The Ukraine National Commission on Securities and Stock Market took part in presenting a joint study on corruption risks in residential property investment funded by individuals and corporates, prepared with the National Agency on Corruption Prevention and supported by the Organization for Security and Co-operation in Europe. The Commission endorsed the findings as a roadmap for reforms aimed at strengthening investor protection and supervisory coverage in housing-related financing. The study and discussion highlighted gaps the Commission sees as hindering effective protection of citizens’ rights, including a legislative imbalance introduced by 2022 changes that allow developers to raise funds directly without corresponding control and supervision, insufficient entry and conduct requirements for developers, and unclear boundaries between supervisory bodies’ powers that can create accountability gaps when a developer is replaced or land use changes. The Commission also backed integrating data through a single digital link between its registers and the State Inspectorate for Architecture and Urban Planning of Ukraine (DIAM) to automatically track investor cash flows against actual construction progress. It reported work under way to strengthen the responsibility of managers of FFB and FON structures, including enhanced disclosure about potential affiliations with developers, alongside deeper coordination with DIAM to support end-to-end oversight from land allocation and issuance of financial instruments through commissioning and transfer of housing to investors.
Ukraine National Commission on Securities and Stock Market 2026-03-31
Ukraine National Commission on Securities and Stock Market maps reforms to improve transparency in housing investment and link registers with DIAM
The Ukraine National Commission on Securities and Stock Market joined the presentation of a study on corruption risks in residential property investment and endorsed its use as a roadmap to strengthen investor protection and supervision in housing finance. The study highlighted gaps from 2022 legislative changes that let developers raise funds directly without adequate oversight, weak requirements for developers, and unclear supervisory powers. The Commission also backed integrating its registers with those of the State Inspectorate for Architecture and Urban Planning to track investor cash flows versus construction progress and is reinforcing responsibilities and disclosure rules for managers of FFB and FON structures.