The Bill (Reg. No. 4024), submitted by the Cabinet of Ministers, introduces amendments to Article 202 of the Criminal Code of Ukraine concerning a new wording of the title and disposition of Part 2 of Article 202 of the Criminal Code of Ukraine in order to establish criminal liability for rendering financial services without acquired status of a financial institution, provided such a status is legislatively required for performing the said activity.
The Committee members upheld introduction of the said amendments in view of increased number of offences related to operations with financial assets.
The Committee believes that adoption of the Law will contribute to financial services consumers´ rights protection.