THE ORDER OF STATE COMMISSION ON REGULATION OF THE MARKETS OF FINANCIAL SERVICES OF UKRAINE

of February 24, 2011 No. 102

About modification of the Regulations on implementation of financial monitoring by financial institutions

According to article 14 of the Law of Ukraine of 18.05.2010 No. 2258-VI "About introduction of amendments to the Law of Ukraine "About prevention and counteraction of legalization (washing) of income gained in the criminal way" State commission on regulation of the markets of financial services of Ukraine DECIDED:

1. Make changes to the Regulations on implementation of financial monitoring by financial institutions approved by the order of State commission on regulation of the markets of financial services of Ukraine of 05.08.2003 No. 25, registered 15.08.2003 for No. 715/8036, having been reworded as follows it which is applied the Ministry of Justice of Ukraine.

2. To financial institutions, and also subjects of managing which according to the status are not financial institutions, but provide financial services, in a month to bring the internal documents into accord with this order.

3. To provide to department of legal providing provision of this order in the Ministry of Justice of Ukraine for state registration.

4. To provide to department of bonds with state bodies, the public and the protocol placement of this order on the official site of Gosfinuslug on the Internet after its state registration.

5. Control over the implementation of this order to assign to the vice-chairman according to distribution of obligations.

6. The order becomes effective from the date of its official publication.

The Order of State commission on regulation of the markets of financial services of Ukraine of August 5, 2003 is approved No. 25

Regulations on implementation of financial monitoring by financial institutions

I. General provisions

1.1. This Provision is developed according to the Law of Ukraine "About prevention and counteraction of legalization (washing) of income gained in the criminal way or to terrorism financing" (further - the Law).

1.2. Action of this provision extends to insurers (overcautious persons), pawnshops, credit unions and other financial institutions, and also on legal entities who according to the legislation provide financial services (except financial institutions and other legal entities, concerning which state regulation and supervision in the field of prevention and counteraction of legalization (washing) of income gained in the criminal way, or to financing of terrorism are performed by other subjects of the state financial monitoring), payment institutes and members of the payment service providers which are non-bank organizations (further - organizations).

1.3. This Provision establishes requirements of State commission for regulation of the markets of financial services of Ukraine relatively:

appointments of the worker responsible for carrying out financial monitoring (further - the ranking officer), its rights and obligations;

main requirements to qualification of the ranking officer;

establishments of Rules of carrying out financial monitoring (further - Rules) and developments of Programs of carrying out financial monitoring (further - Programs);

identifications of the financial transactions which are subject to financial monitoring and which can be connected concern or are intended for terrorism financing;

identification and customer research (persons) performing financial transactions, storages of the relevant documents;

risk managements in the field of prevention and counteraction of legalization (washing) of income gained in the criminal way or to terrorism financing;

procedure for stop and renewal of financial transactions;

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

carrying out internal checks of activities of organization.

1.4. In this Provision terms are used in the value given in the Law.

II. Appointment of the ranking officer of organization (separate division)

2.1. For the purpose of ensuring fulfillment of requirements of the legislation in the field of prevention and counteraction of legalization (washing) of income gained in the criminal way, or to financing of terrorism of organization appoint the ranking officer.

2.2. The ranking officer heads and coordinates implementation (realization) of system of actions for prevention and counteraction of legalization (washing) of income gained in the criminal way or to financing of terrorism of organization.

2.3. The ranking officer is appointed on position at the level of management of organization.

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