The Bill (Reg. No.2638) coordinates regulations of legislative acts appertaining to factoring (the Economic and Civil Codes of Ukraine, the Laws "On Financial Services and State Regulation of Financial Services Markets" and "On Banks and Banking Activity") and enhances activity of financial institutions that render factoring services.
Thus, the Bill introduces amendments to the Law "On Financial Services and State Regulation of Financial Services Markets", defining the concept of factoring as a financial service. Owing to the fact that pursuant to the Law, rendering of financial services is an exclusive type of activity of financial institutions, the Bill suggests that financial institutions that render factoring services be allowed to perform other operations directly connected with the rendering of such services.