Ukraine: Technical Assistance Report-Regulation of Market Abuse and Issuer Disclosure Requirements

International Monetary Fund

No 2016/242, IMF Staff Country Reports from International Monetary Fund

Abstract: This Technical Assistance report examines regulation of market abuse and issuer disclosure requirements in Ukraine. The Ukrainian regulatory framework for market abuse and issuer disclosure requirements has significant gaps, whose impact is compounded by the National Securities and Stock Market Commission’s (NSSMC) lack of sufficient supervisory, investigative, and enforcement powers. This has contributed to overall lack of transparency and widespread misconduct in the market, including through issuance and trading of “fictitious” securities. To address the current challenges, the Ukrainian legislation needs to be aligned with the international standards to provide the NSSMC with sufficient means to require enhanced disclosures and combat market abuse.

Keywords: ISCR; CR; IOSCO principle; Eu legislation; NSSMC regulation; draft legislation; MAR law; insider dealing; Securities; Securities markets; Securities regulation; Stock markets (search for similar items in EconPapers)
Pages: 38
Date: 2016-07-21
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