Pension funds, new rules, and the capital market: highlights from an NSSMC meeting

On 11 September, the NSSMC held its regular meeting and adopted resolutions on all 71 items on the agenda.

Among the key decisions was the issue of voluntary pension provision. The Commission approved its reference notes on the draft Laws of Ukraine No. 15570 “On Voluntary Pension Funds,” No. 15571 on amendments to the Tax Code, and No. 15572 on the regulation of the activities of voluntary pension funds under the Civil Code of Ukraine.

Beyond this, the Commission:

● approved requirements for the use of outsourcing by professional participants in capital markets and organized commodity markets;
● approved regulations on the prevention and detection of insider trading and market manipulation, or attempts to commit such acts, in capital markets;
● approved changes to the procedure for recording and reviewing cases of administrative violations by the Commission;
● endorsed a draft Resolution of the Cabinet of Ministers of Ukraine on a pilot project to introduce temporary state administration of entities subject to sanctions.

A separate set of decisions concerned professional market participants — the approval of candidates for key positions of responsibility, as well as the registration of share issues and reports on the results of securities issues.

In addition, the Commission adopted a number of decisions regarding the issuance of shares by venture capital corporate investment funds, the cancellation of the registration of certain issues of investment certificates, and the registration of reports on the results of share and corporate bond issues.

You can access the list of decisions made by at this link.