This dissertation provides a comprehensive theoretical and applied study of the economic and legal framework governing the activities of self-regulatory organizations (SROs) of insolvency practitioners in Ukraine. It defines their place within the modern system of commercial and commercial-procedural legal relations and substantiates directions for improving national legislation in the field of self-regulation of professional activity in insolvency and bankruptcy procedures.
The study examines the genesis and evolution of self-regulatory institutions in Ukraine and selected foreign legal systems, including the United States, Canada, and European countries. It is established that self-regulation represents a key mechanism of delegating certain regulatory functions from the state to professional communities, ensuring a balance between public and private interests, improving the efficiency of economic regulation, and strengthening institutional capacity of markets.
It is argued that self-regulatory organizations of insolvency practitioners constitute a special institutional form combining elements of public and private law. They perform professional oversight, ethical regulation, and quality assurance functions regarding insolvency practitioners’ activities in bankruptcy proceedings. Their legal nature is defined as that of economic infrastructure entities endowed with delegated regulatory and supervisory powers.
The dissertation analyzes the economic, organizational, and doctrinal foundations of self-regulatory organizations, including conditions for their establishment, legal status of founders and members, and the scope of autonomy in interaction with public authorities. It is substantiated that the effectiveness of self-regulation depends on properly established mechanisms of state supervision, transparency of internal procedures, and the level of professional responsibility of participants.
Special attention is given to the legal status of insolvency practitioners as subjects of independent professional activity. The specificity of their role in bankruptcy procedures involving both legal entities and individuals is examined, as well as the complex combination of private-law and public-law elements in their professional functions. It is demonstrated that insolvency practitioners play a key role in balancing the interests of creditors, debtors, and the state.
The functional and legal nature of SROs of insolvency practitioners is analyzed as an institutional mechanism of professional control. It is established that such organizations ensure standardization of professional conduct, enhancement of professional ethics, and reduction of abuse risks in insolvency procedures.
The relationship between state regulation and self-regulation in the activity of insolvency practitioners is explored. It is argued that a mixed regulatory model is the most effective, as it combines the advantages of state oversight with the flexibility of professional self-governance. Excessive centralization of state influence is shown to reduce the efficiency of bankruptcy procedures, while full autonomy of SROs may lead to risks of corporatist closure.
Foreign experience in the functioning of self-regulatory institutions in bankruptcy and financial services is analyzed, allowing identification of best practices in licensing, disciplinary liability, and professional oversight. It is found that in developed legal systems self-regulation is an important element of state deregulation policy.
The dissertation proposes conceptual approaches to improving Ukrainian legislation concerning the legal status of SROs of insolvency practitioners, including clear definition of their organizational and legal form, competence, establishment procedures, and mechanisms of interaction with state authorities. The necessity of enshrining principles of transparency, accountability, and professional autonomy is substantiated.
Issues of balancing private and public interests in the activities of insolvency practitioners and their self-regulatory organizations are examined. Legal mechanisms for preventing conflicts of interest and ensuring independence of professional activity are identified.
Special emphasis is placed on reform directions for Ukraine’s insolvency system in the context of European integration, legislative harmonization, and implementation of modern standards of corporate governance and financial transparency.
In conclusion, the development of self-regulatory organizations of insolvency practitioners is identified as a crucial component of modernizing Ukraine’s economic and legal system, improving insolvency procedures, and ensuring stability of economic turnover.
