TITLE: Ukraine's National Bank Revokes Financial Company Licence for Non-Compliance with Inspection
BODY:
On May 12, 2026, the National Bank of Ukraine (NBU) revoked the financial services licence held by LLC "Skhid Finans" (registration number 38421401). The licence authorised the company to provide factoring services and credit in the form of funds and precious metals.
The NBU's Supervisory Committee for Non-Bank Financial Services Markets made the decision on May 11, 2026. The revocation followed an unscheduled inspection attempt conducted by the NBU in February and March 2026. During this inspection, the company refused to cooperate by failing to provide the NBU inspection team with required documentation and information necessary to complete the inspection process. This obstruction prevented the NBU from conducting the inspection and achieving its regulatory objectives, triggering the enforcement action.
The revocation is authorised under the Law of Ukraine "On Financial Services and Financial Companies" and the NBU's Regulations on Corrective Measures, Early Intervention Measures, and Enforcement Measures in Non-Bank Financial Services Markets, approved by NBU Board Resolution No. 183 of December 25, 2023.
Effective from May 11, 2026, LLC "Skhid Finans" is prohibited from conducting financial services activities, including entering into new service agreements, extending existing agreements, or increasing obligations under existing contracts. The company remains obligated to fulfil its existing contractual commitments with clients. The NBU notified the company of the decision via email on May 11, 2026, constituting formal notice under Ukrainian administrative procedure law.
REFERENCE:
National Bank of Ukraine. (2026). "До фінансової компанії застосовано захід впливу у вигляді відкликання ліцензії" [Financial company subject to enforcement measure in form of licence revocation]. Available at: https://www.nbu.ua/