The National Bank of Ukraine (NBU) approved requirements for ownership structures of financial service providers and envisaged criteria for their transparency (NBU Resolution No. 30, in effect since 17 April 2021).
According to this resolution, by 17 June 2021, all non-bank financial institutions (except for credit unions), as well as financial leasing services providers and postal operators providing certain financial services, shall:
• submit to the NBU information on their ownership structure;
• disclose the same on their websites.
Some of the requirements to the ownership structure include:
• information on all qualifying shareholders and key owners of corporate rights should be disclosed, as well as data on the nature of their affiliation;
• acquisition/increase of qualifying shareholding shall be agreed with the regulator (NBU);
• a financial institution cannot be owned or controlled by a person who is prohibited from owning corporate rights and/or exercising significant influence over a financial institution in Ukraine.
If NBU decides that the disclosure is insufficient, the institution will be allowed to provide corrections by 17 October 2021. In case of failure to do so, the NBU may revoke the financial service licence.