LAW OF UKRAINE

of September 20, 2019 No. 122-IX

About modification of some legal acts of Ukraine concerning consumer protection of financial services

The Verkhovna Rada of Ukraine decides:

I. Make changes to such legal acts of Ukraine:

1. In the Code of Ukraine about administrative offenses (The sheet of the Verkhovna Rada of USSR, 1984, appendix to No. 51, the Art. 1122):

1) in Article 156-1:

the paragraph one of part one after words to "citizens consumers" to add with words "(except consumers of financial services)";

add with parts five and the sixth the following content:

"Failure to provide, untimely provision to the consumer of financial services of information on conditions of provision of financial service which he intends to receive, and other information which obligation of provision to the consumer of financial services is stipulated by the legislation, and also provision of information on financial service, the participant of the market of financial services which contains incomplete, inexact or false information (data),

involve imposing of penalty on officials, physical persons - entrepreneurs from fifty to hundred free minima income of citizens.

The actions provided by part five of this Article, which are commited by person which within year was subjected to administrative punishment for the same violations,

involve imposing of penalty on officials, physical persons - entrepreneurs from hundred to two hundred free minima income of citizens";

And figures "Articles 156-1" shall be replaced with words 2) in Article 218 of the word also in figures "parts one - the fourth Article 156-1, Articles";

Article 234-3 part one after the words "connected with" to add 3) with words and figures "violation of the law about consumer protection (part five, the sixth Article 156-1 - for the violations made by participants of the markets of financial services if state regulation of the market of such services is performed by the National Bank of Ukraine)";

4) in Article 244-4 part one the word and figures of "Article 156-1" shall be replaced with words also in figures "parts one - the fourth article 156-1, of article";

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