The Board of the National Bank of Ukraine adopted Resolution No. 386 of 20 September 2012 (registered with the Ministry of Justice of Ukraine on 11 October 2012 under No. 1720/22032) approving the Regulation on the Procedure of Maintenance of the Register of Commercial Agents (Commercial Representatives) of Banks.

The Regulation on the Procedure of Maintenance of the Register of Commercial Agents (Commercial Representatives) of Banks was approved to implement requirements of Article 47 of the Law of Ukraine “On Banks and Banking” and regulates the procedure of the maintenance by the National Bank of Ukraine of the register of commercial agents (commercial representatives) of banks and agency agreements on the provision of financial service concluded with commercial agents.

Henceforth, commercial agents shall not be entitled to provide financial services on behalf of the bank until they are registered with the National Bank of Ukraine.

The banks shall submit the information on the agency agreements in force to the National Bank of Ukraine not later than 60 days after being informed about the technical procedure for maintaining the register.