The NBU proposes that only banking institutions be authorized to carry out cash exchange transactions / Photo from UNIAN
The National Bank of Ukraine (NBU) has revoked four non-banking financial companies' general licenses for forex operations, according to the regulator's website.
In particular, on July 13, the licenses of the following companies were cancelled: Capital TRUST Securities, Sortis, Foyil Securities New Europe, and UFC Capital, the NBU said.
As UNIAN reported earlier, the NBU in early 2015 initiated changes in the currency legislation to bar non-bank institutions from handling foreign exchange transactions.
According to the regulator, such a decision was necessitated by a significant number of violations of currency legislation by non-bank institutions, in connection with which the NBU proposes that only banking institutions, which account for 99% of the total cash flow in foreign exchange trading, be authorized to carry out cash exchange transactions.