Improved standards for financial monitoring of professional participants have come into force

Amendments to the Regulations on Financial Monitoring performed by Primary Financial Monitoring Entities, which are regulated and supervised by the NSSMC (National Securities and Stock Market Commission), have entered into force today.

The document was registered in the Ministry of Justice of Ukraine №532 / 3654 dated 19.04.2021.

From today most procedures involve remote verification of customers electronically using modern databases, electronic documents and media.

In particular, the document regulates the remote establishment of business relations:
– using the BankID System of the National Bank of Ukraine;
– according to the verification procedure performed by SPFM in the mode of video broadcasting in compliance with the established requirements.

More about the updated provisions of the Regulations you can find at the link: https://ips.ligazakon.net/document/RE36154?an=1