THE DECISION OF STATE COMMISSION ON SECURITIES AND THE STOCK MARKET OF UKRAINE

of October 4, 2005 No. 538

About approval of the Regulations on implementation of financial monitoring by members of the security market

For the purpose of enhancement of realization of provisions of the Law of Ukraine "About the prevention and counteraction of legalization (washing) of income gained in the criminal way" State commission on securities and the stock market SOLVED:

1. Approve Regulations on implementation of financial monitoring by members of the security market it (is applied).

2. Declare invalid the decision of State commission on securities and the stock market of 13.08.2003 N359 "About Approval of the Regulations on Implementation of Financial Monitoring by Institutes of Joint Investment, Stock Exchanges and Other Professional Participants of the Security Market" registered in the Ministry of Justice of Ukraine 05.09.2003 for N 769/8090, and cancel the decision of State commission on securities and the stock market of 16.03.2005 N 93 "About approval of new edition of the Regulations on implementation of financial monitoring by members of the security market".

3. To provide to the chief of staff of State commission on securities and the stock market M. Nepran:

transfer of the Regulations on implementation of financial monitoring by members of the security market for review to the National Bank of Ukraine and State committee of financial monitoring of Ukraine;

state registration of the Regulations on implementation of financial monitoring by members of the security market in the Ministry of Justice of Ukraine;

publication of this decision according to the legislation.

4. The decision becomes effective according to the legislation of Ukraine.

5. To subjects of primary financial monitoring within 30 days from the effective date this decision to bring the activities into accord with requirements of the specified Regulations on implementation of financial monitoring by members of the security market.

6. Control over the implementation of this decision to assign to the member of the commission M. Burmaka and the Chief of staff of the Commission M. Nepran.

Approved by the Decision of State commission on securities and the stock market of October 4, 2005 No. 538

Regulations on implementation of financial monitoring by members of the security market

This Provision is developed according to the Laws of Ukraine "About the prevention and counteraction of legalization (washing) of income gained in the criminal way" (further - the Law), "About financial services and state regulation of the markets of financial services" and extends to dealers in securities, depositaries, the keepers, registrars, issuers performing maintaining own register of owners of personalized securities, stock exchanges and trade and information systems, the companies on asset management, institutes of joint investment (further - subjects) and their separate divisions. The provision does not extend to the banks performing professional activity in the security market.

1. General provisions

This Provision establishes general requirements of State commission on securities and the stock market (further the Commission) relatively:

appointments of the worker responsible for carrying out financial monitoring, its rights and obligations;

main requirements to qualification of the worker responsible for carrying out financial monitoring;

training programs and advanced training of workers on implementation of actions for financial monitoring;

establishments of rules of carrying out financial monitoring and programs of its implementation;

identifications of the transactions which are subject to financial monitoring and transactions which can be connected, be related or intend for financing of terrorism and provision of information on them;

identifications of persons performing financial transactions, storage of the relevant documents;

training of personnel of organization for the purpose of identification of the financial transactions which are subject to financial monitoring.

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