NSSMC is looking for authorized officials: who will make decisions in cases involving violations

As part of the competition for the positions of authorized officials, the NSSMC is looking for professionals who are prepared to take responsibility for decisions that may directly affect market participants, investors, and the development of the capital market as a whole.

A decision made by an authorized official is not a mere formality. Behind every case are specific companies, people, and economic interests. That is precisely why every decision must be lawful, well-founded, and impartial, and professional judgment must be independent.

It is not enough simply to apply law correctly. One must consider all the circumstances of the case, evaluate the testimonies, assess them in light of the requirements of the law, and understand the consequences of the decision reached.

At the same time, modern regulation is not just about identifying violations and imposing sanctions.

The regulator’s role is much broader: to establish clear standards of conduct, encourage market participants to follow the rules, and create an environment in which ethical business practices form the foundation for business and market development.

Therefore, an effective regulatory decision should not merely address a specific violation. It should help prevent similar violations in the future, protect investors’ interests, and support the proper functioning of the market.

Leading international regulators also adopt a similar approach. The UK’s FCA views enforcement not only as a mechanism for responding to violations but also as a tool for deterring misconduct. France’s AMF combines investor protection and ensuring the proper functioning of markets with supporting their competitiveness. At the EU level, ESMA is developing a risk-based approach to supervision, under which enforcement actions must take into account the nature and severity of the violation, its consequences, and the market participant’s conduct.

That is precisely why the Commission needs experts who can combine in-depth knowledge of law, independent professional judgment, and an understanding of the market’s economy.

Judicial experience provides the ability to evaluate evidence impartially and to provide reasoning for decisions. Academic work fosters the ability to systematically analyze law and complex legal constructs. Legal practice provides experience working with legal provisions and real-world legal relationships.

At the NSSMC, these competencies are complemented by another important component — an understanding of the specifics of capital markets and how a particular regulatory decision can affect not only a specific market participant but also the market as a whole.

Being an authorized official means more than just reviewing cases and making decisions. It is an opportunity to use one’s professional expertise to shape the future of the Ukrainian capital market — making it more transparent, accountable, competitive, and attractive to investors.

The competition procedure opened by the NSSMC offers skilled lawyers, judges, academics, and other professionals the opportunity to contribute to the development of a modern regulatory environment and the growth of the Ukrainian capital market.