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 and other financial institutions (except financial institutions and other legal entities concerning whom state regulation and supervision in the sphere of prevention and counteraction are performed by other subjects of the state financial monitoring); payment institutes, participants or members of payment service providers which provide financial services based on the corresponding licenses or registration documents; operators of mail service; other organizations which render services in money transfer and implementation of currency transactions; branches or representative offices of foreign business entities which provide 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 the National Bank of Ukraine (further - 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. Terms in this Provision are used in the values determined by the Law, other legal acts of Ukraine, 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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