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Decrees of the President "On the National Commission on Securities and Stock Market" and “On the liquidation of the State Commission on Securities and Stock Market” dated 23 November 2011 were published on his official website on 28 November 2011.
According to the Regulations on the NCSSM, it is a state collective body, subordinated to the President and accountable to the Parliament, the main function of which is the state regulation of security market.
As a collective body the NCSSM shall consist of a Chairman and six members shall be appointed for six year term and dismissed by the President of Ukraine.
The
State Commission for Securities and Stock Market has amended the Rules for
trading securities.
The regulation covers general requirements to agreements, requirements for
dealer agreements, for brokerage services agreement, requirements for single
order as well as for commission and subcommission agreements.
In addition, it contains requirements for engagement and underwriting agreements, organization of trader internal accounting, and also verification procedure of availability of funds, securities and other financial instruments, reporting of traders to customers and so on.
The President has signed the Law "On Amendments to the Law" On the Antimonopoly Committee of Ukraine "(concerning optimization of composition).
The law reduces the number of members of the AMC. Thus, the number of state commissioners has been reduced from ten to eight and the number of deputies of the Chairman has been reduced to 2 (first deputy and deputy). It should be noted that the President was given the right to institute the position of the deputy of the Chairman additionally if necessary to ensure the implementation of individual tasks.
