All commercial banks must disclose their owners and controllers by June 8, 2015. The NBU issued such an order and sent corresponding letters to all commercial banks in Ukraine.
According to the updates to the Law of Ukraine “On Amendments to Certain Legislative Acts of Ukraine on the Liability of Bank-Related Persons,” banks are required to submit a number of documents to the NBU within three months, including those regarding holders of significant participation.
The letter also states that persons who have a significant influence on the management and activities of the bank’s controller and the bank itself are considered as holders of a significant participation, taking into account the provisions of the law. These persons must also submit to the NBU by June 8 a package of documents to approve the acquisition of a significant participation in the bank.
Referring to the provisions of the new legislation, holders of significant participation, in addition to shareholders with a share of over 10% in the capital, include persons who, regardless of their shareholding, can significantly influence the management or activities of the bank.
The NBU obliged all commercial banks to communicate the information set out in the letter to their owners and controllers. The regulator also noted that in case of violation of these requirements, appropriate measures will be taken against banks.
SKELET-info
