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The National Bank of Ukraine has revoked the licenses of six financial institutions

The National Bank of Ukraine has revoked the licenses of six financial institutions

Дата публікації: 28-08-2021
The National Bank of Ukraine (NBU) has revoked the licenses of six non-bank financial services market participants — one pawnshop and five financial companies.

The decision was made by the Committee on Supervision and Regulation of Non-Banking Financial Services Markets. Licenses were revoked temporarily due to the fact that financial institutions did not comply with the decision of the National Bank and did not eliminate the violation, in particular did not submit:

  • reporting for the first quarter of 2021;
  • a report on the elimination of the violation and duly certified documents confirming the elimination of the violation.

Thus, "LOMBARD" IZILON "LLC" IZILON "AND COMPANY" (USREOU 41081620) revoked the license to lend funds, including on the terms of a financial loan.

All licenses to provide financial services to five financial companies have also been revoked. We are talking about:

  • FINANCIAL COMPANY "VIRTUOS" (USREOU 42253561);
  • LLC "BURLINK LTD" (USREOU 42910358);
  • FIN-INVEST FINANCIAL COMPANY (USREOU 42681905);
  • LLC FINANCIAL COMPANY "INTERNAL FINANCE" (USREOU 43328407);
  • LLC "FINANCIAL COMPANY" SEQUENCE "(USREOU 40094618).

Decisions on the application of measures of influence shall take effect on August 28, 2021. From this day, these institutions lose the right to carry out financial services, which requires a license. In particular, the right is lost:

  • enter into agreements (extend the term of existing agreements) on the provision of financial services with clients on the type of financial services for which licenses have been issued;
  • enter into agreements (amend existing agreements) on the provision of financial services, which result in an increase in their obligations to customers regarding the type of financial services for which licenses have been issued.

At the same time, the revocation of licenses does not terminate the obligation of financial institutions to fulfill their obligations under agreements with customers on the types of financial services specified in the decisions of the Committee, concluded before the date of entry into force of decisions to revoke licenses.

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