The Ukraine National Commission on Securities and Stock Market has updated the process for approving employees appointed to senior and other responsible positions at professional participants in the capital markets and organized commodity markets, excluding banks. The main change is that candidates will now have to pass mandatory testing, with an independent testing center to operate on the basis of the Agency for Development of Infrastructure of the Stock Market of Ukraine. The tests will cover four areas: core knowledge of economics and finance, ethical standards for activity in the capital markets, specialized legislation, and practical skills and abilities. The Commission may also invite selected candidates who pass the tests to an interview, where it will assess practical experience, the ability to identify risks and make decisions in non-standard situations, and other circumstances relevant to business reputation. The new rules apply to managers, members of management bodies, internal auditors, compliance and risk managers, and staff responsible for financial monitoring, with separate provisions for those serving in an acting capacity. The Commission also set out more detailed grounds for selective review of already approved staff and may revoke its approval if doubts arise about a person's integrity or business reputation.

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