the SNA and the SNA as an empirical basis of macroeconomics are defined. The international standards SNA-1953, SNA-1968, SNA-1993 and SNA-2008; the features of presentation of the financial sector and its subsectors composition in standards are analysed.

The subject of the study is Product Placement as a marketing communication tool, which, in the author's opinion, is aimed at to effectively communicate information about the financial institutions services to the end users. By organically introducing Product Placement in a TV or movie, the hero of a particular story demonstrates the benefits of using this particular financial service in real life. The Product Placemen has a good history in the soviet cinema and TV industry. At the same time, today it is rare to see the Product Placement for the promotion of financial services. We need to fill the gap on this tool, to finally solve the problem of insufficient population financial literacy. The purpose of the article is to investigate the prospects of Product Placement in the financial services market in order to solve the problem of insufficient financial literacy of the population and, as a result, to become one of the effective tool to support financial system of Ukraine. The leading foreign and domestic scientists works – devoted to overcome multinational financial crisis, to improve the financial literacy of the population, the basic communication theory, the integrated marketing complex, financial marketing, Product Placement as an effective marketing communication tool, etc. – was the methodological and theoretical basis of the research. The study implied the use of the scientific methods: analysis and synthesis, the historical method, methods of induction and deduction, comparison and generalization. The study showed despite promotion of the financial products is at rest, Product Placement as a harmonious combination of image advertising and product advertising in the plot of the artwork has become a significant communication segment that has penetrated the sphere of cinema and television. For marketers, this is one of the ideal promotion tools that shapes the image of a company or brand in the minds of consumers, including when placing products of financial companies. Conclusion. Solving the problem of insufficient level of financial literacy of the population is one of the tasks on the way to achieve a dynamic development of the financial services market, which, in turn, is a guarantee of economic security and welfare of the state. The Product Placement technology provides more elegant form of information delivery, providing unlimited opportunities for creative, non-standard and effective ideas. However, this requires that the spread of financial services has reached a new level, becoming a necessary and obvious component of the way of life of an ordinary citizen.

The Article is devoted to present the problem of microlending to small businesses. Microfinance encourages self-employment of the population and the development of domestic small and micro business.based on the methods of analysis, synthesis, generalization and scientific abstraction, we can conclude that domestic MFIs begin to perform the function of satisfaction in the financial services population, small and micro enterprises in terms when these subjects of the economy are unavailable or inaccessible services of credit institutions (both banks and non-Bank credit institutions). Despite the positive impact of MFIs on the domestic economy, their activities could be more effective. Currently, MFIs are not able to fully Udo-uletaite the demand for financial services, including due to the low resource base of the MFIs. Independently MFI can solve this problem at the expense of increase of tariffs for the services rendered that would affect the availability of their services and in result will prevent the solution of the problem of expanding the range of potential customers of financial services. In the interests of further development of MFIs of expanding access to financial services is proposed to develop measures for a substantial increase in the resource base of MFIs, providing them with available funding.

The article shows the formation of the British financial services industry in the 1690's and the reasons of the first joint-stock companies’ boom of 1691–1693's. The author describes the course of events of this boom, and data on the volume of transactions in shares. The reasons of the joint-stock boom end are associated with very low capitalization of most of the new companies. The consequence of rapid economic growth in England in the late XVII century was the appearance and rapid development of financial services. Financial intermediaries appeared first and their services, in particular the services of insurance companies, were in demand. The rapid increase in the number of insurance companies has become prerequisite for becoming financial capitalism that led to the emergence of other intermediaries which provided financial services. Among them there were the so-called "notaries" that offered a full range of services related to land transactions and "bankers, jewelers," that woke the first private bankers. Thus, in the early 1690's London had a favorable environment for the rapid growth of the financial market, which was the main precondition for expanding market shares and led to the joint-stock boom.

Principal directions of financial sector analysis are considered in the article. Various approaches for definition of financial sector in national and foreign literature are systematized. Main classifications and groupings for the allocation of institutional units between sectors and subsectors of the economy are presented. Connection between individual sectors and subsectors is estimated.

