Commission simplifies rules for businesses and strengthens investor protection: 40 decisions in Q2

In Q2 2026, the National Securities and Stock Market Commission adopted 40 regulatory decisions aimed at improving the rules governing capital markets. Key changes include simplifying certain procedures for businesses, increasing the transparency of market participants’ activities, and strengthening investor protection. Some of the decisions also adapt regulation to the conditions of martial law.

Most of the decisions deal with the operation of markets under martial law. The Commission clarified the procedures for conducting certain securities transactions so that investors can continue to invest and companies can raise capital even during wartime. Specifically, this concerns transactions with Eurobonds, conversion of corporate bonds, and public placements of securities.

“The war has not eliminated the need for businesses to raise capital or for citizens to invest. The Commission’s task is to ensure that, even under these conditions, the market continues to function and the rules remain clear and predictable,” said Commission Chairman Oleksii Semeniuk.

Another equally important area was the update to the rules on disclosure of information. The Commission more clearly defined when a company may delay the disclosure of important information if its immediate disclosure could harm legitimate interests, and at the same time clarified what information issuers are required to disclose. This will make it easier for companies to comply with legal requirements and will help investors better evaluate information about issuers and make informed investment decisions.

The Commission also adopted a series of decisions that make amendments to the operating conditions for certain market participants. In particular, it approved a new procedure for issuing local government bonds. As a result, local communities will be able to raise funds more quickly for infrastructure development and the implementation of other important projects.

The reporting procedures for depository institutions, the reporting requirements for investment firms were amended, and the rules for licensing professional activities in the capital markets were improved. These amendments simplify market participants’ interactions with the regulator and make regulatory requirements clearer and more predictable.

“Good regulation isn’t about more rules. It’s about less unnecessary bureaucracy where it hinders business, and more investor protection where it is needed. It is precisely this balance that builds trust in the market,” emphasized Oleksii Semeniuk.

The Commission is already working on the next set of amendments. Following a public consultation, it plans to approve new software requirements for professional market participants, as well as updated operating rules for collective investment institutions, non-state pension funds, and other capital market participants.

A separate set of measures currently being prepared for approval is aimed at strengthening investor protection. The Commission will establish requirements for investment recommendations to ensure they are more transparent and do not mislead investors, improve mechanisms for detecting insider trading and price manipulation, and regulate the procedures by which companies may repurchase their own shares.

Work on updating the regulations is ongoing. The Commission’s goal is to create a modern, transparent, and competitive capital market that simultaneously ensures adequate investor protection, reduces regulatory barriers for law-abiding businesses, and meets European standards.