Object of Information Administrative Services in the Ukrainian Stock Market

Main Article Content

Oleksandr Shevchenko


At the current stage, the Ukrainian stock market is far from stable. Financial stability is the guarantee and basis of sustainable development. It is expedient to study the stock market's problems in Ukraine in light of the prospects of European integration and the need to achieve sustainable development. So, this article examines the nuances of determining the object of information administrative services. Current legal regulations connected to the information rights in the stock market need clarification because of their role as sustainability drivers. This study separates the information-connected administrative services from the list of administrative services provided by the National Securities and Stock Market Commission. The scientific novelty of the presented results consists in identifying the object of information administrative services – the personalized information about legitimising the entity's activities in the stock market. The methodological basis of this study was the provisions of the theories of the stock market, financial law and sustainable development.


Download data is not yet available.

| Abstract views: 16 | PDF Downloads: 9 |

Article Details

How to Cite
Shevchenko, O. (2022). Object of Information Administrative Services in the Ukrainian Stock Market. Law, Business and Sustainability Herald, 2(2), 11–19. Retrieved from http://lbsherald.org/index.php/journal/article/view/37
Author Biography

Oleksandr Shevchenko, Sumy State University

Oleksandr Shevchenko, postgraduate student, Academic and Research Institute of Law, Sumy State University, Rimskogo-Khorsakova str., 2, 40000 Sumy, Ukraine, ORCID: https://orcid.org/0000-0003-4090-3645


Baskakov, V. Yu. (2011). Restricted information: concept and features. Actual problems of state creation: proceedings of the scientific and practical conference (Kyiv, June 28, 2011).

Cabinet of Ministers of Ukraine. (2011). Resolution of the Cabinet of Ministers of Ukraine on amendments to some resolutions of the Cabinet of Ministers of Ukraine on access to information No. 938 (2011, September 7). Retrieved June 20, 2022, from: https://zakon.rada.gov.ua/laws/show/938-2011-%D0%BF#Text [in Ukrainian].

Criminal Code of Ukraine (2001). Law of Ukraine No. 2341-III (2001, April 5). Retrieved from: https://zakon.rada.gov.ua/laws/show/2341-14#Text [in Ukrainian].

Dudorov, O.O., & Pysmennyi, Ye. O. (Eds.). (2012). Criminal law (Special part). Vol. 1. Luhansk: Elton – 2 [in Ukrainian].

Faghani F., Habibi S., Tabatabae S. M., Razavi L. & Emadzadeh M. K. (2013). The Role of Information Technology on Stock Market Development. Іnternational Journal оf Academic Research іn Accounting, Finance аnd Management Sciences. Vol. 3, №. 1. URL: https://hrmars.com/papers_submitted/10293/the-role-of-information-technology-on-stock-market-development.pdf (дата звернення 20.06.2022)

Fischel D. R. & Carlton D. W. (1982). The Regulation of Insider Trading," 35. Stanford Law Review. URL: https://chicagounbound.uchicago.edu/cgi/viewcontent.cgi?referer=&httpsredir=1&article=2424&context=journal_articles (дата звернення 20.06.2022)

International Organization of Securities Commissions. (2003). Report оf the Emerging Markets Committee of the International Organization of Securities Commissions. https://www.iosco.org/library/pubdocs/pdf/IOSCOPD145.pdf

Kiymaz Н. (2001). The effects of stock market rumors on stock prices: Evidence from an emerging market. Journal of Multinational Financial Management. 11(1). DOI:10.1016/S1042-444X(00)00045-1

Kormych, B. A. (2004). Organizational and legal foundations of the information security policy of Ukraine. Extended abstract of candidate’s thesis. Kharkiv [in Ukrainian].

Kwabi F. O. & Boateng A. (2021). The effect of insider trading laws and enforcement on stock market transaction cost. Review of Quantitative Finance and Accounting. Vol. 56. p.р. 939–964.

Lambe В. (2012). Is insider trading regulation effective? Evidence from UK takeover activity. Journal of Governance and Regulation. 1(2). DOI:10.22495/jgr_v1_i2_p2

Law of Ukraine on access to public information No. 2939-VI (2011, January 13). Retrieved from: https://zakon.rada.gov.ua/laws/show/2939-17#Text [in Ukrainian].

