Ukraine's National Securities and Stock Market Commission reported that parliament approved the investment funds bill, No. 16137, at first reading, following the parliamentary finance committee's earlier endorsement. The proposal would overhaul rules for fund operations and asset management, strengthen transparency and disclosure requirements, and enhance investor protection.

The bill would establish a legal framework for venture capital, real estate, social entrepreneurship and long term investment funds. These changes would broaden businesses' options for raising capital and provide a legal basis for integration into the European financial area. Developed jointly by the commission, parliament's Committee on Finance, Tax and Customs Policy and the World Bank, the bill will next undergo revision and preparation for a second reading.

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