NSSMC took part in the 10th meeting of the EU-Ukraine Association Committee in Trade Configuration

On 02 December, the 10th meeting of the EU-Ukraine Association Committee in Trade Configuration (ACTC) took place, attended by representatives of the National Securities and Stock Market Commission.

During the meeting, the two sides talked about trade between Ukraine and the EU, how the Association Agreement has been implemented, and the process of agreeing on common trade approaches. A separate part of the discussion was dedicated to financial services.

Commission representatives presented the key provisions of the draft Law of Ukraine “On Investment Funds,” which brings Ukrainian regulation closer to EU standards and aims to increase market transparency and investor protection.

In 2025, the NSSMC resumed financial reporting on the capital market — the wartime moratorium on disclosure of companies’ financial condition had been lifted, and all market participants are now reporting in full again. The Commission also adopted a roadmap for sustainable financing and introduced sustainable development instruments, including green bonds.

A separate development was the adoption of the new regulations on qualifying holdings, developed on the basis of the MiFID rules, which introduces a transparent process for the approval and supervision of the acquisition of a qualifying holding.

Work continued throughout the year on harmonizing Ukrainian financial regulation with EU law.

The implementation of regulations governing credit rating agencies in accordance with EU requirements nears completion. The Commission is introducing subordinate legislation to the Laws of Ukraine, adopted in 2024: No. 3981-IX “On Rating Activities,” which implements the EU Regulation No. 1060/2009, as well as No. 3585-IX on strengthening the regulation of capital markets and organized commodity markets, which comes into force on 01 January 2026. Accordingly, the development of subordinate legislation on the prevention of abuse in the capital market is underway, regarding insider trading, disclosure of information, and countering manipulation.

Amendments to the basic legislation are also being prepared. A new draft Law of Ukraine on investment funds, prepared with the support of the EBRD and the World Bank, was submitted to the parliament for consideration, and the public consultation stage is nearing completion. A separate area of work is the modernization of the capital market infrastructure, including legislation on bonds and the introduction of the European green taxonomy. Commission representatives noted that all these legislative initiatives are expected to be considered by parliament next year.

The EU side noted the progress made by the Ukrainian regulator and the high quality of the work carried out, and confirmed its readiness to continue supporting Ukraine in the field of financial regulation.

It is worth noting that the European Commission recently published a report as part of the 2025 EU Enlargement Package, according to which Ukraine received its highest score in the last three years, with positive results in all 36 chapters.