Ukraine National Commission on Securities and Stock Market approved a draft Regulation updating the procedure for issuing and circulating real estate transaction fund (FON) certificates, aiming to align the framework with the Commission’s requirements for registering financial instrument issues. The draft covers registration of an issuance and prospectus, amendments to issuance decisions, reporting on issuance results, cancellation of issuance registration, and the redemption and conversion of FON certificates. Key proposed changes include shifting submissions and communications to electronic workflows through issuers’ personal accounts in the CIS using electronic signatures, introducing a mechanism for leaving documents “without movement”, and requiring issuers to file financial and audit statements in a single XBRL format via the Financial Reporting Collection Center. When applying to register an issuance and prospectus, issuers would also need to complete an issuer questionnaire in the CIS to support formation of a temporary global certificate or global certificate. Public discussion of the draft runs until October 28, 2025.
Ukraine National Commission on Securities and Stock Market 2025-09-30
Ukraine National Commission on Securities and Stock Market approves draft regulation to digitise issuance and circulation of real estate transaction fund certificates
The Ukraine National Commission on Securities and Stock Market approved a draft regulation updating real estate transaction fund certificate procedures to align with financial instrument registration requirements. Key changes include electronic workflows, a document handling mechanism, and mandating financial and audit statements in XBRL format. Issuers must complete a questionnaire in the Commission's information system for certificate registration.