Ruslan Magomedov, Chairman of the NSSMC, took part in the event on the the completion of the USAID Project “Financial Sector Transformation in Ukraine” (FST).
The NSSMC has been one of the beneficiaries of the FST Project for five years. With the support of the FST Project and its international professional experience, the NSSMC received expert technical advice on regulations related to information disclosure, supervision of both capital markets and the commodity exchange market, etc. Also within the framework of the FST Project, assistance was provided in the development of the regulatory framework aimed at the implementation of the Law of Ukraine №738-IX.
Within the framework of the partnership, the NSSMC received assistance in the implementation of the split, in particular, expertise in taking over new functions of regulation of private pension funds. In addition, the FST Project assisted in the purchase of information systems and equipment for the NSSMC based on needs assessment and collaboration with other donors.
This is not the whole list, as cooperation with the FST Project has been close and fruitful for many years. Together with international partners, a large amount of outreach work was carried out with the public and market participants, including seminars, round tables and public events.
“We received professional expertise from colleagues from the FST in many areas of the regulator’s work, which formed the basis of our achievements. The NSSMC is grateful to the Project team for its support, understanding and readiness to implement its initiatives to develop capital markets. We had a strong international partner and we thank for such effective work in Ukraine”, Ruslan Magomedov underlined.
The USAID Project “Financial Sector Transformation” supports financial sector reform in Ukraine and provides technical assistance in the following areas: consumer lending; reforming the legislative and regulatory framework; expanding access to finance in the non-banking financial sector; expanding the use of electronic finance; as well as promoting the involvement of the population in financial markets and protecting the rights of consumers of financial services.
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