The National Bank has started a public discussion of new rules for depository and clearing activities
National Bank of Ukraine started public discussion amendments to the main document regulating depository and clearing activities in the field of securities. It is about updating the rules of interaction of the Ukrainian depository with foreign partners, taking into account international sanctions and the need to meet global standards of the financial market.
The new proposals are aimed at improving the cooperation procedures of the NBU depository with foreign depositories, especially in the area of compliance with the sanctions legislation of various countries. The regulator also strives to harmonize the depository system with international oversight standards regarding financial market infrastructure, which is of key importance for the further integration of Ukraine into the global financial system.
For familiarization, the NBU has published three documents: a draft of changes, a comparative table with the current version of the regulation, and an analysis of the impact of innovations. The public can send comments and suggestions until September 12 inclusive through a special form on the regulator’s website.
At the same time, the National Bank introduced restrictions for financial companies on economic activities not related to the provision of financial services: now the share of such income cannot exceed 20% of the total volume.
The purpose of the innovation is to strengthen the stability of the non-banking financial market, which corresponds to the regulatory powers of the National Bank in this sector. In addition, the resolution improves the mechanisms for checking the property status of owners of significant participation in non-banking financial institutions.
