The Ukraine National Commission on Securities and Stock Market participated in a panel discussion on corporate governance in Ukraine, covering the practical implementation of Law No. 3587-IX and OECD principles in state-owned companies, including the limits of the owner’s powers and the independence of supervisory boards under martial law. The discussion also noted that corporate governance reporting will be introduced for the first time in 2026, with a corporate governance report to be filed as part of a joint stock company’s annual report by 30 April 2026 based on 2025 results. NSSMC member Maksym Libanov described 2024 legislative changes as the foundation for corporate governance reform but pointed to incomplete implementation in practice, including cases where state-owned companies have not received “expectation sheets” from the state, creating a governance vacuum for supervisory boards. Participants concluded that maintaining institutional stability in strategic enterprises requires balancing operational manageability of state assets with transparent corporate governance and ensuring supervisory board independence.
Ukraine National Commission on Securities and Stock Market 2026-02-12
Ukraine National Commission on Securities and Stock Market highlights corporate governance reform implementation gaps and first corporate governance reports due 30 April 2026
The Ukraine National Commission on Securities and Stock Market discussed corporate governance, focusing on Law No. 3587-IX and OECD principles in state-owned companies, with governance reporting to be introduced in 2026. NSSMC member Maksym Libanov highlighted 2024 legislative changes as foundational but noted incomplete implementation, emphasizing the need to balance state asset management with transparent governance and supervisory board independence.