The Ukraine National Commission on Securities and Stock Market published a review of 40 regulatory decisions adopted in the second quarter of 2026 to refine capital market rules. The package focused on simplifying selected procedures for businesses, increasing transparency for market participants, strengthening investor protection and adapting parts of the framework to martial law conditions. The largest group of decisions addressed market functioning during martial law. The Commission clarified procedures for certain securities transactions so investors can continue to invest and companies can continue to raise funding, including transactions involving sovereign external debt bonds, conversion of corporate bonds and public offerings of securities. It also updated disclosure rules by defining more clearly when companies may delay publication of inside information if immediate disclosure could harm legitimate interests, while clarifying what issuers must disclose in all cases. In addition, it approved a new procedure for issuing domestic local loan bonds, updated reporting rules for depository institutions and investment firms, and refined licensing rules for professional activity in the capital markets. The Commission said further changes are in preparation. After public discussion, it plans to approve new software requirements for professional market participants and updated rules for collective investment institutions, non-state pension funds and other capital market participants. A separate set of planned decisions would impose requirements for investment recommendations, strengthen mechanisms to detect insider dealing and price manipulation, and set the procedure for company share buybacks.

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