NBU Proposes New Regulatory Framework
The National Bank of Ukraine (NBU) has published for discussion two draft resolutions that will update the requirements for the ownership structure and authorization of financial service providers.
The aim is to bring existing regulations into line with current legislation, enhance market oversight, and extend rules to foreign branches and new categories of providers.
Draft Resolution No. 1 — Ownership Structure Requirements
The first draft resolution proposes a comprehensive update of regulations governing the ownership structure of financial service providers. Key changes include:
-
Unification of requirements for ownership structure in a single regulatory act.
-
Inclusion of non-financial payment providers in the rules.
-
Clearer distribution of powers between NBU committees.
-
Norms for the application of NBU’s professional judgment in supervision.
-
Procedures for submitting and verifying ownership documents.
-
Mandatory submission of documents when changing key participants in collective investment institutions.
-
Extension of requirements to branches of foreign financial companies.
-
Annual reporting obligation for all supervised entities.
Draft Resolution No. 2 — Authorization Rules
The second draft resolution updates NBU’s approach to authorizing financial service providers. Proposed changes include:
-
Registration procedures for collection companies.
-
Updated process for administrative proceedings and submission of documents to the NBU.
-
Clarified authorization rules for financial service providers and conditions of their activities.
-
Specific provisions for financial payment and limited payment service providers.
Why the Changes Matter
These updates are designed to:
-
Harmonize regulations across different categories of financial institutions.
-
Ensure greater transparency in ownership and control of financial companies.
-
Strengthen oversight of foreign branches operating in Ukraine.
-
Align Ukraine’s financial supervision with EU and international standards.
Next Steps
Both draft resolutions are open for public discussion, and the NBU encourages industry stakeholders to provide feedback. Once finalized, the new regulations will create a more transparent, unified, and predictable framework for financial service providers operating in Ukraine.
🔑 Conclusion: By updating requirements for ownership and authorization, the NBU aims to strengthen the resilience, transparency, and investor confidence in Ukraine’s financial sector, paving the way for further integration with European financial markets.
