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The NBU has launched a portal with information about the real owners of non-bank financial institutions

11/ 05/ 2021
  The National Bank of Ukraine has launched a thematic web page dedicated to the topic of disclosure of ownership structures of non-bank financial institutions:  https://promo.bank.gov.ua/transparent-nonbank-market/  The relevant NBU press release can be found at the link.   As stated in the portal, consumers of financial services should be aware of the nature of the institution to which they are going to trust their money or take a loan. The transparency of the financial sector is a key factor of its reliable operation which ensure the confidence of the regulator and a customer. At the same time, a transparent ownership structure is one of the key licensing conditions, and failure to comply with it will result in the deprivation of the company of all licenses. As of today, the web page contains: · information on the stages and terms of property disclosure, their harmonization with the requirements of the NBU; · examples of the way to fill out documents for market participants to disclose ownership structures; · common schemes of ownership concealment. Starting from May, the NBU will constantly add updated information on the number of non-bank financial institutions that have already disclosed their owners and corrected deficiencies in the structure. The European Business Association welcomes the fact that financial market transparency remains one of the priorities for the NBU and the regulator’s comprehensive information support of the business in adapting to the new regulation. After all, the honest business advocates for transparent and open work!   Be the first to learn about the latest EBA news with our Telegram-channel – EBAUkraine.

The National Bank of Ukraine has launched a thematic web page dedicated to the topic of disclosure of ownership structures of non-bank financial institutions: 

https://promo.bank.gov.ua/transparent-nonbank-market/ 

The relevant NBU press release can be found at the link.  

As stated in the portal, consumers of financial services should be aware of the nature of the institution to which they are going to trust their money or take a loan. The transparency of the financial sector is a key factor of its reliable operation which ensure the confidence of the regulator and a customer. At the same time, a transparent ownership structure is one of the key licensing conditions, and failure to comply with it will result in the deprivation of the company of all licenses.

As of today, the web page contains:

· information on the stages and terms of property disclosure, their harmonization with the requirements of the NBU;

· examples of the way to fill out documents for market participants to disclose ownership structures;

· common schemes of ownership concealment.

Starting from May, the NBU will constantly add updated information on the number of non-bank financial institutions that have already disclosed their owners and corrected deficiencies in the structure.

The European Business Association welcomes the fact that financial market transparency remains one of the priorities for the NBU and the regulator’s comprehensive information support of the business in adapting to the new regulation. After all, the honest business advocates for transparent and open work!

 

Be the first to learn about the latest EBA news with our Telegram-channel EBAUkraine.

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