Legal narratives of harmonization of terminology in the field of collective investment: comparative analysis of Ukrainian legislation and European Union law

In the article, the authors consider the main aspects of harmonizing Ukrainian legislation in the field of collective investment with European Union law, taking into account the application of Directive 2009/65/EU (UCITS) and Directive 2011/61/EU (AIFMD). The authors pay special attention to the issue of terminological (in)conformity, since the difference in the interpretation of key concepts may complicate (primarily delay) the implementation of European norms in the field of collective investment in the national legal system. Today, the issue of legal regulation in the field of joint investment is gaining new significance and is becoming an object of scientific interest for researchers worldwide; however, Ukrainian scholars' research into the legal nature of investment-oriented relations is fragmentary and sporadic. In 2025, the current period of investment-oriented relations is foreseen by a significant reduction in the volume of state funding and a transition to the intensive attraction of investment funds from individuals and legal entities. In the article, the authors considered the main approaches to the translation and adaptation of terminology used in EU regulations. The article substantiates that (already at the stage of the announced start of negotiations on accession to the EU and the gradual implementation of the acquis communautaire) it is important for Ukraine not only to harmonize terminology and conduct a linguistic examination of the current legislation, but also to ensure the compliance of legal mechanisms with European-wide standards for regulating collective investment. As a result, conclusions were drawn about the need for gradual improvement of terminological (linguistic and legal) harmonization of national legislation in the field of joint investment, in particular through the unification of translations and adaptation of regulatory legal acts to European standards. Key words: legislative harmonization, collective investment undertakings, public undertakings, freedom of movement of capital, European Union law, regulations, directives.