Unofficial translation (c) Soyuzpravoinform LLC

RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of September 22, 2022 No. 206

About approval of the Regulations on application of corrective actions by the National Bank of Ukraine for violation of requirements of the legislation regulating activities in the payment market

According to Articles 7, of 15, of 17, 55-1, 56 of the Law of Ukraine "About the National Bank of Ukraine", article 41-1 of the Law of Ukraine "About financial services and state regulation of the markets of financial services", to Articles 11, of 25, 76 - 78, 81, 84 Laws of Ukraine "About payment services", for the purpose of determination of procedure and criteria of application of corrective actions in the sphere of state regulation of activities in the payment market the Board of the National Bank of Ukraine DECIDES:

1. Approve Regulations on application of corrective actions by the National Bank of Ukraine for violation of requirements of the legislation regulating activities in the payment market (further - the Provision) which is applied.

2. Requirements of the Provision from the date of entry into force of this resolution extend to non-bank financial institutions, operators of mail service which have the license for money transfer in national currency without opening of accounts granted by the National Bank of Ukraine about day of enforcement of the Law of Ukraine "About payment services", non-bank payment service providers (except suppliers of non-financial payment services), suppliers of limited payment services in case of violation by them of the legislation regulating activities in the payment market.

3. To department of methodology of regulation of activities of non-bank financial institutions (Sergey Savchuk) after official publication to inform non-bank payment service providers information on adoption of this resolution.

4. 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 September 22, 2022 No. 206

Regulations on application of corrective actions by the National Bank of Ukraine for violation of requirements of the legislation regulating activities in the payment market

I. General provisions

1. This Provision is developed according to the Laws of Ukraine "About the National Bank of Ukraine", "About financial services and finance companies" (further - the Financial services act), "About payment services", "About ministerial procedure" (further - the Administrative procedure act), "About advertizing" (further - the Law on advertizing), other legal acts of Ukraine and regulatory legal acts of the National Bank of Ukraine (further - National Bank).

2. Terms in this Provision are used in such values:

1) the document in which violations are fixed, - the document constituted by results of implementation by National Bank of check, permanent supervision of activities of objects of supervision concerning observance by them of the legislation regulating activities in the payment market including regulatory legal acts of National Bank concerning registration and licensing of suppliers of financial and limited payment services and requirements to their structure to property/hearing of cases about violation of the law about consumer protection of payment services, supervision of observance by suppliers of payment and limited payment services of the consumer protection law including control of compliance with law about advertizing in the payment market;

2) the single address of object of permanent supervision - the e-mail address of object of permanent supervision for implementation of official communication with National Bank provided to National Bank according to the regulatory legal acts of National Bank determining procedure of activities of authorization of suppliers of financial payment services and limited payment services, licensing and registration of suppliers of financial services and condition of implementation by them of activities for provision of financial services (further - the e-mail address);

3) the non-bank supplier of financial payment services - payment organizations (small payment organizations), branches of foreign payment organizations / organizations of electronic money (further - branches of foreign payment organizations), organizations of electronic money, financial institutions which have the right to provision of payment services, operators of mail service;

The plan died 4) on violation elimination - the document which is constituted by non-bank suppliers of financial payment services or suppliers of limited payment services and contains terms of accomplishment and the list of measures which such supplier for elimination of violations and/or elimination of the reasons which led to making of violations of the law of Ukraine shall accept;

5) the continuing violation - violation in case of which the non-bank supplier of financial payment services or the supplier of limited payment services after making of violation does not stop to perform it;

6) authorized officer of National Bank - The chairman of National Bank, vice-chairmen of National Bank, heads of structural divisions of National Bank to whose functions implementation of supervision of activities in the payment market belongs (further - structural divisions of supervision), the head of the structural unit of National Bank to which functions implementation of licensing and/or registration of legal entities and branches of foreign payment organizations in the territory of Ukraine which intend to perform activities for provision of all or separate payment services or limited payment services (further - structural division on licensing), the head of the structural unit of National Bank belongs, to which functions supervision of compliance with law of Ukraine about consumer protection of payment services and about advertizing in the sphere of payment services (further - structural division on consumer protection), deputy managers of structural divisions on supervision, the deputy manager of structural division on licensing, the deputy manager of structural division on consumer protection, heads of managements as a part of structural divisions on supervision, heads of managements, departments as a part of structural divisions of licensing or persons fulfilling them duties belongs.

The term "further violation" is used in the value given in Item 7 parts eight of article 11 of the Law of Ukraine "About payment services".

The term "the legislation regulating activities in the payment market" is used in the value given in article 2 of the Law of Ukraine "About payment services".

The term "administrative production" is used in this Provision in the value given in the Administrative procedure act.

Other terms used in this Provision are used in the values determined in the Law of Ukraine "About the National Bank of Ukraine", the Financial services act, the Law of Ukraine "About payment services", the Administrative procedure act, the Law on advertizing and other regulatory legal acts.

3. This Provision determines procedure and criteria of application by National Bank of measures of influence in the sphere of state regulation of the payment market in case of violation by non-bank suppliers of financial payment services and suppliers of limited payment services (further - object of supervision) requirements of the legislation regulating activities in the payment market, requirements, decisions and/or orders of National Bank and/or in case of insufficiency of the measures for risk management taken for protection of consumer interests of payment services and also procedure for application of corrective action in the form of imposing of penalty for violation by object of supervision of the consumer protection law in case of provision of services in the payment market determined by part seven of article 84 of the Law of Ukraine "About payment services", part two of Article 28 of the Financial services act, part five of article 24 of the Law on advertizing (further - corrective actions).

4. Requirements of this provision do not extend on:

1) the legal relationship connected with production on cases on administrative offenses and imposing of administrative punishments on officials of non-bank payment service providers and suppliers of limited payment services;

2) the legal relationship connected using National Bank of corrective actions for violations by object of oversight of requirements of the legislation regulating functioning of payment systems, use of payment schemes, transactions with payment instruments, electronic and digital money;

3) the legal relationship connected using National Bank of corrective actions for violation of the laws and other regulatory legal acts regulating activities in the payment market of banks;

4) the legal relationship connected with observance of requirements of the legislation regulating activities in the payment market by payment service providers behind whose activities the National Bank according to the Law of Ukraine "About payment services" does not exercise supervision.

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