BaFin and NSSMC continue to work closely together: Joint webinar held

As part of the partnership between the Federal Financial Supervisory Authority (BaFin) and National Securities and Stock Market Commission (NSSMC), a webinar was held to discuss the German experience in the country’s recovery, the importance of capital markets in the reconstruction, and issues related to Ukraine’s recovery.

In June this year, NSSMC’s delegation visited BaFin and other relevant institutions in Frankfurt for the first time. Following this visit, NSSMC representatives expressed their desire to discuss in more detail the issues related to recovery and reconstruction in the context of the legislation regulating capital markets.

During the webinar, participants from NSSMC and representatives of all regional state administrations of Ukraine had the opportunity to receive information from experts from the KfW. This institution was founded in 1948 in Germany to rebuild after the Second World War, and today it is one of the leading development banks around the world. KfW has strong expertise and many years of experience with a wide variety of business projects and initiatives.

«I am pleased that BaFin can also contribute to the complex topic of rehabilitation in addition to its own expertise», said Thomas Schmitz-Lippert, Head of International Relations at BaFin.

«I am grateful to my colleagues from BaFin for their support and expertise, which we use to implement the best European practices in the capital markets», said Ruslan Magomedov, NSSMC Chairman.

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As part of the administrative partnership, BaFin is supporting the Ukrainian securities regulator in adopting European legislation, the so-called acquis communautaire.

Bilateral administrative partnerships were initiated by the Federal Ministry of Economics and Climate Protection. The aim is to support the exchange of expertise between German and foreign authorities and to modernise administrative structures. Today’s event was supported by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ).