Key points
- NBU obliged Ukrposhta to suspend CEO Ihor Smylyanskyi.
- The suspension should occur within 5 working days, and the appointment of a new manager should occur within 2 months.
- The reason is the results of NBU’s supervisory actions regarding the company in 2023-2026.
- During this period, the regulator repeatedly fined Ukrposhta and issued warnings.
- Violations concerned payment services, financial monitoring, risk management, and internal control.
- NBU recognized that Smylyanskyi does not have sufficient knowledge of legislation to manage a payment services provider.
The National Bank of Ukraine (NBU) recognized the CEO of Ukrposhta Ihor Smylyanskyi as not meeting the requirements of professional suitability for the management of a financial payment services provider and obliged the company to suspend him.
Within 5 working days, the authorized body of Ukrposhta must suspend Smylyanskyi from management, and within the next 2 months, appoint a new head.
The decision was made by the Committee on Supervision and Regulation of Banking Activities, oversight of the payment infrastructure. The basis was the results of NBU’s supervisory actions regarding the company in 2023-2026.
During this period, the regulator repeatedly applied fines and written warnings to Ukrposhta due to violations in the field of payment services, financial monitoring, as well as shortcomings in risk management and internal control.
NBU concluded that Smylyanskyi does not have a sufficient level of knowledge of legislation and experience in its application for proper management of the company as a financial payment services provider.
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