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NBU to List Documents Required for Inspection of Legal Entities Licensed to Provide Cash Collection Services to Banks

12 November 2018

 

The National Bank of Ukraine (NBU) plans to further develop the requirements to the procedure for inspecting the legal entities that have received the NBU’s license to provide cash collection services to banks. Its intention is to incorporate the lessons learned from the implementation of the procedure. The relevant NBU Draft Resolution On Approval of Amendments to Regulation on Procedure for Inspection of Legal Entities Licensed by the NBU to Provide Cash Collection Services to Banks (hereinafter – the Draft Resolution) has been published on the NBU’s website for public discussion.

 

In particular, the Draft Resolution provides for a list of documents required for inspection of the legal entities that have been granted a license to provide cash collection services to banks. The Draft Resolution also sets a deadline for the NBU to provide a legal entity with the list, which is five business days prior to the inspection.

 

In addition, the regulator has extended a term for exercising the inspection of a legal entity from 3–5 to 5–10 days, which is deemed sufficient for the full planned scale of inspection.

 

Moreover, the NBU has established the procedure for preventing a potential conflict of interest between management of a legal entity and members of an inspection group, which may arise during the inspection of the legal entity, and resolved a number of other technical issues that have arisen from the implementation of the procedure for inspection of legal entities.

 

The regulatory impact analysis of the Draft Resolution is available here.

 

Please send your comments and suggestions on the Draft Resolution to the NBU by mail or email before 12 December 2018.

 

Postal address: Cash Circulation Department, National Bank of Ukraine, 9, Instytutska St., Kyiv, 01601.

 

Email: nbu@bank.gov.ua, Vadym.Kuzin@bank.gov.ua.


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Last modification   12.11.2018