RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of July 28, 2020 No. 106

About approval of the Regulations on application of corrective actions by the National Bank of Ukraine to organizations for violation of the law concerning financial monitoring

According to Articles 7, of 15, 56 Laws of Ukraine "About the National Bank of Ukraine", to Articles 4, 18 Laws of Ukraine "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", for the purpose of determination of procedure for application by the National Bank of Ukraine of the income provided by the Law of Ukraine "About prevention and counteraction of legalization (washing) gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction" corrective actions presentations of requirements for violations of the legislation by organizations concerning financial monitoring, and also control of their accomplishment the Board of the National Bank of Ukraine DECIDES:

1. Approve Regulations on application of corrective actions by the National Bank of Ukraine to organizations for violation of the law concerning financial monitoring which is applied.

2. Recognize invalid:

1) the resolution of Board of the National Bank of Ukraine of May 12, 2015 No. 316 "About application of sanctions against non-bank financial institutions";

2) the resolution of Board of the National Bank of Ukraine of January 2, 2019 No. 11 "About modification of the Regulations on application by the National Bank of Ukraine of sanctions for violation of the law concerning 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".

3. (Igor Bereza) to provide to department of financial monitoring placement of this resolution on pages of official Internet representative office of the National Bank of Ukraine.

4. To impose control over the implementation of this resolution on the First Deputy Chairman of the National Bank of Ukraine Ekaterina Rozhkova.

5. The resolution becomes effective from the date of, its official publication following behind day.

Approved by the Resolution of Board of the National Bank of Ukraine of July 28, 2020 No. 106

Regulations on application of corrective actions by the National Bank of Ukraine to organizations for violation of the law concerning financial monitoring

I. General provisions

1. This Provision is developed according to requirements of the Laws of Ukraine "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" (further - the Law), "About the National Bank of Ukraine" and other legal acts of Ukraine.

Requirements of this provision extend to insurers (overcautious persons), insurance (reinsurance) brokers, credit unions, pawnshops, other financial institutions, registration or licensing of which the National Bank of Ukraine (further - National Bank) performs, the operators of mail service providing financial payment services and/or services of postal order, and/or service in implementation of currency transactions, operators of payment systems, branch or representative office of the foreign business entities providing financial services in the territory of Ukraine, other legal entities who on the legal status are not financial institutions, but provide separate financial services (further - organization).

2. This Provision determines procedure:

1) applications by National Bank to organizations of the corrective actions provided in article 32 of the Law (further - corrective actions);

2) presentations by National Bank according to article 18 of the Law of requirements concerning execution of the legislation by organization 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 (further - the legislation in the sphere of prevention and counteraction) (further - the written requirement);

3) implementation by National Bank of control over the implementation by organizations of decisions on application of corrective actions, written requirements.

3. The term" the authorized officer of National Bank" in this Provision is used in such value - the official of National Bank having right to sign of documents on behalf of National Bank according to the legislation of Ukraine or regulatory legal acts of National Bank, or administrative acts of National Bank or the power of attorney.

Other terms used in this Provision get on in the values determined in the Law, other legal acts of Ukraine and regulatory legal acts of National Bank.

4. The decision on application to organizations of corrective actions (further - the Decision) makes Board of National Bank (further - Board) or the collegiate organ created according to article 15 of the Law of Ukraine "About the National Bank of Ukraine" and to which the Board delegates separate powers on regulation and supervision (further - Committee).

5. Sending to organization of copies of the Decision and the original of the written requirement (or their verified copies) is performed according to the procedure, established by this Provision.

6. The National Bank for violation (failure to carry out / inadequate accomplishment) organizations of requirements of the Law and/or the regulatory legal acts of National Bank regulating activities (implementation of cumulative or separate actions) in the sphere of prevention and counteraction (further - regulatory legal acts) which were established by results of checks (exit check, permanent supervision concerning financial monitoring) / control of accomplishment of Decisions / written requirements of National Bank, in the procedure established by this Provision applies to organizations within six months from the date of identification by National Bank, but no later than in three years from the date of violation making, such corrective actions:

1) written caution;

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