NBU proposes to discuss unified requirements for licensing documents in nonbank financial services market
The National Bank of Ukraine (NBU) has developed and published for public discussion a draft resolution approving regulations on general requirements for licensing documents in the market of nonbank financial services and the procedure for their submission to the regulator within the framework of separate procedures.
As reported on the NBU website, the document was developed in accordance with the requirements of the law "On Financial Services and Financial Companies," the law "On Insurance" and the law "On Credit Unions" and will come into force on January 1, 2024.
According to the regulator, in particular, the general requirements for documents necessary for licensing, registration, authorization of participants in the financial services market and participants in the payment market, in the event of an insurer's voluntary exit from the market, submitted for the purpose of identification and recognition of non-banking financial groups, have been unified.
Among other things, the draft defines the requirements for the certification and legalization of documents, their reliability, form and method of presentation, the procedure in case of impossibility of providing individual documents or complying with the form of their presentation, the method of communication between the National Bank and the applicant, as well as the list of documents on the basis of which the regulator carries out identification individuals, individual entrepreneurs, legal entities and representative offices within the above licensing procedures.
Comments and proposals for the draft will be accepted until November 27, 2023.