21 December 2010, 13:06
The bill (Reg. No. 7399) specifies the procedure and conditions of bank supervision over the activity of bank and non-bank financial groups, amending and supplementing the Laws "On Banks and Banking", "On the National Bank of Ukraine", and "On Financial Services and State Regulation of the Financial Services Markets."
Under the bill, the basic criterion of a financial group is the relations of control between its participants. Financial groups are divided into the bank financial groups and the non-bank financial groups, depending on the entity that controls the group or the prevalent financial establishments (bank or non-bank financial establishments).
The bill delineates the authorities between the state regulators on the consolidated supervision depending on the type of a financial group.
The bill regulates cooperation between the state regulators, and the respective foreign supervisory bodies.