The National Bank published for public discussion a revised draft Regulation on the organization, conduct and registration of the results of inspections of non-bank financial services market participants (hereinafter – market participants).
The first version of this document was published on July 15, 2020.
The project was finalized to improve the procedure for conducting inspections of market participants. The National Bank took into account the need to optimize internal processes within the supervision of non-banking financial services markets.
From November 24, the National Bank will start a public discussion of the revised draft Regulation. The discussion will last one month.
The purpose of the Regulation is transparency and a universal approach to market participants during inspections
Adoption of the proposed Regulation will allow:
- to regulate the procedure for conducting inspections;
- ensure the transparency of this process;
- give participants the opportunity to exercise the right to review the results of the inspection and provide relevant explanations or objections (if necessary).
With this Regulation, the National Bank intends to regulate such issues as:
- types of inspections;
- the procedure for organizing and conducting inspections;
- composition of the inspection team, rights and responsibilities of members of the inspection team;
- rights and responsibilities of managers and employees of the object of inspection;
- the procedure for access to premises, systems for automation of operations, information / documents and their copies;
- registration of results of inspections;
- procedure for action in case of obstruction of inspections.
The regulation should replace the current orders of Natskomfinposlug
This Regulation should repeal the current orders of Natskomfinposlug dated January 21, 2019 № 102 “On approval of unified forms of acts drawn up as a result of planned (unscheduled) measures of state supervision (control) of compliance with business legislation in the field of financial activities services ”and the order of October 31, 2019 № 2181“ On approval of Amendments to the unified form of the Act, drawn up as a result of a planned (unscheduled) measure of state supervision (control) on compliance by business entities with legislation in the field of financial services (except for professional activities in the securities market), which are licensed ”.
Additionally : Analysis of the regulatory impact of the draft Regulation .
Comments and proposals to the draft Regulations are accepted until 24.12.2020 to the e-mail address of the National Bank of Ukraine: [email protected] .