NSSMC hosted a meeting with representatives of the European Business Association

A meeting led by Oleksii Semeniuk, Chairman of the NSSMC, was held with representatives of the business community — members of the European Business Association.

Commissioners Maxym Libanov, Arsen Ilin, and Iraklii Baramiia also took part in the event. Representatives from Sens Bank, Kyivstar, Ukrsibbank, Dragon Capital, Activities, Elitbud-M, Aston Ukraine, Vsesvit, Bank Credit Dnipro, Silpo-Food, Philip Morris Ukraine, Sayenko Kharenko, Moore Stevens Consulting, Ario Law Firm, Integrites, and ArcelorMittal Kryvyi Rih were present on behalf of the business community.

Oleksii Semeniuk presented the key priorities for capital market development for 2026–2027. He emphasized that it is important for the Commission to move in the same direction as business: it is business that shapes the demand for development, and the regulator creates the conditions for its implementation.

“Today, the market is focused primarily on domestic government bonds, and our task is to expand the list of instruments in order to launch a full-fledged market with exchange-traded instruments, liquidity, and new issuers. We have prepared a concept note and shared it with the business community for feedback,” he said.

Among the priorities are:

● liquidity formation and incentives for long-term investments;
● moving forward with a “people’s IPO”;
● launch of the municipal bond market from 2027;
● simplifying access to capital markets for small and medium-sized businesses;
● EU integration and harmonization of legislation.

The Commission coordinates its work with the NBU, the relevant Committee of the Verkhovna Rada, MinFinance, and MinEconomy, and also cooperates with international partners — the IMF, the World Bank, the EU, and the EBRD. Preparations are also underway for the second reading of the draft Law of Ukraine on virtual assets — it is tentatively expected that the market will begin operating on within a legal framework in 2027.

Commissioner Arsen Ilin paid special attention to the implementation of the third-level cumulative pension system. Work is continuing on the basis of the EU international technical assistance project “Further regulatory approximation with EU legislation and international standards in financial markets in Ukraine” with the involvement of a wide range of financial market participants. The project provides for phased implementation over 36 months.

The NSSMC is actively involved in drafting legislative amendments. The purpose is to create a transparent system for citizens’ long-term savings and to form internal investment resources for the economy.

Commissioner Maxym Libanov presented his vision of securitization as a mechanism for attracting private capital through debt instruments to support economic recovery. The relevant draft law is planned to be submitted for consideration in the near future.

The need to update legislation on the depository system and create an infrastructure holding company that would combine key elements of market infrastructure was also outlined. Special attention was paid to the development of exchange traded funds (ETFs) as a new instrument for investors.

The meeting confirmed the business community’s interest to actively participate in the development of domestic capital markets and its readiness to engage in the implementation of joint initiatives. The sides agreed to maintain regular and systematic dialogue in order to move forward the practical implementation of the identified priorities.