27 May 2008, 12:29
It was stressed during the Committee Meeting that the Bill (Reg. No. 2322) was elaborated with the purpose of "elimination of initial conditions contributing to frauds in the field of financial services". Particularly, the Bill envisages that regulations of the Article 202 of the Criminal Code of Ukraine were brought to conformity with legislation on the activity in the field of financial services provision.
The Bill envisages that "Conduct of banking activity or bank operations, other activity on the provision of financial services, as well as professional activity on the stock market without getting a status of financial institution or without special permit (license) is punished shall be punishable by a fine of 200 to 500 untaxed minimum incomes of citizen or by deprivation of liberty for a term of up to 3 years, if according to legislation getting a status of financial institution, receiving of special permit (license) is a pre-condition for the conduct of such an activity, or with violation of licensing conditions, if it was connected with income on a large scale".