The Verkhovna Rada Committee on Ukraine's Integration into the European Union considered ARMA's comments to the draft law No. 12374-d on reforming the system of management of seized assets.

The Head of ARMA, Olena Duma, emphasized that the transfer of functions of managing seized assets to insolvency officers contradicts European standards, in particular:

- EU Directive 2014/42/EU on the freezing and confiscation of the proceeds of crime

- Directive (EU) 2024/1260 on asset recovery and confiscation

- Regulation (EU) 2018/1805 of the European Parliament and of the Council as regards the prevention of the destruction or disposal of seized property

- FATF Recommendations 4 and 38 on asset freezing and confiscation

- Copenhagen criteria for EU membership

- Memorandum between Ukraine and the EU on the fight against financial crime

“Insolvency officers act within the framework of bankruptcy cases, which creates a risk of conflict of interest. There are no precedents in Europe for transferring the functions of managing seized assets to an insolvency officer,” emphasized the Head of ARMA.

She cited examples of European practice in France (AGRASC), Italy (ANBSC) and Spain (ORGA), where specialized agencies manage seized assets.

Following the discussion, the VRU Committee on European Integration unanimously decided to support the adoption of Draft Law No. 12374-d in accordance with the Ukraine Facility plan within the established timeframe and the need to finalize it for the second reading, taking into account ARMA's comments.