Financial sector news

On 23 March, the Verkhovna Rada adopted as a basis a government draft law to expand the list of grounds for disclosing bank secrecy by banks. This was reported by the press service of the Ministry of Reintegration. 

The Verkhovna Rada adopted in the first reading Draft Law No. 9235, which provides for amendments to the legislation on disclosure of bank secrecy and measures to establish guardianship over the property of persons declared missing or missing in special circumstances.

The draft law was developed by the Ministry of Reintegration. The Government's position was presented at the plenary session of the Verkhovna Rada on 23 May by Roman Usenko, Deputy Minister for TOT Reintegration.

The purpose of the draft law is to provide a legislative framework for banks to disclose information that constitutes bank secrecy at the request of notaries to establish guardianship over the property of a missing person or a person who went missing under special circumstances.

‘In addition, notaries will be able to receive information on accounts, funds, movable property, etc. This will help protect the rights of family members of such persons,’ the Ministry of Reintegration said in a statement.