The National Commission for State Regulation of Financial Services Markets (Natskomfinposlug) considered Better Regulation Delivery Office BRDO’s comments and proposals to the draft regulation of the Cabinet of Ministers of Ukraine “On Approval of Licensing Conditions to conduct business activities on providing financial services (except professional activities on securities market).
The drafter considered some of them straight away, and other comments were considered after the working session initiated by the State Regulatory Service with the participation of the public and businesses and held on February 1. The Better Regulation Delivery Office BRDO expert Leonid Lytvynenko informed about that.
In particular, the BRDO proposed to define a full list of characteristics that make other agreements equal to credit ones.
BRDO experts also proposed to include to the draft a provision, which would allow not only an authorized person but also the head of the Natskomfinposlug to make decisions concerning re-licensing or leaving an application undecided. It is needed to prevent delays in review terms for documents submitted by economic entities.
Also, BRDO’s comments on the necessity to indicate a document, in which the economic entity employees’ qualification is defined, were considered during the session.