Law of Ukraine on capital markets and organized commodity markets No. 3480-IV (2006, February 23). Retrieved from: https://zakon.rada.gov.ua/laws/show/3480-15#Text [in Ukrainian].

Law of Ukraine on state statistics No. 2614-XII (1992, September 17). Retrieved June 20, 2022, from: https://zakon.rada.gov.ua/laws/show/2614-12#Text [in Ukrainian].

Lipkan, V. A., & Kapinus, L. I. (2013). Access to restricted information: problems of developing unified definitions. Public law, 4(12), 42-53. Retrieved June 20, 2022, from: file:///C:/Users/%D0%90%D0%B4%D0%BC%D0%B8%D0%BD%D0%B8%D1%81%D1%82%D1%80%D0%B0%D1%82%D0%BE%D1%80/Downloads/pp_2013_4_8.pdf [in Ukrainian]

Marchand D. A. & Tyer Charlie B. (2007). Вudgeting information resources: Some alternative approaches. International Journal of Public Administration. DOI: https://doi.org/10.1080/01900697908524361

Marushchak, A. I. (2007). Information law: Access to information. Kyiv: KNT [in Ukrainian].

Mitchell M. L. & Mulherin J. H. (1994). The Impact of Public Information on the Stock Market. The Journal of Finance. Vol. 49, №. 3. pp. 923-950.

Nashynets-Naumova, A. (2016). The concept and features of inside information as a special kind of restricted information. Entrepreneurship, economy and law, 4 [in Ukrainian].

National Securities and Stock Market Commission. (2013). Decision of the National Securities and Stock Market Commission on disclosure regulation No. 2826 (2013, December 3). Retrieved June 20, 2022, from: https://zakon.rada.gov.ua/laws/show/z2180-13#Text [in Ukrainian].

Parshin, S. M. (2006). Secrecy in criminal law (theoretical and applied research). Extended abstract of candidate’s thesis. N. Novgorod.

Roztocki N., Soja P. & Weistroffer H. R. (2019). The role of information and communication technologies in socioeconomic development: towards a multi-dimensional framework. Information Technology for Development. Volume 25, Issue 2. https://doi.org/10.1080/02681102.2019.1596654

Saienko, V. V. (2002). Legal regulation of the use of inside information in the securities market. Extended abstract of candidate’s thesis. Kyiv National Taras Shevchenko University. Kyiv.

Shevchenko, S., Zhdanova, Yu., Skladannyi, P., & Boiko, S. (2022). Insiders and inside information: essence, threats, activities and legal responsibility. Cybersecurity: education, science, technology, 3(15). https://doi.org/10.28925/2663-4023.2022.15.175185

Shulha (Mihus), I. P. (2010). The role of inside information in ensuring the economic safety of joint-stock companies. Investments: theory and practice, 17.

Sorbat, I. V. (2012). The corporate information portal is a tool to combat insider activity in the system of economic security of an enterprise. Financial and criminal activity: problems of theory and practice, 1, 162–168.

State Committee for Communications and Informatization of Ukraine. (2003). Order of the State Committee for Communications and Informatization of Ukraine on the procedure for providing information and other services using the electronic information system “Electronic Government” No. 149 (2003, July 15). Retrieved from: https://zakon.rada.gov.ua/laws/show/z1066-03#Text.

Voronova, L. K. (Ed.). (2011). Dictionary of financial and legal terms. (2nd ed., rev. and upd.). Kyiv: Alerta.

Vyslotska, T. Yu. (2018). Criminal law protection of secrecy in Ukraine. http://dspace.lvduvs.edu.ua/bitstream/123456789/719/1/vislotska%20aref.pdf.

Zhang Y. & Сhen Hao-jia. (2017). The Effects of Rumors on Stock Prices: A Test in an Emerging Market. DEStech Transactions on Social Science Education and Human Science. DOI:10.12783/dtssehs/aeme2016/7479.

Ziemba, E. & Obłąk, I. (2014). The survey of information systems in public administration in Poland. Interdisciplinary. Journal of Information, Knowledge and Management. 9. URL: http://www.ijikm.org/Volume9/IJIKMv9p031-058Ziemba468.pdf

Zolotar, O. O. (2022). Restriction of access to information: information and legal aspect. http://archive.nbuv.gov.ua/portal/soc_gum/iblsd/2012_1/_private/13zooala.pdf