The National Bank of Ukraine (NBU) has amended the conditions for providing information about the ownership structure of banks to the regulator, the central bank has reported on its website.

The amendments are outlined in NBU resolution No. 109 approving amendments to the rules of providing information on the ownership structure of banks dated November 10, 2017. The resolution takes effect next day after the official publication of the document.

The changes, in particular, provide for the possibility of presenting information on the ownership structure only in electronic form. Documents on the ownership structure on paper can be additionally submitted on the initiative of the bank or at the request of the NBU.

In addition, the changes give the NBU the right to recognize the ownership structure of a bank as opaque if it is not possible to identify a person or persons exercising significant influence over the management or activities of the bank.

Changes also clarified some of the requirements for processing documents.