The National Bank of Ukraine has brought its regulatory legal act in line with the requirements of Ukrainian legislation, which sets out the procedure for supervising compliance with consumer protection legislation.
Corresponding amendments have been made to the Regulation on the NBU’s Supervision of Compliance by the Supervised Entities with the Legislation of Ukraine on Protection of Consumer Rights in Financial Services and Limited Payment Services, Requirements for Interaction with Consumers in Settlement of Overdue Debts, approved by Resolution of the Board of the National Bank of Ukraine No. 198 (as amended) dated September 2, 2022 (hereinafter – the Supervision Regulation).
Amendments to the Regulation on Supervision expanded the NBU’s powers to supervise compliance with the requirements established by law to ensure accessibility of financial, accompanying, payment, and limited payment services for persons with disabilities and other low-mobility groups, as well as the procedure for its implementation; and the right to apply professional judgment in supervising compliance with the legislation of Ukraine on consumer protection in the payment market.
These amendments to the Supervision Regulation were approved by Resolution No. 15 of the Board of the National Bank of Ukraine dated February 11, 2025.
The Resolution will come into force on February 20, 2025.
The Regulation on Supervision has been brought in line with the provisions of Law of Ukraine No. 3994-IX dated October 8, 2024 “On Amendments to Certain Legislative Acts of Ukraine on Improving the Functions of the National Bank of Ukraine on State Regulation of Financial Services Markets”.