The Ukraine National Commission on Securities and Stock Market (NSSMC) has adopted an updated Code of Ethics for its employees, setting out rules of ethical conduct and procedures for managing and preventing conflicts of interest. The Commission framed the update as part of reforms required under the updated Law of Ukraine on State Regulation of Capital Markets and Organized Commodity Markets. The NSSMC described the revised Code as a structural benchmark under the Memorandum on Economic and Financial Policy with the International Monetary Fund, and noted that it was prepared in consultation with World Bank and IMF experts. It also referenced a prior IMF-related structural measure approved at the end of last year, which banned the withdrawal of foreign issuers’ securities from the depository accounting system during martial law from 1 January 2025. The Commission indicated that implementation of the updated Code will take place in the near future.
Ukraine National Commission on Securities and Stock Market 2025-02-28
Ukraine National Commission on Securities and Stock Market adopts updated employee Code of Ethics to strengthen conflict of interest controls
The Ukraine National Commission on Securities and Stock Market has adopted an updated Code of Ethics for its employees, aligning with reforms under the updated Law of Ukraine on State Regulation of Capital Markets. The revised Code, a structural benchmark under the IMF Memorandum on Economic and Financial Policy, was developed with input from the World Bank and IMF. Implementation is expected soon.