How did the financial market change in 2024? The annual Commission Activity Report

The Commission continues to adapt and ensure the development of capital markets despite the challenges posed by the state of war. The previous year allowed us to strengthen regulatory capacity and safeguard the functioning of the financial sector, laying the foundations for EU integration and future economic recovery.

Among the main achievements of 2024:
– harmonization of Ukrainian legislation with EU law — the Law No. 3585-IX was adopted, which is paving the way for Ukraine’s accession to the IOSCO Multilateral Memorandum (MMoU);

– strengthening international cooperation — a Memorandum of Understanding on long-term cooperation was signed with BaFin (the German Federal Financial Supervisory Authority);

– new financial instruments — the Law No. 3586-IX on agricultural notes was adopted, allowing agricultural producers to quickly raise funds to finance future harvests;

– digitalization — a new LLC shares depository accounting system was introduced thanks to amendments to the Law of Ukraine On Limited Liability Companies, which simplifies corporate procedures;

– the future virtual assets market — the active development of the draft law No. 10225 on regulation of circulation and taxation of virtual assets, which is based on EU practices (MiCA Regulation) has been ongoing;

– investor protection — the NSSMC continues to systematically combat fraudulent investment projects. By the end of 2024, 384 SCAM projects had been identified.

All these are steps towards sustainable financial recovery and full integration into the EU financial space.

For more details, please refer to the annual Commission Activity Report 2024 following the link.