NBU revokes license of financial company

NBU revokes license of financial company

Ukrinform
Based on the results of an unscheduled inspection, the National Bank of Ukraine (NBU) decided to apply a measure of influence to FC Fincom Credit LLC in the form of revoking the license for conducting financial services.

According to the NBU’s press service, the relevant decision was approved by the Committee on Supervision and Regulation of Nonbank Financial Institutions at its meeting on August 19, 2021.

In July 2021, the Onsite Inspections Department of the National Bank initiated an unscheduled inspection of the said financial institution.

During the attempt to conduct the inspection, the authorized persons of the National Bank were not allowed to perform inspection duties and the person authorized to represent the interests of the financial institution was absent on the first day of the inspection. According to the central bank, the fact that the nonbank financial institution refused the inspection is the basis for applying a measure of influence in the form of revocation of the license for conducting financial services.

As reported, on July 1, 2020, the National Bank became the regulator of nonbank financial services market.

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