At its meeting on October 5, 2021, the NSSMC (National Securities and Stock Market Commission) approved the draft Licensing Conditions of Professional Activity in Capital Markets – activity of trading in financial instruments. The document was developed under cooperation and support of the USAID Project “Financial Sector Transformation” and legal firm “Saenko Kharenko”.
The document provides the establishment of requirements obligatory for fulfillment at reception of the license for realization of activity on trading in financial instruments, the list of documents submitted by the applicant for issue of the license. And also features of a combination of types of activity on trade in financial instruments among themselves and with other types of professional activity in the capital markets and the organized commodity markets.
The project defines the requirements for obtaining a license and conducting activities of trading in financial instruments by the following types:
– sub-brokerage activity;
– brokerage activity;
– dealership activity;
– portfolio management activity of financial instruments;
– investment consulting;
– underwriting and/or placement activity with the provision of guarantee;
– placement activity without providing a guarantee.
The draft Resolution was developed in accordance with the Law of Ukraine On State Regulation of Capital Markets and Organized Commodity Markets and in order to bring the regulatory and legal acts of the NSSMC in line with the requirements of the Law of Ukraine On Capital Markets and Organized Commodity Markets.
The draft will soon be posted on the NSSMC’s official website for suggestions and comments from the professional community and all stakeholders.
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