New powers of NSSMC: The process of solving the problem with Freedom Finance Ukraine clients has begun

National Securities and Stock Market Commission (NSSMC) has new powers that allow it to begin the process of resolving the situation with the clients of LLC Freedom Finance Ukraine . This became possible due to the adoption by the Verkhovna Rada of the new Law of Ukraine on Regulation and Supervision of Capital Markets and Organized Commodity Markets (No. 3585-IX).
The first step of NSSMC was to adopt a Resolution on the appointment of an interim head of the executive body of a professional participant, Oleksandr Bondarchuk, following a competitive selection process.
The key task of NSSMC in this important process is to immediately resolve the issue of the assets of Freedom Finance Ukraine’s clients, which, unfortunately, have remained blocked on the accounts for quite some time. All actions and tasks will be performed solely in accordance with the requirements of the state sanctions policy.
Follow the news of NSSMC for further actions to resolve the issue of LLC Freedom Finance Ukraine clients
We remind you that in 2022 the National Security and Defense Council imposed sanctions on Freedom Finance Ukraine LLC as a legal entity providing financial services. There have been no such precedents in the financial market in Ukraine. This resulted in a situation where clients’ funds and securities were blocked on the accounts of a Ukrainian legal entity, and the law did not provide for a mechanism for their return.