The NSSMC amended the Regulation on the implementation of financial monitoring of professional participants

At the meeting on September 15, 2021, the NSSMC approved a draft amendments to the Regulation on the Implementation of Financial Monitoring by Primary Financial Monitoring Entities, state regulation and supervision of which carries out the NSSMC by its Resolution.

In particular, the amendments concern the separate verification of clients in electronic mode with the help of modern databases, electronic documents and media. Currently, a number of errors in carrying out the procedure itself have been eliminated. Verification can also be carried out using the state portal of services “Diia”.

In addition, it is now possible to carry out the identification of trader’s client in the clearing house on the basis of obtaining information/data from organized market operators to open a securities account remotely.

“The amendmends developed by the NSSMC greatly simplify most procedures through the use of modern information technology. We hope that our initiatives will be effective and simple for capital market participants in practice”, – Yurii Shapoval, the Commissioner, said.

The draft was developed in accordance with the requirements of the Law of Ukraine on State Regulation of Capital Markets and Organized Commodity Markets in connection with the adoption of the Law of Ukraine dated 19.06.2020 №738-IX on Amendments to Certain Legislative Acts of Ukraine to Facilitating the Attraction of Investments and Introduce New Financial Instruments.

The document will be published on the NSSMC’s official website soon.