The leaders of the national Commission on securities and stock market of Ukraine (NSSMC) and self-regulatory organizations (SROs) of professional participants on Thursday started deliberations on the future of stock and commodity market in the country, involving team members of President Vladimir Zelensky: Deputy head of the office of the head of state Alexei Goncharuk, member of the Supervisory Board Ukreximbank under the quota of the President of the Victoria Insurance.
“In the middle of the night. Four hours of continuing tough talk about the future of stock and commodity markets. Players from those markets, the leaders of the SROs, heads of the regulator and representatives of the new government are looking for (and mostly are!) a consensus decision,” wrote of meeting the founder and partner of the investment group “Univer” Taras Kozak on his page in Facebook.
According to posted photos, participate in the discussion, the head of the securities Commission Timur Limp and members of the Commission Dmytro Tarabakin and Maxim Libanov, heads of Professional associations of participants of the capital market and derivatives (PARD) Alex McDermott, the Ukrainian Association of investment business (UAIB) Andrey Rybalchenko and the Association “Ukrainian stock traders” (USTA) Elizabeth Revil.
Also came to the meeting, the head of the exchange Committee Ukrainian energy exchange Alexey Dubovsky, President of AMC “KINTO” Sergei Oksanych, the managing Director of “dragon Capital” Denis Matsuev.
“Everything will be okay!” summed up your post Kozak.
As reported, the Association of stock market participants in the beginning of the week Zelensky wrote an open letter to draw attention to the rapid deterioration of the Ukrainian stock market, caused, in their opinion, the poor level of regulation of the market leadership of the regulator is the securities Commission.
“Association of participants of stock and commodity markets have concluded that in four years, the leadership of NCSSM completely lost the confidence of stock market participants and investors to the actions of the regulator and faith in the reform of the market”, – said the Association.
According to the participants, the securities Commission ignores the national interests of issuers and investors substandard implements European legal principles, and shows only the punitive nature of the regulation and the absence of any dialogue with market participants along with their public defamation, and also has a conflict of interest in activities.
Zelensky SRO ask your Commission to direct the actions of the regulator in stimulating and supporting the development of the stock market, the introduction of new instruments, simplification of business creation, as well as the mandatory involvement of experts and representatives of the market to develop strategy of development of Ukraine’s financial sector up to 2025 and other policy documents. According to the authors of the letter, in the event of failure of such order of the President the focus should be on change management the securities Commission and the formation of the updated controller.