Poyda-Nosyk N. The system of control and regulation of corporate relations in Ukraine and ways of its impact on the security of joint-stock companies

Abstract

A general overview of the system of state regulation of joint stock companies (JSC) in Ukraine has been made. The main attention concentrates on clarifying the powers of the National Commission on Securities and Stock Market of Ukraine (SSMNC) namely such types of oversight procedures as prudential supervision, supervision of registration of shareholders and holding the general meeting. The system of protection of shareholder rights and enforcing those rights as stock Issuers has been described. It was proved that Ukraine's current system of regulation and supervision of the JSC is considered to be ineffective. First of all it is necessary to solve the problems associated with the lack of an effective system of monitoring and safeguarding the rights of shareholders, the slow development of the financial infrastructure, low share of organized stock market, lack of a developed stock depository and reliable systems. The author determined the main directions of state influence on  financial security of JSC, including: approval of the general regulatory requirements of the stock market regarding of JSC as issuers of securities, creating the necessary conditions for their development and proper registration of securities ownership; ensuring the sustainability of the stock market through the development and implementation of state policy for its development; formation of organizational and legal mechanisms to protect the corporate economic interests, corporate rights and preserve the integrity of the company; formation mechanisms and opportunities to improve corporate governance and, consequently, improve management of JSC financial security. The necessity of adjusting the strategy of state regulation of JSC's functioning and its focusing on streamlining of JSC’s relationship as issuers of securities and investors (shareholders) and the regulation of corporate relations and corporate governance in joint stock companies in general, was indicated.