The Ukraine National Commission on Securities and Stock Market reported that its Chair, Oleksii Semeniuk, held a working meeting with the President of PARD, a leading association of professional securities market participants, to discuss capital market development and joint preparation of reform proposals intended to activate market processes. Semeniuk framed the objective as building practical “synergy” between the regulator and market participants rather than a formal dialogue. Discussions covered the outlook for municipal bonds, including ways to further stimulate retail participation in municipal capital market instruments given strong public interest in domestic government bonds, as well as pension system development and its implications for capital markets. The parties also addressed investor protection, noting that the association is taking on additional functions aimed at improving the security and transparency of transactions for clients of market participants. Following the meeting, both sides confirmed their intention to maintain an open dialogue, exchange views and working materials, and cooperate on implementing reforms to strengthen activity and trust in Ukraine’s securities market.