The Verkhovna Rada of Ukraine adopted the Law "On Amendments to Clause 32 of the Law "On Financial Services and State Regulation of Financial Services Markets" (re Regulation of Exchange and Storage of Information under the International Cooperation in the Sector of Financial Services Market Regulation)

07 September 2010, 17:25

Publish

The Law offers legislative regulation of storing the information that constitutes professional secrecy received in the course of international cooperation and information exchange.

 

Under the Law, the Authorized Body cooperating with the international organizations, public authority bodies and non-governmental organizations of the foreign states on the issues within its competence is authorized to submit and receive on a reciprocal basis the information on monitoring over financial services and organizations that does not constitute a state secret and submission of which does not result in the disclosure of professional secrecy; and the information on activity of certain financial institutions, as provided by applicable international agreements of Ukraine.

 

A relevant bill adopted with the subedits of the Central Scientific Experts Office of The Verkhovna Rada of Ukraine Secretariate was registered under Reg. No. 6484.