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Ministry of Justice of Ukraine

December 30, 2020

No. 1330/35613

DECISION OF THE NATIONAL COMMISSION ON SECURITIES AND STOCK MARKET OF UKRAINE

of November 24, 2020 No. 708

About approval of the Procedure for conducting checks in the sphere of professional activity in the stock market (security market) and activities in system of accumulative provision of pensions

According to Item 13 of article 8 of the Law of Ukraine "About state regulation of the security market in Ukraine" and to Item 14 of the Section II "Final provisions" of the Law of Ukraine of September 12, 2019 No. 79-IX "About modification of some legal acts of Ukraine concerning enhancement of functions on state regulation of the markets of financial services" the National commission on securities and the stock market RESHILA:

1. Approve the Procedure for conducting checks in the sphere of professional activity in the stock market (security market) and activities in system of accumulative provision of pensions which is applied.

2. Recognize invalid:

the decision of the National commission on securities and the stock market of February 12, 2013 No. 161 "About approval of the Procedure for conducting checks of observance of requirements of the legislation on securities of rather professional activity in the stock market and activities of the self-regulating organizations of professional participants of the stock market", registered in the Ministry of Justice of Ukraine on March 06, 2013 for No. 377/22909;

the decision of the National commission on securities and the stock market of June 22, 2017 No. 461 "About approval of document forms for implementation by the National commission on securities and the stock market of planned (unplanned) action of the state supervision (control) in the stock market (security market)", registered in the Ministry of Justice of Ukraine on July 19, 2017 for No. 874/30742;

the decision of the National commission on securities and the stock market of August 29, 2019 No. 469 "About approval of the unified form of the Statement which is drawn up by results of holding planned (unplanned) action of the state supervision (control) for observance by the subject of managing of requirements of licensed conditions in the sphere of implementation of professional activity in the stock market (security market)", registered in the Ministry of Justice of Ukraine on September 19, 2019 for No. 1046/34017.

3. To provide to department of financial monitoring and conducting inspections:

submission of this decision on state registration in the Ministry of Justice of Ukraine;

promulgation of this decision on the official website of the National commission on securities and the stock market.

4. This decision becomes effective from the date of its official publication.

5. Control over the implementation of this decision to assign to members of the National commission on securities and the stock market of Tarabakin D. and Panchenko And.

Commission chairman

T. Hromayev

 

It is approved:

Deputy minister of digital transformation of Ukraine

 

L. Rabchinskaya

Approved by the Decision of the National commission on securities and the stock market of Ukraine of November 24, 2020, No. 708

Procedure for conducting checks in the sphere of professional activity in the stock market (security market) and activities in system of accumulative provision of pensions

I. General provisions

1. This Procedure establishes the single mechanism of implementation by the National commission on securities and the stock market of control in the sphere of professional activity in the stock market (security market) and activities in system of accumulative provision of pensions by carrying out exit scheduled and unscheduled inspections (inspections).

Subjects of check are:

the professional participants of the stock market (security market) and subjects of system of accumulative provision of pensions (except investors and participants) having the corresponding licenses for implementation of professional activity in the stock market and activities in system of accumulative provision of pensions (further - licensees);

Central Securities Depository;

Central Securities Depository;

legal entities whose effective period of the license expired or the license of which for implementation of certain types of professional activity in the stock market are cancelled;

self-regulatory organizations of professional participants of the stock market (further - SRO).

Checks of legal entities which effective period of the license expired or the license of which for implementation of certain types of professional activity in the stock market are cancelled, NKTsBFR concerning condition of observance of the requirements of the legislation provided on case of the termination of effective period or cancellation of the license by them are performed. Such inspection can be carried out by NKTsBFR no more than within three years from the date of the end of action (cancellation) of the specified license.

The venue of check is the room of the subject of check on its location (the temporary location about which the licensee reported to NKTsBFR) and premises of NKTsBFR.

Subjects of checks who are members of financial group can be subject to checks on the consolidated basis.

2. In this Procedure terms are used in such value:

exit check - scheduled or unscheduled inspection of activities of the subject of check which is carried out by NKTsBFR with departure on the location (the temporary location about which the licensee reported to NKTsBFR) and in NKTsBFR;

scheduled inspection - the complex check of activities of the subject of check planned by NKTsBFR which is carried out by NKTsBFR based on the scheduled plan of conducting planned inspections;

unscheduled inspection - unplanned NKTsBFR thematic check on single questions of activities of the subject of check;

operating structural unit of NKTsBFR - structural division to which functions on the organization and conducting checks are assigned.

Other terms in this Procedure are used in the values given in legal acts of Ukraine and regulatory legal acts NKTsBFR.

3. Check is performed on purpose:

1) clarifications of the purpose and essence of transactions which are performed by licensees, Central Securities Depository;

2) identifications of risks which can pose threat for safety and stability of activities of licensees, Central Securities Depository, and also stability of financial system of Ukraine;

3) quality evaluations of risk management system of licensees, Central Securities Depository;

4) checks of observance by licensees, Central Securities Depository of the rights of clients (depositors, consumers of financial services, investors, participants);

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