Financial Group will fall under close scrutiny. The Verkhovna Rada registered a draft law which will give the National Bank, State Commission on Securities and Stock Market and the Commission to regulate the financial markets with special powers. The three regulators will assess not only the one directly accountable to the structure, and all companies that are included in the financial group that owns and controlled by the controller structure. Victoria Boiko for UBR.UA Fingruppy closer to Europe Adoption of the law is neizbezhnm sure Oleg Marchenko, managing partner of law firm: "This is a requirement of the IMF. It aims to strengthen the stability of the financial system of Ukraine. Such restrictions exist in many countries." "Ukraine has committed itself to under the Memorandum of Economic and Financial Policy in the framework of stand-by. And the goal - bringing the Ukrainian legislation to European Union standards. In fact, this law provides for the consolidated supervision of financial groups. Thus, the legislator is trying to divide the financial institution, -supported counterpart Sergei Vasilishin, a partner at the law firm. According to the document, all financial groups are divided into bank and nonbank. Determine this status to the main activity, which predominates in the group. If the dominant banking activities, the group will be supervised by the National Bank. If - other agencies, the non-bank. "The banking financial group is a group in which banking is prevalent at 50 percent or more. And even if it is reduced to 40%, that NBU for 3 years, will oversee. If a component of banking 10-20-30 -40% , then this group will be called non-bank financial group. and supervise its activities will lead Securities Commission or the State Commission for Regulation of Financial Services ", - says Sergey Vasilishin, a partner at the law firm. Consequently, the National Bank or other regulators will assess the performance of the group together. Ie will be consolidated reporting. Will be appointed by the responsible person in each group. This person will coordinate all matters with sotvetstvuyuschimi regulators, to provide consolidated financial statements and reporting on compliance requirements is consolidated supervision. Principal moments, but the key moments in the bill twice. The first - on the requirements for the banking group on equity of non-core institutions. Ie those who are not a bank or other financial institution. "Limitation is that the banking group can not participate in such a legal person more than 60% of the consolidated regulatory capital of the banking group", - stressed Oleg Marchenko. The second relates to the requirement of non-core lending institutions. According to the written requirements, the amount of loans in the aggregate can not exceed 20% of the consolidated charter capital of the group. Thus, the NBU will maintain, for example, the bank from entering into agreements with related persons or entities that have no economic sense and go for projects in favor of the shareholders of the bank or the whole group. Regulators will be able to establish special requirements for the entire group. "NBU will establish liability for breach of any regulations, regulatory capital adequacy norms for the financial group as a whole. Will establish penalties for violating these regulations will prohibit the conclusion of a deal between the team members will be able even to oblige the bank to terminate the agreement under which he acquired share or shares in one company group ", - stressed Sergei Vasilishin. Override workarounds Market on the bill until reacts cautiously. Important than the law itself, but rather how it interpreted as a clear, eventually, will be discharged mechanisms of action. After all, the right to initiate checks can also be distorted if some of the auditors will begin to exceed authority. Evaluation specialists diverge significantly only in one question - who has the most touches such regulation - a group with Western investment, Russian or purely Ukrainian. "The consequence of such regulation may be that industrial groups will be divided, or will withdraw non-core assets separately from the banking or financial group will be hidden so as not to be seen that there is control," - says Oleg Marchenko. By the potential impact of the draft law "On Control over Financial Group can be estimated given the fact that the Verkhovna Rada also introduced a bill number 3884, which concerns the regulation of banking activities. It provides for the obligation of the bank to disclose information about the real owners, who, regardless of formal ownership, have a real effect on the bank and the group. Mechanisms prescribed in the two potential laws are intended to identify risks of fraud and financial losses of depositors and other creditors of the bank.
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