UNIAN
A bank with an opaque ownership structure will not qualify to obtain a license for carrying out foreign exchange transactions, loan refinancing, participating in a tender for liquidity support and could be declared a problem bank, the National Bank of Ukraine has said.
The NBU has approved new requirements for the disclosure of the ownership of banks, which envisages the disclosure of each individual owner, and committed banks to submit to the NBU updated ownership structures within two weeks, according to a statement published on the Web site of the regulator, referring to its decision of May 21 No. 328, which approves an NBU regulation on the submission of information on the ownership of banks.
According to the NBU, the ownership structure of the bank will be deemed transparent if it declares all the owners of a substantial shareholding in the bank; all key stakeholders of the bank, and key participants of all legal entities with regard to the ownership of corporate rights of the bank, including the nature of the relationships between those entities.
In addition, the National Bank regulated the trust relationship with the ownership of shares of the bank. In particular, the regulator will recognize the ownership structure of the bank as non-transparent if the bank's shares are owned directly or indirectly by a so-called "discretionary trust" - that is by splitting property rights through a trust.