The Verkhovna Rada of Ukraine has registered draft bill on Introduction of Changes into Acts of Ukraine Regulating Banks’ Activity (#2248). It is the first draft bill written by Rinat Akhmetov, Yuri Voropayev (a Director of Voropayev & Partners law firm, Akhmetov’s private attorney) and A.A. Vilkul (SCM Metinvest Holding Director).
In authors’ opinion, the draft is aimed at “providing for creation of the corresponding conditions for the National Bank of Ukraine to implement its main function – security guarantee and bank system financial stability, protection of the investors’ and creditors’ interests. The draft is also to strengthen confidence in bank system and to speed up Ukraine’s accession into the European economic and legal space.”
The draft consists of numerous innovations; one of them suggests delegating the function of bank articles registration from the NBU to the local authorities. The draft bill provides for abolishment of norm allowing banks to conclude treaties with connected persons on better conditions than the common persons have.
