The Ukrainian Parliament adopted a law regulating and supervising capital markets and organized commodity markets in general.
“This is an important European integration law, which is also a beacon for receiving the next tranche of $1.5B from the World Bank,” commented People’s Deputy Iryna Gerashchenko.
The new law provides for:
- Increasing the institutional capacity of the National Securities and the Stock Market Commission, expanding its powers, enshrining in legislation guarantees of the NSSMC ‘s independence, including financial independence;
- building an effective system of supervision over capital markets and organized commodity markets by the principles of the International Organization of Securities Commissions (IOSCO);
- Implement effective mechanisms to prevent manipulation, insider trading, illegal use of insider information, and other abuses in the capital and organized commodity markets, banning financial pyramids and combating attempts to organize them.
The draft law proposes the implementation of the provisions from the EU Regulation on market abuse, as well as other EU acts in terms of determining liability for violations of legislation on capital markets, etc.