28 October 2026, 16:34
On October 28, the Verkhovna Rada of Ukraine adopted in its entirety the Draft Law "On Amendments to the Law of Ukraine 'On the Deposit Guarantee System for Individuals' Regarding the Corporate Governance of the Deposit Guarantee Fund" (Reg. No. 15269 of May 25, 2026), submitted by Member of Parliament of Ukraine Danylo Hetmantsev.
The objective of the draft law is to enhance the level of corporate governance within the Fund by refining the structure and operation of the Fund's governing bodies, clarifying the requirements for their members, strengthening the role of internal audit, and improving reporting mechanisms and procedures for selecting the Fund's executive leadership.
Specifically, the Law provides for:
clarifying specific provisions regarding the accountability and reporting of the Fund;
updating the composition and procedure for forming the Administrative Council of the Fund;
strengthening the requirements for members of the Administrative Council of the Fund;
expanding the powers of the Administrative Council regarding:
clarifying the operating procedures of the Administrative Council of the Fund;
establishing the Audit Committee of the Administrative Council of the Fund at the statutory level;
clarifying the requirements for members of the Executive Board of the Fund;
clarifying the powers of the Executive Board of the Fund regarding:
improving the selection procedure for the Managing Director of the Fund;
clarifying the requirements for the Managing Director of the Fund and establishing a management continuity mechanism;
clarifying the powers of the Managing Director of the Fund by granting them authority to appoint and dismiss deputy managing directors and to include an Executive Board member from among the Fund’s employees;
updating the legislative framework governing internal audit within the Fund;
enhancing transparency and public access to information regarding bank resolution procedures.