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RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of December 2, 2021 No. 128

About approval of the Regulations on procedure for supervision on the consolidated basis of non-bank financial groups

According to Articles 7, 15, 55-1, 56 to the Law of Ukraine "About the National Bank of Ukraine", to Articles 16-1, 22, 28, 29 Laws of Ukraine "About financial services and state regulation of the markets of financial services", in pursuance of the Law of Ukraine of September 12, 2019 No. 79-IX "About modification of some legal acts of Ukraine concerning enhancement of functions on state regulation of the markets of financial services", for the purpose of settlement procedure for supervision on the consolidated basis of the non-bank Board of the National Bank of Ukraine DECIDES: financial groups

1. Approve Regulations on procedure for supervision on the consolidated basis of non-bank financial groups (further - the Provision) which are applied.

2. To the non-bank financial groups recognized by the National commission performing state regulation in the sphere of the markets of financial services, the National Bank of Ukraine to bring the activities into accord with the requirements established by the Provision till January 1, 2022.

3. No. 83 "About ensuring implementation of powers and accomplishment of functions on state regulation and supervision in the sphere of the markets of financial services in questions of licensing and registration" to exclude Item 20 of appendix to the resolution of Board of the National Bank of Ukraine of June 25, 2020.

4. Recognize invalid:

1) the order of the National commission performing state regulation in the sphere of the markets of financial services of November 12, 2015 No. 2724 "About approval of the Regulations on procedure for supervision on the consolidated basis of non-bank financial groups in which preferential activities are performed by financial institutions, supervision of which is exercised by the National commission performing the state regulation in the sphere of the markets of financial services" registered in the Ministry of Justice of Ukraine on December 04, 2015 for No. 1511/27956;

2) the order of the National commission performing state regulation in the sphere of the markets of financial services of March 29, 2018 No. 458 "About approval of Changes in Regulations on procedure for supervision on the consolidated basis of non-bank financial groups in which preferential activities are performed by financial institutions, supervision of which is exercised by the National commission performing the state regulation in the sphere of the markets of financial services" registered in the Ministry of Justice of Ukraine on April 27, 2018 for No. 524/31976.

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

Acting as Chairman

Yu.Gelety

Approved by the Resolution of Board of the National Bank of Ukraine of November 2, 2021 No. 128

Regulations on procedure for supervision on the consolidated basis of non-bank financial groups

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 markets of financial services" (further - the Financial services act), regulatory legal acts of the National Bank of Ukraine (further - National Bank) concerning determination of conditions of implementation of activities for provision of financial services which implementation requires the corresponding license (licensed conditions), requirements to structure of property of suppliers of financial services taking into account the commonly accepted principles in the international practice and standards of supervision on the consolidated basis.

2. This Provision establishes:

1) procedure for identification of non-bank financial group in which preferential activities are performed by financial institutions, supervision of which is exercised by National Bank (further - non-bank financial group), the controller of non-bank financial group (further - the controller) / National Bank;

2) procedure for recognition by National Bank of non-bank financial group;

3) criteria of determination of subgroups within non-bank financial group;

4) requirements about provision by the controller in cases, stipulated by the legislation Ukraine, information to National Bank for the purpose of implementation of supervision on the consolidated and subconsolidated basis;

5) requirements to the responsible person of non-bank financial group (further - the responsible person) and procedure for its coordination by National Bank;

6) the notification procedure about changes of structure of property of non-bank financial group and types of activity of her participants;

7) procedure for derecognition National Bank of non-bank financial group;

8) requirements for sufficiency of the regulatory capital of non-bank financial group and provision of information on intra group transactions;

9) features of creation of the consolidated and subconsolidated statements, provision of necessary information by non-bank financial group for the purpose of implementation of supervision on the consolidated and subconsolidated basis.

3. Terms in this Provision are used in such value:

1) intra group transactions - transactions between members of one non-bank financial group (maternal and affiliated organizations - members of non-bank financial group and/or between members of one non-bank financial group who are not connected among themselves by the control relations);

2) date of recognition - acceptance date authorized collegiate organ of National Bank of the decision on recognition of non-bank financial group;

3) the date of receipt of control - the date of receipt of opportunity to perform decisive influence on management and/or activities of legal entities - members of non-bank financial group or person controlling the member of non-bank financial group by direct and/or the mediated ownership of one person independently or together with other persons of shares which corresponds to equivalent of 50 or more percent of the authorized capital and/or voices of the legal entity, or irrespective of formal ownership to perform such influence on the basis of the agreement or any other image;

4) date of creation - date with which the group of legal entities begins to correspond to determination of the term "non-bank financial group" which is provided in the Financial services act;

5) foreign non-bank financial group - non-bank financial group which is part of the international non-bank financial group and which is subject to supervision on the consolidated basis from National Bank;

6) country of source - country of incorporation of organization - the member of the international non-bank financial group which supervisory authority exercises supervision on the consolidated basis of such participant;

7) the international non-bank financial group - group of the financial institutions connected by the control relations which activities are provided more than in one country and which is subject to supervision on the consolidated basis from foreign supervision body;

8) national non-bank financial group - non-bank financial group which is subject to supervision on the consolidated basis from National Bank and is not part of the international non-bank financial group;

9) the faces tied with non-bank financial group - the connected persons of financial institutions - members of non-bank financial group according to the Financial services act;

10) concentration risk - the probability of incurring of losses arising owing to uneven accumulation of assets, obligations, transactions with partners as investments, industry risks, other risks or their combination;

11) structure of property of non-bank financial group - system of relations of legal entities and physical persons which gives the chance to determine all members of non-bank financial group who have the general controller;

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