The case of the NBU's chief lawyer. Investigators must find out whether violations of the law were systemic

Director of the Legal Department of the National Bank of Ukraine (NBU) Oleksandr Zyma, who is also the chairman of the Administrative Council of the Deposit Guarantee Fund, has been in the spotlight due to the opening of criminal proceedings for alleged abuse of power or authority. This situation is a matter of serious concern, as his decisions could have dealt a serious blow to the reputation  of the NBU and the financial system as a whole, UNN writes.

The Legal Department of the National Bank of Ukraine is responsible, among other things, for defending the regulator's position in court. However, as stated in the criminal proceedings, Zyma, as the NBU's chief lawyer, decided to take the easy way out. Instead of preparing arguments on behalf of the regulator, he sent a letter to the Deposit Guarantee Fund recommending that the DGF withdraw the lawsuits filed by Concorde Bank against the NBU.  The document referred to four lawsuits filed by the bank against the NBU, in which Concorde demanded that fines totaling almost UAH 63.5 million be canceled. They were filed even before the National Bank decided to liquidate Concorde and put it under temporary administration.

Later, the Shevchenkivskyi District Court of Kyiv recognized Yulia Sosedka, a co-founder of Concord Bank, as a victim  in this criminal proceeding. After all, according to the co-owner of Concorde, Yelena Sosedka, Zima deprived the bank's shareholders of their constitutional right to a fair trialby his instructions.

Lawyers interviewed by UNN point out that Zyma has committed a serious violation of the law and should be held criminally liable.

In addition, his actions, according to experts, cast a shadow over the work of the entire regulator and may have negative consequences for the banking sector. Given these circumstances, there is an urgent need for a thorough review of all decisions made by Zyma in his current position in terms of their compliance with applicable law.

It is important for Ukraine's society and partners to understand whether the NBU's chief lawyer has always acted legally or whether he sometimes allowed himself to act in someone else's interests, even in his own. 

During the investigation of his case, SBI investigators should check whether Oleksandr Zyma's violation of the law was systematic. 

"There is a so-called principle of criminal procedure, the so-called completeness of the pre-trial investigation. And it always consists in investigating all the circumstances that preceded the crime and investigating all other decisions that could have the characteristic of being made illegally," explained lawyer Serhiy Lysenko in an exclusive comment to UNN.

At the same time, he added that investigators determine the scope of such an inspection at their own discretion.

Such an audit is necessary to ensure that none of the decisions violate the current legislation and harm the interests of the NBU, the state, or representatives of the banking sector. In addition, it will help to maintain confidence in the regulator as the country's key financial institution in the future. 

If violations are detected, the NBU will be able to take the necessary measures to remedy the situation and prevent similar cases.

The criminal proceedings against Oleksandr Zyma emphasize the need to strengthen control and verification of the legality of decisions made at senior positions in the NBU. This is not only a matter of justice, but also of protecting the interests of the state and ensuring the stability of Ukraine's financial system. An independent review of Zyma's decisions could be an important step towards strengthening trust in the regulator and increasing the transparency of its work.