The Ukraine National Commission on Securities and Stock Market, together with the National Depository of Ukraine, presented a concept for a new model to register share issues through the Central Depository, aiming to simplify and digitise the process and shorten registration timelines. The proposal would delegate primary registration of defined non-public share issues to the Central Depository under a one-stop, fully digital and more notification-based process using standardised documents, while the Commission concentrates on an ex post, risk-oriented supervisory role. The initial scope would cover the simplest cases, including establishing private joint-stock companies with a predetermined investor group (with fewer than 150 non-qualified investors and cash-only payment) and increases in charter capital funded from profit or additional capital. Registration in all other cases would remain with the Commission, with the Central Depository transmitting information on registered issues for inclusion in the State Register of Securities Issues. The Commission indicated that implementing the model requires legislative changes and technical preparation, and that under an optimistic scenario it could become operational in 2027.
Ukraine National Commission on Securities and Stock Market 2026-04-28
Ukraine National Commission on Securities and Stock Market unveils plan to shift registration of certain non-public share issues to the Central Depository
The Ukraine National Commission on Securities and Stock Market and the National Depository of Ukraine have presented a concept for a new model to register certain non-public share issues through the Central Depository to simplify and accelerate the process. The Central Depository would handle primary registration for defined simple cases under a one-stop, fully digital, notification-based process, while the Commission would focus on ex post, risk-based supervision and retain registration for all other cases. The Commission noted that the model requires legislative and technical changes and could become operational in 2027.