On April 14, 2015, the National Bank of Ukraine took action against Ms. Anastasiia Abramova, the owner of a qualifying holding in ALPARI BANK for violation of the applicable banking laws in terms of acquiring a qualifying holding in a bank without the prior consent of the regulator. She is banned from exercising control of this bank until she takes corrective action to eliminate violation of the applicable laws.
The National Bank of Ukraine has stripped the single shareholder of this bank - The Prompt Legal Aid Law Firm, LLC, in which Ms. Anastasiia Abramova holds a 99.9% stake, of the voting rights in the bank. The right to exercise voting rights arising from these shares at a Shareholders' General Meeting has been transferred to the NBU representative.
In compliance with Article 34 of the Law On Banks and Banking, a legal or natural entity intending to acquire a qualifying holding in a bank, directly and/or indirectly, is required to notify the National Bank of Ukraine of its intentions three months prior to the acquisition and submit a set of documents for approval.
On December 19, 2014, Ms. Anastasiia Abramova acquired a 99.9% stake worth about UAH 125 million in the Prompt Legal Aid, LLC. Following the actual acquisition of a qualifying holding in the bank, she submitted a set of documents to the National Bank, seeking to obtain its approval. In compliance with the fifteenth part of Article 34 of the Law of Ukraine On Banks and Banking, on March 19, 2015, the National Bank of Ukraine denied approval for the acquisition.
To eliminate violation of the applicable banking laws, Ms. Anastasiia Abramova is required to alienate shares to a third party that meets the eligibility requirements placed on the owner of a qualifying holding in a bank in line with the applicable law, or finalize the previously submitted set of documents, and if it is possible to correct deficiencies, submit an updated set of documents to the National Bank of Ukraine. The existing shareholder of the bank may regain its voting rights only if the National Bank of Ukraine approves the acquisition of a qualifying holding in a bank by this shareholder.
The National Bank of Ukraine is set to further exercise its right to take action against legal or natural entities seeking to acquire a qualifying holding in a bank, directly and/or indirectly by using nominees, without the prior consent of the regulator in violation of the banking laws. The banks that are on paper owned by nominees will be recognized as banks with opaque bank ownership structures and classified as problem banks.
Information on the decision to classify a bank as problem constitutes banking secrecy and is not subject to disclosure. If within 180 days since the date when the decision to declare a bank a problem bank is taken, its beneficial owners fail to disclose beneficial ownership information and secure the approval of the National Bank to acquire a qualifying holding in a bank, the National Bank will declare this bank insolvent and put it into resolution.