BP adopted a law on the return of the defrauded depositors and to strengthen the responsibility of financial institutions

Verkhovna Rada of Ukraine adopted the proposed President of Petro Poroshenko, a law on compensation to individuals through the system of guaranteeing deposits of physical persons of the harm caused by abuses in the field of banking and other financial services (No. 5390).

The bill on Tuesday 15 November as a basis and generally supported by 285 MPs with the necessary minimum of 226 votes.

Note that for half an hour before the Finance Committee at its meeting decided to recommend the Parliament to adopt the document.

«Finally, the authorities drew attention to the affected depositors. In our Committee we have had dozens of extended meetings and hearings of the Committee. And you know the worst thing? None of the state authorities have not offered a way out. And only at the last minute under protest introduced a bill», — said the Chairman of the Verkhovna Rada Committee on financial policy and banking Serhii Rybalka, gave his press-service.

He recalled that in the summer on the initiative of the President has established a working group on this issue.

«But she was going just now. When we discussed this situation at the Committee hearings, the head of the NBU didn’t even show up! Responsibility for the Scam is on them in the first place! Where I watched the division of banking supervision when the pensioners were told to sign a false business with any financial company instead of a Bank?» said Fishing.

According to him, the presidential project is primarily aimed at solving problems already deceived people, but deputies are working to prevent similar situations in the future.

He stressed that it is necessary to solve these issues, and the Finance Committee adopted the Strategy of development of the banking system in the coming years to restore public confidence in the banking system. According to the head of profile Committee, on the basis of the Strategy proposed legislation changes in the national Bank and of the system of guaranteeing Bank deposits.

So, earlier, on 11 November, President Poroshenko during a meeting with representatives of the depositors of the Bank «Michael» said that he had submitted to the Parliament as urgent the bill.

Under the bill, when acting as attorney, agent, or intermediary to raise funds, the Bank must inform clients in writing of the non-proliferation of such tools guarantees reimbursement of the Deposit guarantee Fund of individuals (fgvfl).

In the explanatory Memorandum to the bill suggests that such a system will allow to avoid abuse of trust of investors using banks. In particular, we are talking about the scheme, when in the Bank’s premises to natural persons are encouraged to enter into a contract of loan with non-Bank financial institutions through the attorney represented the Bank. This opens the Bank account from which the funds are transferred to the accounts of non-Bank institutions.

According to the DGF, with the use of such schemes have been robbed through the Bank Mikhaylovskiy 14 thousand physical persons for the sum more than 1,5 billion UAH. In this age of over 45% of individuals affected by the scheme, older than 55 years.

The bill also provides that for equal contribution of funds attracted from physical persons as a loan or contribution in non-banking financial institution through a Bank, which acted as the attorney and on the day of entry into force of this bill considered insolvent if the Bank did not inform the person against signature on the distribution at his expense guarantees provided by the law on system of guaranteeing deposits. In this case, natural persons is equated to the depositor and is entitled to a refund.

The bill provides an instruction to the Deposit guarantee Fund of natural persons to scrutinize the documents for each of physical persons, which equated to a depositor, and no later than 20 working days from the date of entry into force of the law to start paying refunds.

The document was developed with the participation of the NBU, DGF, Ministry of Finance and law enforcement.

We will remind also that on may 23 the national Bank of Ukraine announced the decision about the Bank becoming «Michael» insolvent due to the Bank’s questionable operations with deposits of individuals.

BP adopted a law on the return of the defrauded depositors and to strengthen the responsibility of financial institutions 15.11.2016

Ноябрь 15th, 2016 by
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