On February 22, the Verkhovna Rada adopted, in the second reading and in general, bill No. 5865 on reforming the work of financial markets and the Securities Commission. Deputy Alexey Goncharenko wrote about this in his telegram channel.
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What is known
279 people's deputies voted for the corresponding decision.
“The document was voted on for the first time reading was back in 2021. So the work continued for two years. The adoption of this bill is an important condition of the World Bank. Therefore, this is the fulfillment of our European integration obligations,” wrote Goncharenko.
What is proposed by the bill
increasing the institutional capacity of the National Commission for Securities and the Stock Market, expanding its powers, consolidating legislation guaranteeing the independence of the National Securities Market Commission, including financial;
improving legislative norms on international cooperation of the National Securities Market Commission;
building an effective supervisory system in order to prevent abuse in the capital markets and organized commodity markets;
implementation of effective mechanisms to prevent manipulation, insider trading, illegal use of insider information and other abuses in capital markets and organized commodity markets, in particular, banning financial pyramids and combating attempts to organize them.