In order to bring the Regulation on the Procedure for Imposing Administrative Penalties approved by NBU Board Resolution No 563, dated December 29, 2001 into compliance with certain Laws of Ukraine, notably the Laws of Ukraine On Prosecutor's Office, On Prevention and Counteraction to Legalisation (Laundering) of Proceeds from Crime, Terrorist Financing and Financing of Proliferation of Mass Destruction Weapons, On Amendments to Certain Legislative Acts of Ukraine Regarding Liability of  Bank-Related Parties, as well as in an effort to streamline the procedure for imposing administrative liability on persons  on April 30, 2015, the Board of the National Bank of Ukraine issued Resolution No 301 On Approval of Amendments to the Regulation on the Procedure for Imposing Administrative Penalties (hereinafter – Resolution No 301).

Resolution No 301 has addressed the following issues:

• imposing administrative liability on bank-related parties, executive officers of resident non-bank financial institutions, being payment institutions and/or participants in or members of payment systems that are subject to oversight by the National Bank of Ukraine pursuant to the Law of Ukraine On Prevention and Counteraction to Legalization (Laundering) of Proceeds from Crime, Terrorist Financing and Financing of Proliferation of Mass Destruction Weapons;
• the procedure for drawing up an administrative offence report by NBU authorized persons and the conduct of administrative proceedings have been streamlined.

Resolution No 301 enters into force on the day following its official publication.