The lack of a comprehensive approach to the accounting reflection of repayable financial aid makes it impossible to establish an information base for the evaluation of its attraction and use. Therefore, to ensure completeness of operations related to the involvement of financial assistance is only possible through the use of scientifically based methods of accounting and scientific researches in the field of accounting should be directed at ensuring stable financial condition of the enterprise, improving management decision-making to attract and use financial aid and prevent violations of the payment discipline. Based analysis approach to mapping returnable financial assistance has shown that the accounting staff has no single method for such transactions. In order to eliminate this disadvantage we offer to display repayable financial assistance as a part of the loan capital through the use of 609 "Swivel financial assistance" account to the opening of the analytical account of 609.1 "Swivel financial assistance in the national currency", and 609.2 "Swivel financial assistance in foreign currency" and the account of 505 "Long-term financial assistance in the national currency" and 506 "Long-term financial assistance in foreign currency".

The subject of research is the financial relations arising in the process of financial transactions which carried out by financial and leasing companies. The purpose of research is to assess the current state of financial and leasing activity of companies in Ukraine, their development trends, causes and consequences of macroeconomic imbalances. Methodology work is the general scientific methods of cognition, conceptual principles of modern economic theories. The results of the work. The financial and leasing activity of companies in Ukraine, as a financial market participant, is studied, prospects and trends for future development are determined. Conclusions. Today, there is recovery of the national market and financial leasing companies, but such a development is not dynamic, due to the low level of protection of consumers of financial services, the close interconnectedness of the banking and insurance industries, imperfect and inadequate government regulation, low solvency of the population. Given the analysis and revealed tendencies show that provided economic stabilize further development of the leasing services market in Ukraine is quite possible.

The article studies essence and purpose of activity of financial intermediaries in Ukraine. It analyses scientific works of foreign and Ukrainian scientists, on the basis of which it performs systematisation of views of researchers with respect to the essence of such terms as financial intermediary and financial intermediation. The author offers own interpretation of the financial intermediary notion. It identifies the goal of activity of financial intermediaries at the macro-level and micro-level with the help of consideration of their functions. In the result of the study the article establishes that study of functions of financial intermediaries at the macro-level allows analysis of the general level of the country economy development depending on the level of development of financial intermediaries, and consideration of functions of financial intermediaries at the level of population and individual subjects of economy (individual investors). The article considers functions and conducts classification of financial intermediaries depending on the financial market segment.

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Article is devoted to the analysis of patterns and trends in sustainable market. The urgency of market research services and its constant diversification, as well as mechanisms of regulation and functioning is grounded. The main factors of the market in terms of sustainable development are investigated. Reveals the content of the main factors that affect the formation of a market in Ukraine and the analysis of the dynamics of their development are defined. The features and functioning of the main trends in the service sector are analyzed.Статья посвящена проведению анализа закономерностей и устойчивых тенденций развития рынка услуг. Обоснована актуальность исследования развития рынка услуг и его постоянной диверсификации, а также механизмов регулирования и функционирования. Рассмотрены основные факторы формирования рынка услуг в условиях устойчивого развития. Раскрыто содержание основных факторов, влияющих на формирование рынка услуг в Украине и проведен анализ динамики их развития. Проанализированы особенности функционирования и определены основные тенденции изменений в сфере услуг.

The article grounds the necessity to form the micro-financing institution as an essential factor in solving the problem of availability of financial services for the population and strengthening the financial-credit system of the Russian Federation. Basing on the analysis of micro-financing sector in Russia and abroad the modern trends and prospects of its development are viewed, main directions of micro-financing market growth are suggested, proposals for stable functioning of micro-financial organizations in Russia are elaborated.

The article reviews place and role in the finance law of the European Union of the host member state control principle related to operations of credit and financial institutions in EU, as well as it discovers sources and legal grounds for such principle. The emphasis is given by the author to the analysis of the Directive in relation to the main powers of the host member state. The article examines specifics of the host member state, the home country and the professional client concepts. Additionally types, varieties and content of host member state control regulations for companies rendering financial services are being observed. The author hereby addresses range of problems arising out of absence of distinct separation and duplication of control powers between the home and the host EU countries. The article characterizes the role of the Court of Justice of the European Union in affirmation of the host member state control principle in the European finance law. Therewith the article reviews the case-law of the Court of Justice of the European Union which has great impact on formation and development of the host member state control concept. The article is being finalized by analyses of the current control strategy over capital movement in the European Union.

The article deals with peculiarities of legal position of the most common commercial organizations attracting fiscal funds (credit and insurance organizations, collective investors). These legal persons play a significant role in the Russian economy, their activity determines the success of reforms in our country. Law on commercial organizations providing financial services is still in the process of formation and demands close attention from legislative power.

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