According to Fixygen, the National Bank of Ukraine fined “FC Forward Finance” LLC 172.94 thousand UAH and issued a written warning to the company.
According to the NBU, the financial company submitted regulatory reports containing inaccurate data and failed to ensure the functioning of a comprehensive, adequate, and effective internal control system.
The fine was imposed for violating the requirements of paragraph 5 of Section I of the Rules for the Preparation and Submission of Reports by Non-Bank Financial Services Market Participants to the NBU, approved by Resolution No. 123 of the National Bank’s Board on November 25, 2021.
FC “Forward Finance” must pay the fine within one month from the date the decision takes effect. In addition, by July 7, 2026, the company must rectify the deficiency in its operations specified in the written warning.
FC “Forward Finance” LLC is registered in Ukraine, EDRPOU code 38837560. The company operates in the non-bank financial sector, which is regulated by the National Bank of Ukraine. For such institutions, the reliability of financial reporting and the quality of internal controls are key issues in light of requirements for transparency, supervision, and the protection of consumers of financial services.
Source: NBU
