On 25 January 2016, the Board of the National Bank of Ukraine issued  Resolution No 30 On Amendments to the Regulation on the Application by the National Bank of Ukraine of Enforcement Measures for Violation by Entities Subject to Supervision (Oversight) of the Laws Regulating Payment Systems Operating in Ukraine (hereinafter Resolution No.30).

Resolution No. 30 is intended to streamline the rules governing the application of enforcement measures for violation of the laws regulating payment systems operating in Ukraine.  Pursuant to Article 41 of the Law of Ukraine On Payment Systems and Money Transfer in Ukraine, payment institutions of payment systems, clearing and processing institutions and other entities authorized to render certain services or perform certain operational and technical functions within payment systems are subject to supervision (oversight).

The NBU applies enforcement measures against entities subject to supervision (oversight) to prevent them from performing risky operations that pose threats to the interests of users.

Resolution No. 30, inter alia, has: 

• Empowered the Committee on Banking Supervision and Regulation, Payment System Oversight to apply enforcement measures that include removing payment systems from the register of payment systems and prohibiting their operations;
• Imposed responsibility on the entities subject to supervision (oversight) for non-compliance with decisions of the Committee on Banking Supervision and Regulation, Payment System Oversight. 

NBU Board Resolution No. 30 comes into effect from 28 January 2016.