The National Bank of Ukraine updated the approach to authorization procedures of non-bank financial institutions. About this reported press office of the regulator.
“This was done to prevent the influence of the aggressor state on the financial market of Ukraine and to expand the list of types of activities that payment institutions have the right to combine with the activities of providing financial payment services”, – stated in the message.
The changes provide for the expansion of the list of signs of an impeccable business reputation of individuals and legal entities in order to prevent the possible influence of the aggressor state on the financial market. It also establishes the obligation for financial service providers to check managers, chief accountants, key persons and owners of significant participation for compliance with the requirements for business reputation, taking into account the new rules.
In addition, payment institutions that have the right to open, maintain and close payment accounts are allowed to provide qualified electronic trust services in accordance with the current legislation in the field of electronic trust services. The update also includes clarification of the allocation of powers of the National Bank’s committees and improvement of other authorization requirements.
The corresponding changes are fixed by the resolution of the board of the NBU No. 31 of March 14, which will enter into force on March 18, 2025.
