The Ukraine National Commission on Securities and Stock Market (NSSMC) adopted a package of rule-making, supervisory and registration and licensing decisions, including approving regulations for administering non-state pension funds and rules for open competitive selection for NSSMC authorised persons. The NSSMC also updated its 2026 rule-making plan and approved its analytical report on the Commission’s work and on capital and organised commodity markets for the fourth quarter of 2025. Rule-making actions included approving NSSMC certificates on the draft Labor Code of Ukraine (registration No. 14386) and the draft Civil Code of Ukraine (Private Law Code) (registration Nos. 14394, 14394-1 and 14394-2), considering a draft Cabinet of Ministers strategy for financial investigations through 2028 with an operational action plan, and approving draft Cabinet orders on EU-linked personal sanctions proposals and on management of assets seized in criminal proceedings in exceptional cases. Supervisory actions included changes to the list of assets, including client/depositor funds, of FREEDOM FINANCE UKRAINE LLC subject to an “asset blocking” sanction. On market entry and issuer actions, the NSSMC registered results of bond issues by TRADING HOUSE GALKA LLC (series B, without a public offer) and SIROKO FINANCE LLC (series B), and registered share issues (without a public offering) by CENTRAVIS PRODUCTION UKRAINE PJSC, TRANSITION BANK PJSC, UTE BANK and SUMYRIBHOSP PJSC. It excluded CREDIT-RATING LLC (renamed KONSKOMDIA LLC) from the Register of Authorized Rating Agencies, excluded the OPEN NON-STATE PENSION FUND GOLDEN AGE from the register of non-state pension funds, and cancelled registrations and related prospectuses for investment certificates of ZNVPIF T-FINANCE (AMC and APF SYNTAX-INVEST LLC), ZNVPIF FINVEST (AMC IQ – TECHNOLOGY LLC) and ZNVPIF PRIVATE INVESTMENTS (AMC SWAP LLC). Other decisions included approvals linked to the formation and registration of multiple JSC ZNVCIF share issues and prospectuses, agreement to an intended acquisition of significant participation in AMC GRUNWALD ASSET MANAGEMENT LLC, approvals of a range of compliance, risk, internal audit and financial monitoring appointments at professional market participants, confirmation that UPR-FINANCE LLC, AMC GRUNWALD ASSET MANAGEMENT LLC, FC DELTA LLC, AMC UNIVER MANAGEMENT LLC, UNIVER CAPITAL LLC, INVINTUM LLC, AMC CLOVER CAPITAL LLC, PJSC FB PERSPEKTIVA, BTS BROKER LLC and ADAMANT SECURITIES LLC met criteria set by Cabinet of Ministers Resolution No. 76, and a finding that FC FINBUD LLC did not meet those criteria with revocation of its status as a critical enterprise.
Ukraine National Commission on Securities and Stock Market 2026-02-18
Ukraine National Commission on Securities and Stock Market approves non-state pension fund administration rules and updates Freedom Finance Ukraine asset blocking list
The Ukraine National Commission on Securities and Stock Market (NSSMC) adopted regulatory, supervisory, and licensing decisions, including regulations for non-state pension funds and updates to its 2026 rule-making plan. Key actions involved approving draft codes, strategies for financial investigations, EU-linked sanctions proposals, and asset blocking sanctions on FREEDOM FINANCE UKRAINE LLC. The NSSMC also registered bond and share issues, made changes to authorized entities, and confirmed compliance and risk management appointments at several market participants.