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

of September 4, 2018 No. 1521

About modification of the Procedure for creation of reporting these insurers

According to Item 18 parts one of article 28 of the Law of Ukraine "About financial services and state regulation of the markets of financial services", article 33 of the Law of Ukraine "About insurance", to the subitem 27 of item 4 of the Regulations on the National commission performing state regulation in the field of the markets of financial services, No. approved by the Presidential decree of Ukraine of November 23, 2011 1070, and also for the purpose of reduction of the regulatory legal act in compliance with the Law of Ukraine "About financial records audit and auditor activities" the National commission performing state regulation in the field of the markets of financial services DECIDED:

1. Make changes to the Procedure for creation of reporting these insurers approved by the order of State commission on regulation of the markets of financial services of Ukraine of February 3, 2004 No. 39, registered in the Ministry of Justice of Ukraine on April 23, 2004 for No. 517/9116 (in edition of the order of State commission on regulation of the markets of financial services of Ukraine of September 15, 2005 No. 4619), having been reworded as follows it which is applied.

2. This order becomes effective from the date of entry into force of the Law of Ukraine "About electronic confidential services", but not earlier than day of official publication of this order.

3. In the markets of financial services together with department of legal providing to submit to department of state regulation and methodology this order to the Ministry of Justice of Ukraine for state registration.

4. And members of the commission to provide to management of ensuring activities of the Chairman publication of this order after its state registration.

5. Control over the implementation of this order to assign to the member Natskomfinuslug Zaletov E. M.

Approved by the Order of State commission on regulation of the markets of financial services of Ukraine of February 3, 2004 , No. 39

(in edition of the Order of the National commission performing state regulation in the field of the markets of financial services of Ukraine of September 4, 2018 No. 1521)

Procedure for creation of reporting these insurers

І. General provisions

1. This Procedure is developed according to article 28 of the Law of Ukraine "About financial services and state regulation of the markets of financial services", to Articles 33, 34 Laws of Ukraine "About insurance", article 14 of the Law of Ukraine "About financial accounting and the financial reporting in Ukraine" and to the subitem 27 of item 4 of the Regulations on the National commission performing state regulation in the field of the markets of financial services, No. 1070 approved by the Presidential decree of Ukraine of November 23, 2011.

2. This Procedure determines the procedure of creation, terms of submission to Natskomfinuslug, reporting data concerning implementation of insurance activity and disclosure of the other information concerning financial condition of the insurer, in particular on sufficiency of insurance bonds.

3. In this Procedure terms are used in such values:

the actuary - person who received the certificate on compliance to qualification requirements to persons who can be engaged in actuarial calculations, issued according to the procedure, established by Qualification requirements to persons who can be engaged in the actuarial calculations approved by the order of State commission on regulation of the markets of financial services of Ukraine of February 08, 2005 No. 3519, No. 265/10545 registered in the Ministry of Justice of Ukraine on February 24, 2005;

reliable reporting data of the insurer - the reporting of the insurer constituted based on accounting data for the corresponding period and containing activities indicators which do not contradict each other and are comparable;

reporting date - date for which reporting data are constituted;

reporting data of the insurer - the reporting of the insurer (other, than financial and consolidated financial statements) constituted based on accounting data for the corresponding period, containing activities indicators is also submitted in form and in amount, the determined this Procedure;

the reporting of the insurer - the financial reporting, consolidated financial statements (if the insurer according to the legislation constitutes consolidated financial statements) and reporting data of the insurer;

the adjusting report - the reporting of the insurer marked "adjusting" which is the basis for replacement of information of the corresponding form which was given previously to Natskomfinuslug;

the actuarial report - the standardized disclosure form of information on sufficiency of acknowledged insurance bonds established by Natskomfinuslug for implementation of future insurance payments and/or payments of the redemption amounts for the signed insurance contracts and the expenses connected with execution of such agreements contains recommendations of need of doformirovaniye of insurance reserves for ensuring adequacy of obligations of the insurer, constituted by the actuary in accordance with the established procedure by results of the carried-out actuarial calculations.

II. Procedure for creation of forms of the reporting of data of the insurer

1. The financial reporting according to requirements of the Law of Ukraine "About financial accounting and the financial reporting in Ukraine" and reporting data of the insurer are constituted and move in Natskomfinuslug electronically in document type, provided by this Procedure, with use of the web interface of access to the specialized software which is posted on the official website of Natskomfinuslug.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info