THE ORDER OF THE NATIONAL COMMISSION PERFORMING STATE REGULATION IN THE SPHERE OF THE MARKETS OF FINANCIAL SERVICES OF UKRAINE

of July 27, 2017 No. 2864

About approval of Requirements to credit intermediaries and to their activities in the sphere of consumer crediting in the market of non-bank financial institutions

According to Item of 1 part one of article 28 of the Law of Ukraine "About financial services and state regulation of the markets of financial services", to Item "About consumer crediting" and for the purpose of streamlining of activities of credit intermediaries the National commission performing state regulation in the sphere of the markets of financial services decided 2 parts two of article 5 of the Law of Ukraine:

1. Approve Requirements to credit intermediaries and to their activities in the sphere of consumer crediting in the market of non-bank financial institutions (further - Requirements) which are applied.

2. Activities of persons performing intermediary services in the sphere of consumer crediting before entry into force of this order are subject to reduction in compliance with Requirements in six-months time from the date of entry into force of this order.

3. To provide to department of regulation and supervision of credit institutes submission of this order to the Ministry of Justice of Ukraine for state registration.

4. Organizational administrative to provide to department promulgation of this order after its state registration.

5. This order becomes effective from the date of its official publication.

6. Control over the implementation of this order to assign to Natskomfinuslug Zaletov A. N. members. and Maksimchuk A. V.

Approved by the Order of the National commission performing state regulation in the sphere of the markets of financial services of Ukraine of June 27, 2017 No. 2864

Requirements to credit intermediaries and to their activities in the sphere of consumer crediting in the market of non-bank financial institutions

I. General provisions

1. These Requirements are developed according to the Laws of Ukraine "About financial services and state regulation of the markets of financial services", "About consumer crediting", "About prevention and counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction" and Regulations on the National commission performing state regulation in the sphere of the markets of financial services, the approved Presidential decree of Ukraine of November 23, 2011 No. 1070.

2. These Requirements establish organization-legal bases of activities of credit intermediaries in the sphere of consumer crediting in the market of non-bank financial institutions.

3. Terms in these Requirements are used in the values determined in the Civil code of Ukraine, the Economic code of Ukraine, the Laws of Ukraine "About financial services and state regulation of the markets of financial services", "About consumer protection", "About consumer crediting", "About prevention and counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction", other laws and regulatory legal acts of Natskomfinuslug and Gosfinuslug.

II. Requirements to credit intermediaries

1. The head of the legal entity, workers of the legal entity who directly perform the activities specified in Item 1 of the Section III of these Requirements the physical person entrepreneur and physical person performing intermediary activities in the sphere of consumer crediting shall meet the following requirements:

1) to have the higher education on educational qualification level not below the bachelor;

2) to have at least three years of length of service in the sphere of financial services (it is applied only to heads of the legal entities having the status of the loan broker);

3) to be trained and pass examination for compliance of knowledge of the legislation in the sphere of consumer crediting according to the standard training program and advanced trainings of credit intermediaries (further - the program) approved by Natskomfinuslug. Duration of professional development course shall be at least 72 hours (it is not applied to workers of the legal entity performing intermediary activities in the sphere of consumer crediting except the head);

4) to be trained to the corresponding worker of the credit intermediary who is responsible for carrying out identification and verification of the client (consumer) in the sphere of prevention and counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction which is carried out at least once in 3 years based on the state educational institution which belongs to the sphere of management of Public service of financial monitoring of Ukraine.

2. Implementation of intermediary activities in the sphere of consumer crediting by person which is not allowed:

1) it is limited in capacity to act or acknowledged incapacitated by a court decision;

The criminal record for making of intentional crime has 2) if this criminal record is not extinguished and is not removed in the procedure established by the law, it is deprived of the right to hold certain positions and to be engaged in certain activities;

3) it is included in the list of faces tied with implementation of terrorist activities or concerning which the international sanctions in the procedure established by the legislation are applied.

3. The credit intermediaries who were trained according to the subitem 3 of Item 1 of this Section shall take each three years examination for compliance of knowledge of the legislation in the sphere of consumer crediting. For the purpose of preparation for passing an examination credit intermediaries can be trained according to the appropriate standard programs of advanced training.

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