Ukraine National Commission on Securities and Stock Market approves EU law alignment plan covering 187 acts and 22 capital markets bills

The Ukraine National Commission on Securities and Stock Market has approved an action plan to implement the National Programme for adapting Ukrainian legislation to European Union law in areas where the Commission is the lead or co-executor. In practice, the plan sets the workstreams and timelines for bringing Ukraine’s capital markets framework closer to EU rules through new legislation and regulatory acts. The plan calls for the preparation of draft laws and secondary regulation needed to implement EU standards in capital markets. The Commission is tasked with aligning 187 legal and regulatory acts with EU rules and preparing 22 draft laws. The main areas include corporate governance and shareholder rights, capital markets regulation, prudential supervision of investment firms, the creation of an investor compensation system, electronic reporting and market transparency, and updates to rules on financial services, pension provision, professional capital markets participants, and disclosure. According to the Commission, implementation of the plan is intended to support further convergence of Ukraine’s capital markets regulation with European rules and fulfil Ukraine’s obligations under the European integration process.