The National Securities and Stock Market Commission of Ukraine has approved requirements governing which business functions may be outsourced, who may provide the services and the standards providers must meet. Companies may outsource compliance, risk management, internal audit, accounting, IT support and the maintenance of software and information systems. Professional market participants may also outsource the handling of third-party inquiries. Providers may be Ukrainian or foreign legal entities or individuals, but they must have sufficient resources, qualified personnel and an acceptable business reputation. Outsourcing does not transfer responsibility: the company remains accountable to clients and the Commission for the final outcome. The framework is intended to align Ukrainian legislation more closely with European Union standards while allowing companies to reduce costs without compromising investor interests.