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IMF mission launches inspection of Ukraine’s capital market transparency

January 12, 16:36 UTC+3 KIEV
According to NSSMC, this kind of cooperation with the IMF "is a background for creation of a full-fledged capital market with international standards of regulation"
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© EPA/JIM LO SCALZO, Archive

KIEV, January 12. /TASS/. The mission of experts' technical aid of the International Monetary Fund (IMF) has launched its work at Ukraine’s National Securities and Stock Market Commission (NSSMC), a representative of the commission’s press service said on Tuesday.

"NSSMC announced the beginning of the work of the IMF experts’ technical aid, which will be finalized on January 22, 2016," the press service said.

The plan is to "discuss issues of raising requirements to unveiling information on capital market and transparency of activity of market participants, improvement of the order of securities issue, sanctions for violations on capital market, including use of insider information and price-gouging" within 2 weeks. "Also, the issue of enhancing the system of regulation and supervision of Ukraine’s capital market, reinforcement of the regulator’s authorities and change of its financing model will be considered within the mission’s work," the commission said.

According to NSSMC, this kind of cooperation with the IMF "is a background for creation of a full-fledged capital market with international standards of regulation."

Earlier in the period of July 13-27, 2015 international experts inspected the commission’s operational and financial sufficiency as well as its authorities in the fields of law enforcement and international cooperation. Based on this experience the International Monetary Fund developed recommendations regarding changes needed for strengthening eligibility of Ukraine’s legal framework with the aims and regulatory principles of International Organization of Securities Commissions (IOSCO) in securities’ sector.

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