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The document ceased to be valid since  March 12, 2022 according to Item 1 of the Decision of the National commission on securities and the stock market of Ukraine of December 30, 2021 No. 1293 

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Ministry of Justice of Ukraine

September 20, 2012

No. 1628/21940

DECISION OF THE NATIONAL COMMISSION ON SECURITIES AND STOCK MARKET OF UKRAINE

of July 19, 2012 No. 996

About approval of the Regulations on features of the organization and carrying out internal audit (control) in the financial institutions performing professional activity in the stock market

(as amended on 29-04-2014)

According to Item 13 of article 8 of the Law of Ukraine "About state regulation of the security market in Ukraine", articles 15-1 and 21 of the Law of Ukraine "About financial services and state regulation of the market of financial services" the National commission on securities and the stock market RESHILA:

1. Approve Regulations on features of the organization and carrying out internal audit (control) in the financial institutions performing professional activity in the stock market.

2. To provide to department of control and legal work (O. Misyur):

submission of this decision on implementation of examination on compliance of the Convention on human rights protection and fundamental freedoms in the Secretariat of the Government representative for cases of the European Court of Human Rights of the Ministry of Justice of Ukraine;

submission of this decision on state registration in the Ministry of Justice of Ukraine.

3. (Yu. Zhuly) to provide to department of external and internal communications publication of this decision according to requirements of the legislation.

4. This decision becomes effective from the date of its official publication.

5. To professional participants of the security market to bring the activities into accord with requirements of the Regulations on features of the organization and carrying out internal audit (control) in professional participants of the stock market approved by this decision within three months after entry into force of this decision.

6. Control over the implementation of this decision to assign to the member of the commission E. Voropayev.

Commission chairman

D. Tevelev

 

Approved by the Decision of the National commission on securities and the stock market of July 19, 2012 No. 996

Regulations on features of the organization and carrying out internal audit (control) in professional participants of the stock market

I. General provisions

1. This Provision is developed according to the Laws of Ukraine "About state regulation of the security market in Ukraine", "About securities and the stock market", "About financial services and state regulation of the markets of financial services", "About prevention and counteraction of legalization (washing) of income gained in the criminal way or to terrorism financing".

This Provision establishes features of the organization and carrying out internal audit (control) in the financial institutions performing professional activity in the stock market.

This Provision extends to professional participants of the stock market (except banks) and Central Securities Depository (further - professional participants).

2. In this Provision terms are used in the following values:

adequacy of internal control system - control system compliance to specific specific conditions and the individual principle taking into account plans and positions of certain heads and their personal qualities which are necessary for increase in effectiveness and efficiency of actions;

assets of the professional participant - the societies which are saved up during activities resources which in the future bring economic benefit and promote profit earning;

the conclusion - the document which is constituted by results of conducting check of activities of the professional participant by service of internal audit (control);

the report - the document which is constituted by results of the carried-out work in year and contains information on results of activities of service of internal audit (control).

The term "official of the professional participant of the stock market" is used in the value determined by the Law of Ukraine "About securities and the stock market".

II. Organizational structure and requirements to service of internal audit (control)

1. The service of internal audit (control) of the professional participant is created by the supreme body of management or the supervisory board by education as a part of the professional participant of structural division or determination of the certain official for carrying out internal audit (control).

The service of internal audit (control) of the professional participant submits to the supervisory board and if by the legislation compulsory education of the supervisory board - to the supreme body of management of the professional participant is not required, and reports to them.

The structural division of service of internal audit (control) organizationally does not depend on other divisions of the professional participant.

2. Activities of service of internal audit (control) are performed based on regulations on service of internal audit (control) of the professional participant which are developed by the professional participant.

3. The regulations on service of internal audit (control) of the professional participant affirm the solution of the supervisory board and if by the legislation compulsory education of the supervisory board - the supreme body of management of the professional participant is not required.

The regulations on service of internal audit (control) shall contain, in particular:

purposes and principles of activities of service of internal audit (control);

status, main objectives of service of internal audit (control);

rights and obligations of service of internal audit (control);

procedure for conducting checks of activities of the professional participant and registration of results of check;

coordination of activities of service of internal audit (control) with other activities of the professional participant.

4. The official of service of internal audit (control) (except Central Securities Depository) is determined from among officials of the professional participant of the stock market.

The structural division of service of internal audit (control) is formed in number of at least two workers of the professional participant whose of structure the head is appointed.

5. The nominated person which cannot be the employee of structural division, the official of service of internal audit (control) of the professional participant:

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