OREANDA-NEWS. On 31 December 2015, the Board of the National Bank of Ukraine issued Resolution No.1003 On Amendments to the Regulation on the Rules Governing the Enforcement of Administrative Fines,  which provides for a reshuffling of subdivisions authorized to examine cases on administrative offences on behalf of the regulator and enforce administrative fines (hereinafter Resolution No.1003).

Thus, amendments shall be made to the Regulation on the Rules Governing the Enforcement of Administrative Fines approved by NBU Board Resolution No. 563, dated 29 December 2001 (hereinafter Resolution No.563

In particular, the amendments made by Resolution No. 1003 have: 

specified that heads of the structural subdivisions of the regulator and their deputies that perform the NBU’s supervisory (oversight) and control functions are authorized to examine cases on administrative offences on behalf of the NBU and enforce administrative fines.   Such subdivisions are as follows: Banking Supervision Department, Bank Inspections Department, Financial Monitoring Department, Registration and Licensing Department, Payment Systems Department and Cash Circulation Department;

authorized banks’ curators and employees of the aforementioned structural subdivisions of the NBU with a mandate to draw up records of administrative offenses.

Additionally, heads of the NBU’s regional offices have been removed from the list of officials authorized to draw up records of administrative offenses.

As a side note, Resolution No. 563 issued in 2002 set the rules governing the enforcement of  administrative  sanctions against banks’ officials and other individuals that are subject to inspections by the NBU for violation of banking laws and NBU regulations, or performance of risky operations, which pose a threat to the interests of bank’s depositors or other creditors, non-compliance with the rules governing the submission of financial statements and accounting rules and procedures during the liquidation proceedings, unlawful disclosure or use of information that constitutes the banking secrecy, resistance to the decision to put the bank into receivership or resolution, as well as performance of banking operations without a banking license.