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

of March 26, 2013 No. 431

About approval of the Regulations on the consolidated supervision of activities of non-bank financial groups in which preferential activities are performed by financial institutions, supervision of which is exercised by the National commission on securities and the stock market,

According to Item 13 of article 8 of the Law of Ukraine "About state regulation of the security market in Ukraine", article 16-1 of the Law of Ukraine "About financial services and state regulation of the markets of financial services" the National commission on securities and the stock market RESHILA:

1. Approve Regulations on the consolidated supervision of activities of non-bank financial groups in which preferential activities are performed by person who obtained the license for conducting professional activity in the stock market who is applied.

2. Consider invalid:

the decision of the National commission on securities and the stock market of February 07, 2012 No. 236 "About establishment of procedure for determination of subgroup within non-bank financial group", registered in the Ministry of Justice of Ukraine on February 24, 2012 for No. 312/20625;

3. To provide to department of joint investment and regulation of activities of institution investors (O. Simonenko) submission of this decision on state registration in the Ministry of Justice of Ukraine.

4. To provide to management of information technologies, external and internal communications (A. Zaik) publication of this decision according to the legislation of Ukraine.

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

6. Control over the implementation of this decision to assign to the member of the National commission on securities and the stock market K. Krivenko.

Approved by the Decision of the National commission on securities and the stock market of Ukraine of March 26, 2013 No. 431

Regulations on the consolidated supervision of activities of non-bank financial groups in which preferential activities are performed by person who obtained the license for conducting professional activity in the stock market

I. General provisions

1. This Provision establishes procedure for identification by the National commission on securities and the stock market (further - the Commission) non-bank financial groups in which preferential activities are performed by financial institutions, supervision of which is exercised by the Commission (further - non-bank financial group), recognitions of non-bank financial groups by the Commission, coordination by the Commission of the responsible person of non-bank financial group, derecognition of non-bank financial group, and also the requirement for regulation of activities of non-bank financial groups, activities risk minimizations, both their certain participants, and risks of groups, procedure for receipt of the consolidated statements of such groups.

2. Requirements of this provision extend to non-bank financial groups, controllers of non-bank financial groups and members of non-bank financial groups.

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

the consolidated balance of non-bank financial group - composite balance sheet of all members of non-bank financial group which also includes Articles of the off-balance reporting of each of participants of such group;

the standard rate of the size of the regulatory capital of non-bank financial group - the amount of the minimum sizes regulating or authorized (if the requirement about need of observance of the standard rate of the size of the regulatory capital for the member of non-bank financial group is not established by the legislation) the capitals of all members of non-bank financial group (for corporate investment funds in calculation share par value of the relevant corporate investment fund, being in circulation for settlement date is considered);

preferential activities in non-bank financial group - activities of the participant of group whose arithmetic-mean value of assets for the last four reporting quarters makes 50 and more percent of the cumulative extent of arithmetic-mean values of assets of all non-bank financial institutions which enter into this group, for this period;

the regulatory capital of non-bank financial group - the amount of the regulatory capitals of all members of non-bank financial group for legal entities of such group, requirements of the legislation for whom determine need of observance of requirements of the regulatory capital, and the authorized capital of legal entities of non-bank financial group, by requirements of the legislation for which need of observance of requirements of the regulatory capital is not determined, reduced by the amount of investments of members of non-bank financial group of the capital of other participants of such group, the amount of mutual receivables and the amount of debt securities of participants of group, if when calculating the regulatory capital of the member of non-bank financial group its size did not decrease by the amount of such investments (for corporate investment funds in calculation net assets value of the relevant corporate investment fund for settlement date undertakes);

creation of financial subgroup within non-bank financial group (further - creation of subgroup) - the consolidation of legal entities created for implementation of joint investment projects if the amount of assets of non-bank financial institutions which will be part of subgroup will constitute at least 20 percent of the cumulative size of assets of all non-bank financial institutions which are included into non-bank financial group.

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.

Other terms which are used in this Provision are applied in value of the laws of Ukraine concerning regulation of the market of financial services, securities and regulatory legal acts of the National commission on securities and the stock market (further - the Commission).

4. Submission of the consolidated statements, including annual consolidated financial statements of non-bank financial group, to the Commission is performed by the responsible person of non-bank financial group annually till June 1 of the year following reporting.

5. The annual consolidated financial statements of non-bank financial group are subject to check by the subject of auditor activities according to the laws of Ukraine, regulatory legal acts of the Commission, international standards of audit.

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