Legislative initiatives, investor protection, and oversight of market participants: results of the NSSMC meeting

Today, August 19, a regular meeting of the National Securities and Stock Market Commission (NSSMC) was held. The NSSMC considered issues related to legislation, capital market regulation, investor protection, and the activities of professional market participants.

During the meeting, the NSSMC, in particular:

• supported three draft laws, including one on bringing Ukrainian legislation closer to EU requirements in the area of anti-money laundering;
• approved a new procedure for the submission of reporting data by asset managers;
• decided to inform investors about the dubious investment projects “Aurora Trade Limited” and “CadBrokers”;
• ordered inspections of two professional market participants;
• terminated the dealer license of LLC GUDVIL-BROK;
• registered share issues of five venture corporate investment funds for collective investment, as well as approved draft charters and registered share issues of two more funds for the formation of their initial charter capital;
• considered issues concerning the status of critically important enterprises: confirmed the validity of previously adopted decisions, while for certain enterprises found non-compliance with the criteria and revoked their status as critically important.

Separately, the NSSMC approved the candidacies of responsible employees and members of the supervisory boards of several asset management companies.

The full list of adopted decisions is available at the link.