The National Securities and Stock Market Commission of Ukraine supported proposed legislation establishing an out of court mechanism for consumer disputes in capital and organized commodity markets. It also called for its oversight powers to be expressly incorporated into sectoral law and recommended aligning derivatives terminology across tax and capital markets legislation. Under bill No. 16029, consumers could refer disputes with service providers to designated dispute resolution bodies instead of going directly to court. The Commission would appoint those bodies, maintain their register and handle complaints about their activities. Because the bill does not amend the law defining the Commission’s statutory authority, the regulator proposed adding a provision that explicitly assigns it these functions. The Commission also supported the main provisions of bill No. 16036, which would amend Ukraine’s Tax Code as part of alignment with European Union law. It identified an inconsistency between the Tax Code’s definition of derivatives and the definition of derivative contracts in capital markets legislation, and called for harmonized terminology to prevent differing interpretations.
National Securities and Stock Market Commission of Ukraine backs out of court consumer dispute framework and seeks explicit oversight powers
The National Securities and Stock Market Commission of Ukraine backed legislation allowing capital markets consumers to resolve disputes through designated bodies without going directly to court. It proposed explicitly adding its appointment, registration and complaints oversight powers to sectoral law. The Commission also called for consistent derivatives terminology across tax and capital markets legislation.