PRESIDENTIAL DECREE OF UKRAINE

of November 23, 2011 No. 1070/2011

About the National commission performing state regulation in the sphere of the markets of financial services

In pursuance of the Law of Ukraine "About financial services and state regulation of the markets of financial services" I decide:

1. Form the National commission performing state regulation in the sphere of the markets of financial services.

2. Approve Regulations on the National commission performing state regulation in the sphere of the markets of financial services it (is applied).

3. Approve the extreme number of employees of the National commission performing state regulation in the sphere of the markets of financial services in number of 293 established posts.

4. This Decree becomes effective from the date of its publication.

Approved by the Presidential decree of Ukraine of November 23, 2011 No. 1070/2011

Regulations on the National commission performing state regulation in the sphere of the markets of financial services

1. The national commission performing state regulation in the sphere of the markets of financial services (Natskomfinuslug) is the state collegiate organ subordinated to the President of Ukraine accountable to the Verkhovna Rada of Ukraine.

Natskomfinuslug performs state regulation of the markets of financial services in the limits determined by the legislation.

2. Natskomfinuslug in the activities is guided by the Constitution and the laws of Ukraine, acts and orders of the President of Ukraine, acts of the Cabinet of Ministers of Ukraine, other acts of the legislation.

3. The main objectives of Natskomfinuslug are:

1) forming and ensuring realization of policy of state regulation in the sphere of the markets of financial services (except the market of banking services and the security markets and derivative securities);

2) development and strategy implementation of market development of financial services and solution of system questions of their functioning;

3) ensuring development and coordination of single state policy concerning functioning of accumulative system of pension insurance;

4) implementation within the powers of state regulation and supervision of provision of financial services and compliance with law in the respective sphere;

5) consumer protection of financial services by application within the powers of corrective actions for the purpose of prevention and the termination of violations of the law in the market of financial services;

6) generalization of practice of application of the legislation of Ukraine concerning financial services and the markets and development of offers concerning their enhancement;

7) development and approval of regulatory legal acts, obligatory for accomplishment, on the questions which are within its competence;

8) coordination of activities with other state bodies;

9) implementation of internationally acknowledged rules of market development of financial services.

4. Natskomfinuslug according to the tasks assigned to it:

1) is analyzed by condition and tendencies of market development of financial services, develops offers concerning forming of state policy in the sphere of financial services;

2) generalizes practice of application of the legislation on the questions which are within its competence develops offers concerning enhancement of legal acts, acts of the President of Ukraine, the Cabinet of Ministers of Ukraine, and in accordance with the established procedure submits them for consideration to the President of Ukraine and the Cabinet of Ministers of Ukraine;

3) is performed by monitoring of capital movement to Ukraine and out of its limits through the markets of financial services;

4) is performed according to the legislation by state regulation and supervision of activities of financial institutions (except banks, professional participants of the stock market, institutes of joint investment, the financial institutions having the status of the intergovernmental international organizations, the Public treasurer service of Ukraine and the state trust funds);

5) exercises supervision on the consolidated basis on non-bank financial groups in which prevailing activities are performed by financial institutions, supervision of which is exercised by Natskomfinuslug;

6) exercises state regulation and control of activities of bureau of credit histories;

7) provides conclusions about reference of transactions to certain type of financial services;

8) performs registration of financial institutions and self-regulating organizations of participants of the markets of financial services;

Conducts 9):

State register of financial institutions;

in the cases determined by it registers of persons which are not financial institutions, but having the right to provide separate financial services;

Unified register of bureau of credit histories;

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