Reforms will not work without consolidated market support — NSSMC Chairman at a meeting with PARD

Chairman of the National Securities and Stock Market Commission, Oleksii Semeniuk, held a working meeting with representatives of the Professional Association of Capital and Derivatives Market Participants (PARD). Commissioners Maksym Libanov and Iraklii Baramiia also attended the meeting. The sides discussed key issues of regulatory policy and directions for the development of capital markets.

One of the key topics was the launch of personal investment accounts.

“We discussed the launch of personal investment accounts — it is important that this be a real, working tool, coordinated with the NBU and with banks playing an active role in shaping demand,” noted Oleksii Semeniuk.

Regulation of private placements was discussed separately. The meeting participants agreed that simply abolishing requirements would not stimulate the market; in contrast, a balanced review of the regulatory model is needed, taking into account current conditions.

Audit and assurance letters, depositary legislation, the work of the Advisory Expert Council, and the model of self-regulatory organizations were also discussed. In particular, the need to reduce excessive burdens on business, to increase the transparency of regulatory processes, and to focus on practical results was emphasized.

Commission representatives emphasized that dialogue with the professional community is a necessary condition for preparing balanced and effective decisions for the capital market.

“Without consolidated market support, reforms do not work. A unified, public voice of the participants is needed,” stated the Chairman of the NSSMC.