On 24 March 2023, as part of the implementation of the Erasmus+ Grant program of the European Union in the Jean Monnet Module – “Role of Financial Consumer Protection in the Financial Stability in Digital Era: European Approaches” (620509-EPP-1-2020-1-UA-EPPJMO-MODULE), the Roundtable “Joining the EU through high standards in the field of financial consumer protection” was held at Kyiv National University of Technologies and Design. The event was moderated by the Dean of the Faculty of Management and Business Design, Doctor of Economics, Professor Oleksandra Olshanska, who invited the Rector of Kyiv National University of Technologies and Design, Academician of the National Academy of Pedagogical Sciences of Ukraine, Doctor of Economics, Professor Ivan Gryshchenko to open the Roundtable with a welcoming speech.
In his greeting, the Rector outlined the status and prospects of ERASMUS+ programs at Kyiv National University of Technologies and Design, focused on the importance and relevance of international project activities of the University’s faculty in the context of further integration into the European and global educational and scientific space, and expressed his sincere gratitude to all partners and participants of the Roundtable for their long-term cooperation.
Giorgi Gavtadze, Professor at Akakia Tsereteli State University (Kutaisi, Georgia), Head of the Interdisciplinary Research Cluster of Doctoral and Master Students, welcomed the participants of the Roundtable. In his speech, he congratulated the participants and guests on the start of the Roundtable, emphasizing its importance and relevance. Mr. Giorgi noted that Georgia’s consumer protection policy is also comprehensive, where the basis of an effective financial consumer protection system is an accessible and effective complaint mechanism that allows consumers to both know and assert their rights and ensure that their complaints are addressed transparently and fairly within a reasonable time.
The honorary speaker at the Roundtable meeting was Tetiana Yefymenko, Academician of the National Academy of Sciences of Ukraine, Doctor of Economics, Professor, Honoured Economist of Ukraine, and President of the State Educational and Scientific Institution “Academy of Financial Management”. Tetiana Ivanivna delivered a report on “Financial Sector of Ukraine in the Context of Strengthening the Resilience of the National Economy”.
In her report, Tetiana Ivanivna focused on the European integration vector of financial services market regulation.
Olha Prokopenko, Doctor of Economics, Professor at Estonian Entrepreneurship University of Applied Sciences, delivered a presentation on “Cooperation between Kyiv National University of Technologies and Design and Estonian Entrepreneurship University of Applied Sciences – a bridge to the best practices of financial services digitalization”, in which she stressed that the Jean Monnet Module is an important area of educational and research activity. Its goal is to promote the European idea (the idea of a united Europe) and to spread European studies in Europe and on other continents. The Jean Monnet Programme has three main objectives:
Olha Prokopenko emphasized that in addition to the cooperation in this area, Kyiv National University of Technologies and Design and Estonian Entrepreneurship University of Applied Sciences have developed other areas of cooperation, including publications in scientometric databases, participation in the KA 171 program – academic mobility of students and teachers, etc.
Vasyl Darkov, Chairman of the Board of the All-Ukrainian Association of Insurance Consumers “Insurance Protection”, Association of Financial Market Participants of Ukraine, Chairman of the Committee on Protection of Rights and Legal Interests of Consumers of Financial Services, expert of the National Bank on Financial Consumer Protection, made a thorough report “OECD Council Recommendations on Principles for a High Level of Protection of Rights and Legal Interests of Consumers of Financial Services”.
Oleksandr Lyubich, Doctor of Economics, Professor, Vice President of the State Educational and Research Institution “Academy of Financial Management” and Oleksandr Stryzhak, Doctor of Technical Sciences, Professor, and Advisor to the President of the Academy of Financial Management, presented a report on “Application of cognitive digital tools for analyzing financial narratives by the example of EU documents”.
Iryna Tarasenko, Doctor of Economics, Professor, Head of the Department, and Andrii Zolkover, Doctor of Economics, Professor (Department of Finance and Business Consulting of KNUTD) in their report “Peculiarities of the right to access public information of securities issuers: Ukrainian practice” analyzed Ukrainian legislation on access to public information under martial law.
Antonina Verhun, PhD in Economics (KNUTD) and Andriy Semenoh, PhD in Economics (Sumy State University) in their report “Financial Consumer Protection in the Digital Economy” focused on the fact that in order to harmonize the legislation of the European Union with the laws of Ukraine and ensure the protection of financial services of consumers, it is advisable to develop and approve unified standards for the provision of financial services to consumers, which would take into account the specifics of financial services; they provided a list of documents required for the provision of financial services,
Yana Oliynyk, Director of the Institute of Postgraduate Education of the State Educational and Scientific Institution “Academy of Financial Management”, Doctor of Economics, delivered a report on “Overcoming tax challenges arising from the digitalization of the economy in the context of the implementation of the BEPS Action Plan”. The report analyzed the chronology of the implementation of the BEPS Action Plan in Ukraine and the plan for implementation of the CRS (Common Reporting Standard).
Tetiana Dmytrenko, State Educational and Research Institution “Academy of Financial Management”, PhD in Economics, Head of the Department of International Finance and Financial Security, Department of Global Economics and International Finance, and PhD student Yulia Parkhomenko presented a report on “Digital Education as a Component of Financial Inclusion under European Standards for the Protection of the Rights of Depositors and Investors in the Financial Market”. During the presentation, the IT Generation educational project was announced. This is a project of the Ministry of Digital Transformation together with partners, the Binance blockchain ecosystem, and the Lviv IT Cluster. As part of the project, talents from any part of Ukraine will be able to get a profession in the IT field for free. IT Generation’s operational support is provided in cooperation with the USAID Competitive Economy of Ukraine Programme and with technical support from the UNDP’s Digital, Inclusive, Accessible: Supporting the Digitalisation of Public Services in Ukraine Project.
We sincerely thank the participants and guests of the Roundtable “Accession to the EU through High Standards in the Field of Financial Consumer Protection” for their interesting reports and rich and fruitful discussions!
Let’s move the educational and scientific front together to our Victory!
27.03.2023
