YouControl begins cooperation with the NSSMC

YouControl and the NSSMC agreed on a partnership to strengthen the economic legal order in Ukraine.

On September 25, 2020, YouControl and the National Securities and Stock Market Commission signed a Memorandum of cooperation.  The main purpose of the NSSMC is to create conditions for the proper and efficient functioning of the securities market, to provide money capital for the needs of the country’s economy, to create conditions for the establishment of powerful domestic investors and to ensure the protection of investors’ rights. Also, in accordance with the Law of Ukraine on Prevention and Counteraction to Money Laundering, Financing of Terrorism and Proliferation of Weapons of Mass Destruction dated 06.12.2019 №361-IX, since July 1, 2020 the NSSMC is a regulator in the system of  accumulative pension provision, regulation and supervision of the functioning of financial and credit mechanisms and property management in housing construction and real estate transactions.

The parties agreed to cooperate in order to exchange experiences and, above all, to increase the transparency of the business environment in Ukraine and to reduce the level of fraud. Also it will be an important step in expanding the range of information technologies that government agencies use in their work.

“The NSSMC is a critical body for Ukraine’s economic security.  Cooperation with it will allow us to contribute to the fact that as many domestic businesses as possible work honestly and without the “temptation” to use their income illegally.  We hope that in the result of cooperation we will be able to help the market reach the level of global understanding of compliance and financial monitoring provisions”, – Serhiy Milman, the founder and CEO of YouControl assured.

The company’s experts will share their expertise with the staff of the NSSMC during the exercises, round tables and working groups.  In addition, it is planned joint preparation of research and analytical materials.  For its part, the NSSMC will prepare recommendations for improving the YouControl system in those areas where it can be useful in combating economic crime.

“We are pleased to start cooperation with YouControl and hope that by joint efforts we will create a transparent information environment that will serve to increase the openness of the Ukrainian capital market.  After all, this is the basis of a full-fledged and developed market, which provides adequate protection for investors”, – Tymur Khromaev, Chairman of the NSSMC said.

Reference

YouControl is an analytical system based on open data, which forms a complete dossier for each company in Ukraine, tracks changes and visualizes connections among more than 100 sources.  It provides information about EU, UK companies.  The unique YouControl technology allows to get up-to-date information about a company, sole proprietorship or individual in a minute.