The NSSMC together with the market participants fully regulated the activity of investment companies

The NSSMC (National Securities and Stock Market Commission) has developed a set of documents that fully regulate the activity of investment companies. We are talking about licensing, contractual requirements and securities trading activities. The Commissioners made the relevant resolutions at their meeting on December 24, 2021.

“It’s a whole set of documents that fit the times and correlate accurately with each other. The market participants have been waiting for them for a long time and have significantly contributed in the process of preparation. Together we have adapted the European norms and principles to Ukrainian realities as much as possible and hope that the pool of regulations will give investment companies more clarity and convenience in their work,” Yaroslav Shliakhov, the Commissioner commented.

Among the resolutions adopted by the Regulator are on:

– approval of the License Conditions for conducting the professional activity in the capital markets – financial instruments trading activity”:

– amendments to the Requirements for Contracts concluded during the professional activity in the stock market (securities market) – securities trading activity: brokerage, dealership, underwriting, securities management:

– amendments to the Requirements (Rules) for the implementation of securities trading activity: brokerage, dealership, underwriting, securities management.

The regulator’s specialists have updated the license requirements and requirements for work for all areas of trade in the capital market – sub-brockerage, brokerage, dealership, financial instruments portfolio management activity by these documents; investment consulting, underwriting and/or placement with the submission of guarantee, placement activity without the submission of guarantee.

“It is important that the full range of issues was settled: organizational and operational requirements, requirements for the amount of the initial and equity capital of the applicant and licensee, as well as the procedure for its determination, qualification requirements for employees, technical and software,  disclosure of information by the licensee, the order for submission of documents, etc.,” the Commissioner adds. “When preparing the documents, we focused on the maximum balance for the State and business, on the one hand, for simplifying the access to the market, on the other hand, for ensuring the adequate capital and investment requirements.”

These documents are now available on the website of the NSSMC for public discussion.