Licenses of some professional participants will be renewed automatically

At the meeting on June 23, 2021, the NSSMC approved its Resolution that brings professional activity in the capital markets and organized commodity markets to the applicable law.

The document is developed to meet the requirements of paragraph 18 of section XIII of the Law of Ukraine on Capital Markets and Organized Commodity Markets in order to ensure compliance with the requirements of paragraphs 10 and 12 of this section.

In particular, there was established the procedure for automatic renewal of licenses to carry out activities, particulalry on trade in financial instruments, on the organization of trade in financial instruments and clearing activities. This also applies to certificates issued by the NSSMC for the relevant documents on capital market activities.

Securities traders (investment firms) who intend to provide additional services within the professional activity of trading in financial instruments, as well as to receive and dispose funds and financial instruments of clients, should submit relevant information to the NSSMC by 30.09.2021.

The document also stipulates that licensees whose licenses are considered to be renewed should  submit copies of internal documents to the regulator by June 30, 2022, confirming that their activities have been brought into compliance with the requirements of the Law.