Poroshenko increased liability of bank owners

9 March 2015 13:13  1193905 094891
Poroshenko increased liability of bank owners

The President of Ukraine Poroshenko signed the law increasing the liaibility of persons affiliated with banks.

This was reported in the press service of the President.

"Poroshenko signed the law № 218-VIII "On Amendments to Certain Legislative Acts of Ukraine Regarding Liability of Persons Affiliated with Banks" - the statement reads. 

The law increases liability of owners and managers of the banks responsible for the financial condition of the institution.

Also the document establishes the property liability of persons affiliated with banks for damage caused to the bank through their fault, and significantly increases the amount of fine that can be imposed on the head of the bank.

The Law also amends laws of Ukraine "On banks and banking", "On enforcement proceedings", "On the system of guaranteeing deposits of natural persons", in particular, expands the list of documents to be submitted for approval of the charter of the legal person intending to carry out banking activities; clarifies the powers of the bank board on the approval of transactions with persons affiliated with banks; sets prohibition to grant loans for the purchase of shares of other banks and to indirectly carry out loan transactions with the persons affiliated with the bank.

In addition, it expands the criteria by which the National Bank is obliged to refer a bank to the category of problem banks, specifies the procedure for disclosure of information containing bank secret by the Regulator and so on.

Ekonomichna Pravda

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