Regulatory compliance, AML and currency control
We keep activity in line with the requirements of the National Bank of Ukraine and the National Securities and Stock Market Commission: prudential ratios, reporting, disclosure of the ownership structure, support during inspections and challenges to enforcement measures. We build financial monitoring and AML systems with internal rules and a risk-based approach. We advise on the wartime currency restrictions, the repatriation of dividends and individual licences of the National Bank of Ukraine.
Regulatory compliance (the National Bank of Ukraine, the National Securities and Stock Market Commission)
Ongoing support for compliance with the requirements of the regulators: prudential ratios, reporting, disclosure of the ownership structure, corporate governance. Support during inspections by the regulators and challenges to the enforcement measures applied.
Regulatory requirements change constantly, and breaching them can lead to financial sanctions, revocation of licences or a complete halt to the activity of the enterprise.
PROCTOR carries out a full audit of the company's compliance with the legislation in force and with sector regulation.
We analyse the internal processes, the corporate documents, the permit documentation, the system of internal control and the dealings with the regulators.
Our aim is to build a system that lets the company work through constant legislative change without critical legal risks arising.
Financial monitoring and AML
Building systems for the prevention of money laundering: internal financial monitoring rules, identification and verification of clients, a risk-based approach. Defence during inspections by the State Financial Monitoring Service and the National Bank of Ukraine and challenges to fines for breaches of AML legislation.
Currency regulation
Advice on the wartime currency restrictions: repatriation of dividends, settlements under imports and exports, the limits set by the National Bank of Ukraine. Obtaining individual permits and defence during currency supervision measures.
How the compliance work runs
From a review of where compliance stands today to defending the company during an inspection by the regulator.
01
Compliance audit
We review the internal documents, the reporting, the disclosure of the ownership structure and the system of internal control. The output is a list of gaps against the regulator's requirements.
02
Client and payment risk assessment
We look at the structure of the business, the origin of the funds and the cross-border payments through the eyes of a bank and of the State Financial Monitoring Service, to see where operations will stall.
03
Internal rules and procedures
We draft the financial monitoring rules, the client questionnaires, the risk-based approach and the steps for the responsible officer, matched to the real document flow of the company.
04
Training the team
We explain to staff which operations call for extra documents, how to answer a request from the bank and what to do when a payment is stopped.
05
Inspections and enforcement measures
We support inspections by the National Bank, the Securities Commission and the State Financial Monitoring Service, prepare explanations and challenge fines and other enforcement measures.
06
Currency operations and permits
We handle the repatriation of dividends and settlements under imports and exports within the limits of the National Bank, and support the obtaining of individual permits.
How we work on compliance
The format is chosen for the task: a single piece of advice, building the system, or continuous support.
Advice on a single question
A written answer to one question: whether the operation is possible, which documents the bank needs, how a currency restriction applies to a particular payment.
Building the compliance system
An audit, internal financial monitoring rules, client verification procedures and staff training, with support while they are put into use.
Continuous regulatory support
A lawyer runs compliance day to day: reporting and prudential ratios, updating the rules for changes in the law, taking part in inspections and challenging enforcement measures.