Ukraine National Commission on Securities and Stock Market sets up a temporary professional suitability control commission for market participant officials

The Ukraine National Commission on Securities and Stock Market (NSSMC) has decided to establish a separate Commission to control the professional suitability of officials at professional participants in the capital markets and organized commodity markets. The new body will verify compliance of company managers, internal control system officials, and persons responsible for financial monitoring, with checks conducted through interviews. The measure is temporary and will apply until the NSSMC’s regulations are amended; during this transition period, professional suitability for financial monitoring officers will be treated as confirmed where a mandatory certification document is available. The NSSMC plans to develop a separate document to regulate the procedure on an ongoing basis once the regulatory framework is updated.