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Ministry of Justice of Ukraine

April 6, 2021

No. 455/36077

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

of February 2, 2021 No. 61

About approval of Licensed conditions of implementation of separate types of professional activity in the stock market

According to Articles 3, 4, to Item 13 of article 8 of the Law of Ukraine "About state regulation of the security market in Ukraine", to Articles 16, 27, 27-1 Law of Ukraine "About securities and the stock market" the National commission on securities and the stock market RESHILA:

1. Approve Licensed conditions of implementation of separate types of professional activity in the stock market (further - Licensed conditions) which are applied.

2. For the purposes of Licensed conditions length of service in the markets of financial services, namely services in administration of non-state pension funds, property management for financing of construction objects and/or implementation of real estate transactions, is equated to length of service in the stock market.

3. For the purposes of Licensed conditions, length of service in financial institutions which perform activities for administration of non-state pension funds, property management for financing of construction objects and/or implementation of real estate transactions, or in self-regulatory organizations or associations which unite such financial institutions is equated to length of service in professional participants of the stock market or in self-regulatory organizations or associations which unite professional participants.

4. To administrators of non-state pension funds and managing directors within six months from the effective date this decision to bring the activities into accord with requirements of Licensed conditions.

5. To department of methodology of regulation of professional participants of the security market () provide Kurochkin I.:

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.

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

7. Control over the implementation of this decision to assign to the member of the National commission on securities and the stock market Panchenko A.

Commission chairman

T. Hromayev

 

It is approved:

Acting as Chairman of the Antimonopoly Committee of Ukraine

 

A. Muzychenko

Acting as Chairman of Public service of financial monitoring of Ukraine

I. Gajewski

Approved by the Decision of the National commission on securities and the stock market of Ukraine of February 2, 2021 No. 61

Licensed conditions of implementation of separate types of professional activity in the stock market

I. General provisions

1. These Licensed conditions establish conditions of implementation of separate types of professional activity in the security market and activities in system of accumulative provision of pensions - professional activity in the stock market (further - professional activity in the stock market), namely:

1) activities for administration of non-state pension funds;

2) activities for property management for financing of construction objects and/or implementation of real estate transactions.

2. In these Licensed conditions terms are used in such values:

the administrator of non-state pension fund (further - the administrator) - the legal entity who obtained license for activities on administration of non-state pension funds (further - NPF) on the terms of the Law of Ukraine "About non-state pension provision";

the separate division of the licensee - branch, other division of the legal entity which is located out of its location and performs everything or part of its functions on implementation of professional activity in the stock market;

equity - difference between aggregate value of assets and cost of obligations to other persons;

the leading officials are persons performing the executive functions and faces performing supervising functions;

the licensee - the legal entity having license(s) for implementation of separate type of professional activity in the stock market (further - the license) received in the procedure established by the legislation;

the location of the legal entity - the address of the legal entity specified in the Unified State Register of Legal Entities, physical persons entrepreneurs and public forming;

the mediated essential participation - ownership in the licensee which comes if person or group of persons directly or indirectly owns share (shares) in the authorized capital of the legal entity - the owner of essential participation in structure of property of the licensee and/or shares (shares) in the authorized capital of legal entities - direct owners in structure of the licensee, in such size which provides opportunity to control through this person (these persons) of 10 and more percent of the authorized capital of the licensee;

person who performs executive functions - the chairman and members of collegiate executive body, person performing powers of sole executive body or other physical person responsible for the management of the current activities of the legal entity and accountable on this matter to persons who perform supervising functions, including regarding accomplishment by the legal entity and his specialists of internal documents (rules, provisions, regulations, etc.) concerning implementation of certain type of professional activity in the stock market;

persons who perform supervising functions - the chairman and members of the supervisory board, other persons who have powers on determination of strategy, the purposes and general activity of the legal entity watch process of acceptance of management decisions and control this process;

violation of requirements of the legislation - violation by the licensee of requirements of the legislation in the security market, in system of accumulative provision of pensions in system of financial and credit mechanisms and property management in case of construction of housing and real estate transactions, in particular, regulatory legal acts NKTsBFR concerning regulation of professional activity in the stock market, including these Licensed conditions;

the room - the part of unobstructed capacity of the building limited to construction elements with possibility of entrance and exit which is used by the licensee when implementing professional activity in the stock market;

the direct owner of the legal entity - person which is the owner of shares/share in the authorized capital of such legal entity;

the public company is:

public joint stock company;

the foreign legal entity who is the issuer of the shares admitted to trading at least on one of the following stock exchanges:

New York Stock Exchange (NYSE);

Hong Kong Exchanges and Clearing;

to the stock exchange entering into Nasdaq, Inc.;

to stock exchange of the country entering the European Union;

the foreign stock exchange entering into World federation of the exchanges;

the certified specialist - physical person addressed to which the certificate on the right of implementation of actions which are directly connected with implementation of professional activity in the stock market is issued according to Regulations on certification of specialists in the questions of the stock market approved by the decision of the National commission on securities and the stock market of August 13, 2013 No. 1464, registered in the Ministry of Justice of Ukraine on September 11, 2013 for No. 1572/24104 (with changes) which effective period did not expire;

the specialized structural division - department, management, department, the sector which is integral part of internal organizational structure of the licensee which is bank or its separate division and has other location, than the licensee or its separate division;

length of service in the stock market - general length of service of physical person:

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