Ukraine National Commission on Securities and Stock Market approves revised share issuance rules and takes registration, licensing and sanctions-related actions

The Ukraine National Commission on Securities and Stock Market (NSSMC) approved a revised draft decision amending the regulation on share issuance, registration and cancellation of share issues, and adopted a package of supervisory and authorisation decisions covering sanctioned assets, securities registrations and professional licences. Supervisory measures included changes to the list of assets, including funds belonging to clients and depositors of Freedom Finance Ukraine LLC, which is subject to asset blocking sanctions. On registration and licensing matters, the NSSMC approved several prospectus appendices for NovaPay Credit LLC corporate bonds (series L, D, E, J and B), refused registration of the share issue of Express Invest JSC and the issue of PJSC Fitopharm bonds (series Zh and Z), and registered the share issue of PJSC Odesavinprom without a public offer. It denied FC Global Capital LLC a licence for professional activities in the capital markets for property management of financing construction objects and or real estate transactions, while registering the collective investment share issues and prospectuses of JSC ZNVCIF Viet, JSC ZNVCIF Tokuma and JSC ZNVCIF Sorano. Rule-making actions also included amendments to NSSMC Decision No. 1067 of 5 August 2022, approval of a draft Cabinet of Ministers order on proposals for personal sanctions, approval of the Commission’s certificate on draft Civil Code amendments (bill No. 14057 dated 21.09.2025), and consideration of a draft Cabinet order on exceptional-case management of assets seized in criminal proceedings.