The NSSMC clarifies some aspects of the market and counteracts the aggressor

The NSSMC has adopted a number of Resolutioms aimed at authorizing certain transactions with the local loan state bonds, banning payments to participants associated with the aggressor country, postponing reporting, and so on. The relevant Resolution was adopted on February 28, 2022.

Thus, the NSSMC allowed investment firms that have the status of a primary dealer to perform operations with government securities on the secondary market, namely military bonds (international code UA4000221436).

The NSSMC also ordered depository institutions to make payments on these government securities, with the exception of transactions in favor of individuals and legal entities belonging to or affiliated with the Russian Federation or the Republic of Belarus.

In addition, the regulator allowed UCITS asset custodians and asset management companies to conduct the following transactions with UCITS assets:

• transfer funds from the assets of the relevant UCITS to the account for assistance to the Armed Forces of Ukraine;
• until the end of wartime to reflect such transactions on the transfer of funds of the NBU without changing the value of the net assets of such UCITS.

The NSSMC clarified to capital market participants the need to submit reporting data within five working days after the end of wartime.

The Resolution shall take effect on the day of its publication on the NSSMC’s official website. Its text can be found at the link.