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RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of June 16, 2021 No. 52

About approval of the Regulations on implementation by the National Bank of Ukraine of supervision of observance by participants of the market of financial services of the consumer protection law of financial services

According to Articles 7, of 15, 56 Laws of Ukraine "About the National Bank of Ukraine", to Articles 11, of 12, 19 - 21 Laws of Ukraine "About financial services and state regulation of the markets of financial services", for the purpose of implementation of supervision of observance by participants of the market of financial services of Ukraine in the markets of non-bank financial services which state regulation is performed by the National Bank of Ukraine of requirements of the consumer protection law of financial services and control of compliance with law about advertizing in the sphere of financial services, except the stock market, the Board of the National Bank of Ukraine DECIDES:

1. Approve Regulations on implementation by the National Bank of Ukraine of supervision of observance by participants of the market of financial services of the consumer protection law of financial services which are applied.

2. Bring in the Regulations on implementation of permanent supervision by the National Bank of Ukraine in the markets of non-bank financial services approved by the resolution of Board of the National Bank of Ukraine of December 28, 2020 No. 169, the following changes:

1) in the Section I:

add Item 1 with the new paragraph of the following content:

"This Provision is not applied to implementation of permanent supervision of compliance with law about consumer protection of financial services, including requirements for interaction with consumers in case of settlement of overdue debt (requirements of rather ethical behavior). Implementation of permanent supervision of compliance with law about consumer protection of financial services, including requirements for interaction with consumers in case of settlement of overdue debt (requirements of rather ethical behavior) are regulated by separate regulatory legal acts of National Bank.";

to state the subitem 1 of Item 2 in the following edition:

"1) permanent supervision - form of implementation by National Bank of supervision of observance by objects of permanent supervision of requirements of the laws of Ukraine and other regulatory legal acts regulating activities for provision of non-bank financial services (further - the regulatory legal acts regulating activities for provision of non-bank financial services), without their visit in the location;";

2) in Item 8 of the Section III of the word and figures", Item" to exclude 5 parts three of Article 21.

3. To management of consumer protection of financial services (Olga Lobaychuk) after official publication to inform participants of the market of financial services information on adoption of this resolution.

4. To impose control over the implementation of this resolution on the Chairman of National Bank Kirill Shevchenko.

5. The resolution becomes effective since July 14, 2021.

Chairman

K. Shevchenko

Approved by the Resolution of Board of the National Bank of Ukraine

Regulations on implementation by the National Bank of Ukraine of supervision of observance by participants of the market of financial services of the consumer protection law of financial services

I. General provisions

1. This Provision is developed according to the Laws of Ukraine "About the National Bank of Ukraine", "About financial services and state regulation of the market of financial services" (further - the Law on financial services), "About consumer crediting", "About advertizing", "About consumer protection", "About payment systems and money transfer in Ukraine", "About insurance", "About credit unions", the regulatory legal acts of the National Bank of Ukraine (further - National Bank) containing the regulations regulating consumer protection of financial services establish for participants of the market of non-bank financial services which state regulation is performed by National Bank, requirements and conditions on provision to consumers of financial services and/or requirements for advertizing of such services (except advertizing in the stock market), the legislation of Ukraine, containing regulations on consumer protection of financial services (further - the consumer protection law of financial services), for the purpose of implementation by National Bank of supervision of observance by participants of the market of non-bank financial services of requirements of the consumer protection law of financial services and control of observance by participants of the market of non-bank financial services of the legislation on advertizing in the sphere of financial services, except the stock market (further - supervision of compliance with law about consumer protection of financial services).

2. This Provision determines the bases and procedure National Bank of supervision of observance by the participant of the market of financial services of the consumer protection law of the financial services, except supervision of observance established by the legislation of requirements for interaction with consumers in case of settlement of overdue debt (requirements of rather ethical behavior) in the markets of non-bank financial services which state regulation is performed by National Bank, and registrations of results of such supervision.

Action of this provision does not extend to banks, persons performing activities for provision of intermediary services in the market of banking services, merging of the financial institutions included in the register of self-regulatory organizations and clients.

3. In this Provision terms are used in such value:

1) permanent supervision of compliance with law about consumer protection of financial services (further - permanent supervision) - form of implementation by National Bank of supervision of observance by participants of the market of financial services of the consumer protection law of financial services without their visit in the location;

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