PFTS fulfils the terms of the Agreement with the NSSMC and retains its licences

Thanks to the successful implementation of the new legislation and the NSSMC’s desire to create flexible market conditions, we have another successful case.

As you know, in July last year, the National Securities and Stock Market Commission (NSSMC) and PFTS Stock Exchange JSC entered into an Agreement that enabled the exchange to resolve the consequences of the offence. This involved bringing prudential indicators in line with regulatory requirements.

The organisation has fulfilled all the terms of the Agreement within the specified timeframe, and the NSSMC has already received supporting documents. Thus, the oldest stock exchange in Ukraine continues to operate.

The conclusion of such an Agreement with the offender became possible thanks to the Law of Ukraine on State Regulation of Capital Markets and Organised Commodity Markets, which was signed by the President in March 2024.

The law as a whole launched a large-scale transformation of the NSSMC. In particular, the Regulator’s Office was established, which made it possible to attract qualified personnel and improve their performance. The institution of a «temporary manager» was also introduced, which allowed the NSSMC to start solving the problems of LLC Freedom Finance Ukraine clients. And a number of other tools for the effective development of capital markets and the creation of clear rules on it.

«We, as a regulator, are transforming and striving to create flexible conditions in the market. Today, we have a solid legislative framework that allows us to address issues in an innovative, professional and high-quality manner. The case of PFTS is an example of this and another reminder of the importance of compliance with the law for all participants without exception», said Ruslan Magomedov, Chairman of the NSSMC.

The NSSMC welcomes the implementation of the agreement and is pleased that the exchange and the regulator were able to go through this process in a professional and compromise manner.