Commission backed Ukraine’s request to accede to the OECD Council Recommendation

The National Securities and Stock Market Commission endorsed, without any objections, the Government’s draft Regulation regarding Ukraine’s application to the Organization for Economic Cooperation and Development (OECD). This refers to an official request to adhere to the OECD Council’s Recommendation on Corporate Governance Principles.

The OECD Principles of Corporate Governance are an international standard that defines approaches to protecting shareholder rights, the functioning of supervisory boards and executive bodies, disclosure of information, transparency, and corporate accountability. They serve as a benchmark for the development of corporate governance and capital markets in OECD and G20 countries.

For Ukraine, this marks a continuation of corporate governance reform. Previously, the Commission had already aligned its basic standards and the Corporate Governance Code with the G20/OECD principles, a move that was positively received by international partners.

Adherence to this Recommendation is another step toward the implementation of international corporate governance standards in Ukraine. The Commission informed the Cabinet of Ministers of Ukraine that the draft Regulation had been endorsed without any comments.