Ukraine plans to simplify securities issuance procedures
A draft law No. 15336 has been registered in the Verkhovna Rada, which provides for the simplification and improvement of securities issuance procedures.
As explained by the Verkhovna Rada Committee on Finance, Tax and Customs Policy, the document proposes to transfer some powers for registering the issuance of shares in private placements from the National Securities and Stock Market Commission to the Central Depository.
The draft law also provides for the simplification of related corporate procedures.
The proposed mechanism will apply in cases where shares are placed among a predetermined circle of investors, and the number of non-qualified investors does not exceed 150 persons.
Essentially, this concerns a revision of the current model of interaction between issuers, state authorities, and capital market infrastructure during private placements of shares.
The committee emphasizes that the main goal of the initiative is not the redistribution of powers, but a change in approaches to organizing certain procedures in the capital market.
The draft law is being prepared for consideration by the committee, after which it is expected to be submitted for a vote in the Verkhovna Rada plenary session.
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