Ukraine: Regulator sent a signal to financial services providers on control of the net worth requirements


In the statement, the Commission reminds the FS Providers (including factoring, financial lease companies, etc., with the exception of insurance companies) of the obligation to have a net-worth of no less than:

  • UAH 3 mln in the case of a company intending to provide one type of financial services; and
  • UAH 5 mln in the case of a company intending to provide two or more types of financial services.

The FS Provider must adhere to the above net-worth requirements during the entire period that information about it is included in the public register. In case of breach, the Commission will take enforcement action and issue an order to remedy the breach which must be complied with within 15 business days. If not remedied, an FS Provider may be exposed to further, more severe sanctions including a fine and suspension or revocation of their license.

Through the information statement, the Commission makes clear the importance that all players in the financial services market ensure that their financial position is in line with the legal requirements.