On 15 November, for the first time in Ukraine the Forum on management of seized assets ‘FORMA’ was held in Kyiv. It was organized jointly by the EU Anti-Corruption Initiative in Ukraine (EUACI) and the National Agency of Ukraine for finding, tracing and management of assets derived from corruption and other crimes (ARMA).
With such events, the EUACI provided the assistance to ARMA in improving its work and establishing effective communication with the international partners and the Ukrainian business community.
During the event 147 representatives of Ukrainian business attended 7 panel discussions on practical issues of management and sale of seized assets. 13 international experts from Belgium, Great Britain, Italy and the Republic of South Africa shared their experience and best practices . International experts have emphasized that in EU Member States the function of management of seized assets is already working for more than 20 years and they are convinced that it will soon become the regular practice in Ukraine as well.
The forum ‘FORMA’ was supported by the representatives of the Ukrainian government. In particular, the Vice Prime Minister for European and Euro-Atlantic Integration of Ukraine, Ivanna Klympush-Tsintsadze has noted that, despite all the difficulties, ARMA had achieved the first positive results. In addition, she called on the Ukrainian business to be engaged in effective and mutually beneficial cooperation in order to create a new market of public-private partnership in the field of management of seized assets.
The representatives of the international community, in particular the EU Delegation to Ukraine and the Danish Embassy in Ukraine, stressed on the effectiveness of the model used for the design of ARMA. They emphasized that the function of recovery and asset management is important in the fight against corruption, and international partners will continue to support its implementation.
During the event, Eka Tkeshelashvili had told about the experience of similar institutions as ARMA in the European Union Member States and their cooperation with Ukraine. The Head of the EUACI drew attention on building trust of business and society in the work of the Ukrainian Agency. In her opinion, as soon as society fully understands the functions and strategies of ARMA’s work, the asset management market will grow. Therefore, it is important to work on the development of effective interaction between state bodies and business companies.
The forum on management of seized assets is extremely important in terms of strategic development of ARMA. After all, one of the key functions of the Agency – the management of seized assets – is the unique example of possible mutually beneficial public-private partnership. This is an instrument that opens up new opportunities for business development and, at the same time, a public function of the state, which completely depends on the interest of business in cooperation,’ said Anton Yanchuk, Head of ARMA.
Jean-Michel Verelst, Director of the Central Office for Seizure and Confiscation of the Kingdom of Belgium, shared experience of managing digital assets such as cryptocurrency (Bitcoin, Ethereum) through the private sector. Aidan Larkin, Head of Asset Recovery Group at Wilson Auctions (UK), pointed out the importance of involving the representatives of private sector in the management and sale of seized assets. Besides, the international experts noted that Ukraine has made the first successes in this area.
