Ukraine National Commission on Securities and Stock Market outlines phased plan for Freedom Finance Ukraine clients including unified database, audit and sanctions screening

The Ukraine National Commission on Securities and Stock Market held an in-person meeting with representatives of an initiative group of Freedom Finance Ukraine LLC clients as part of its ongoing work to address issues affecting the firm’s clients. The Commission used the session to update clients on the status of legal and supervisory processes and on its planned approach to inspections and identifying clients who are not subject to sanctions. Commission members discussed issues related to OZDP holdings and participation in restructuring, and addressed clients’ questions. The Commission also pointed to a previously approved document published for discussion that would create a single database of clients and their assets, described as a fundamental stage in the process. Next steps set out by the regulator include approving an audit document and approving the list of clients not subject to sanctions, followed by adoption of an act setting the procedure for clients and professional market participants to receive funds and securities.