The National Securities and Stock Market Commission signed a Memorandum of Understanding with the Croatian capital market regulator

The National Securities and Stock Market Commission signed a Memorandum of Technical Cooperation with the Financial Services Supervisory Agency of the Republic of Croatia (Hanfa).

The signing took place on August 29 in Zagreb, Republic of Croatia, during a working visit of representatives of the NSSMC, which is a continuation of the technical cooperation started in 2019. The purpose of the visit is to discuss issues of harmonization of Ukranian legislation with EU  legislation in the field of  regulation of UCITS and alternative investment funds, which was organized as part of the EU international technical assistance project «Strengthening the regulation and supervision of the non-bank financial market».

«The international support of partners around the world allows our country to stand today in the fight for our independence. And the Croatian financial regulator, together with the NSSMC, will fruitfully cooperate from now for the development of the Ukrainian capital market and the economic future of Ukraine. We thank our colleagues from Hanfa and are confident in the effective results of our work», – emphasized Maksym Libanov, Commissioner.

«Since Ukraine has recently became a candidate for full membership in the European Union, we are aware that the National Securities and Stock Market Commission will face significant challenges in achieving full regulatory alignment and institutional capacity to operate within the EU legal framework. Hanfa, as a competent authority for supervision of financial services of the Republic of Croatia, which has relatively recent experience with the accession process, is ready to provide technical assistance and share our experience», – said the Hanfa Board President, Ante Žigman, in an address to a colleague from Ukraine.

At the same time, he emphasized: «We are aware of the difficult circumstances in which your country is currently due to the ongoing russian aggression, and admire your ability to ensure the functioning of the National Securities and Stock Market Commission and to continue  the activities needed to achieve your goals».

The Memorandum provides for technical cooperation in the field of ​​joint competence, which includes supervision of the capital market and pension funds, while the form of technical cooperation provides for the exchange of experience, working visits, expert missions, workshops, etc.