The main content and commitments of Ukraine
In accordance with Article 387 of Title V “Economic and Sector Cooperation” of the Association Agreement, Ukraine is obligated to adapt the EU legislation in the sphere of establishment and operation of companies, corporate management, accounting and audit.
Cluster 1 and Cluster 2 of the Sub-Committee on Economic and Other Sector Cooperation of the Association Committee
Responsible bodies in Ukraine
- Ministry of Justice of Ukraine;
- Ministry of Finance of Ukraine;
- National Commission on Securities and Stock Market.
- Development of a new, more advanced financial market infrastructure;
- Further development of financial sector companies and strengthening shareholders rights protection;
- Improvement in the quality of financial services, introduction of new financial products;
- Stabilisation and insurance of the integrity and efficiency of the financial system.
State of adaptation of Ukrainian legislation and cooperation with the EU
The National Commission on Securities and Stock Market developed a comprehensive draft Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine on Disclosure of Information on the Stock Market and Improvement of the Procedure for Issuing Securities and Expansion of Opportunities for Raising Capital" (register No. 5592).
In addition, Verkhovna Rada of Ukraine in the first reading approved the functionalities of capital markets and other regulated markets in Ukraine through a comprehensive settlement of the functioning of derivative securities and derivatives markets, as well as legislative regulation of the infrastructure of regulated markets:
- the draft Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine (Regarding Regulated Markets and Derivatives)" (register No. 3498);
- the draft Law of Ukraine "On Amendments to Tax Code of Ukraine (Regarding Regulated Markets and Derivatives)" (register No. 3499);
- the draft Law of Ukraine "On Amendments to the Budget Code of Ukraine (Regarding Regulated Markets and Derivatives)" (register No. 3500);
- the draft Law of Ukraine "On Amendments to the Customs Code of Ukraine (Regarding Regulated Markets and Derivatives)" (register No. 3516);
- the draft Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine Concerning the Consolidation of State Regulation Functions of Financial Services Markets" (registration No. 2413).
The National Bank of Ukraine in the II quarter of 2017 provided:
- implementation of projects: EU-FINSTAR (European Commission), Transformation of the financial sector in Ukraine (USAID), International partnership for the stability of the financial sector (USAID), Support for reform of the financial sector in Ukraine (EBRD), Canada / IMF Project, as well as attraction of the technical assistance from the central banks of Poland, Sweden, the Netherlands, Germany and donor organisations (GIZ, DFID) to support the implementation of the priorities of the National Bank;
- carrying out training activities to study international and European experience in the approximation of the financial services sector with the international standards of regulation and supervision;
- effective cooperation with international organisations and donors, in particular with the IMF and the World Bank.