Overview of Ukraine's anti-corruption legal framework | contribution to IBA Anti-Corruption Committee update by Sergiy Grebenyuk and Orest Stasiuk
The process of development of anti-corruption framework in Ukraine to large extent is divided into two periods – before and after the February 2014 Revolution of Dignity. Since collapse of the Soviet Union in 1991 and until 2014, Ukraine's anti-corruption system was very ineffective. The institutions, which were mandated to fight corruption were among the most corrupt.After 2014, new laws were adopted setting framework for new enforcement agencies and preventive institutions (the National Anti-Corruption Bureau, Specialized Anti-Corruption Prosecution Office, the Business Ombudsman Council, and the National Agency for Prevention of Corruption). Establishment of these new institutions revitalized Ukraine’s anti-corruption regime and activated enforcement.
On 17 August 2017, the National Bank of Ukraine (the “NBU”) adopted resolution No. 80 (the “Resolution”) whereby the rules and procedures for issuance to non-bank financial companies (“Financial Companies”) of licenses for making money transfers in national currency without opening of accounts (“License”) have been significantly amended. The Resolution is effective as of 22 August 2017.