The Committee on Legislative Support of Law Enforcement scrutinized the Bill (Reg. No. 2322) on Amendments to Article 202 of the Criminal Code of Ukraine, submitted by the Cabinet of Ministers of Ukraine.
Adoption of the Bill is caused by the increase in the rate of infringements related to operations with financial assets. The field of financial services is of great social importance, and requires clear-cut normative regulation of issues concerning liability for violations in the field of financial services.
The Bill introduces a new version of Paragraph 1, Part 2 of Article 202 of the Criminal Code, which establishes criminal liability for infringements, provided the laws set the status of a financial establishment or a special license as a necessary prerequisite for conducting banking activity, banking operations or other activity related to rendering financial services.
The Committee members upheld the Bill, since its adoption will coordinate regulations of the Criminal Code and the Laws on financial services. Moreover, it will contribute to the protection of rights of financial services consumers.