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

of May 13, 2021 No. 276

About approval of Licensed conditions of implementation of professional activity in the organized goods markets - activities for the organization of trade in products at commodity exchanges

According to Item 13 of article 8 of the Law of Ukraine "About state regulation of the security market in Ukraine", to Items 4, the 8th Section VII of the Law of Ukraine "About commodity exchanges" the National commission on securities and the stock market RESHILA:

1. Approve Licensed conditions of implementation of professional activity in the organized goods markets - activities for the organization of trade in products at commodity exchanges (further - Licensed conditions) which are applied.

2. Determine that regulations of paragraphs two and the seventh Item 7 of Chapter 1, Chapters 4, of the paragraph of the fourth Item 3 of Chapter 6 of the Section II of Licensed conditions on availability at persons specified in them, certificates the right of implementation of the actions connected with direct implementation of professional activity in the organized goods markets - activities for the organization of trade in products at commodity exchanges, and requirements to availability of the minimum number of the certified specialists are applied since December 1 of the year following after year of the termination or cancellation of warlike situation in Ukraine.

Till December 1 of the year following after year of the termination or cancellation of warlike situation in Ukraine the requirement about availability at them the higher education not below the sixth level according to the National frame of the qualification approved by the resolution of the Cabinet of Ministers of Ukraine of 23.11.2011 No. 1341 "About approval of the National frame of qualifications" and/or the second cycle of the higher education of the Frame of qualifications of the European space of the higher education is applied to persons specified in the paragraph the second and seventh Item 7 of Chapter 1, to Chapter 4, the paragraph the fourth Item 3 of Chapter 6 of the Section II of Licensed conditions.

3. Determine that the regulation of paragraph two of Item 8 of Chapter 1 of the Section II of Licensed conditions on availability at persons specified in this Item, the qualification certificate of the specialist in questions of financial accounting of professional participants of the capital markets and the organized goods markets is applied since December 1 of the year following after year of the termination or cancellation of warlike situation in Ukraine.

Till December 1 of the year following after year of the termination or cancellation of warlike situation in Ukraine the requirement about availability at them the higher education not below the fifth level according to the National frame of the qualification approved by the resolution of the Cabinet of Ministers of Ukraine of 23.11.2011 No. 1341 "About approval of the National frame of qualifications" and/or the first cycle of the higher education of the Frame of qualifications of the European space of the higher education is applied to persons specified in the paragraph the second Item 8 of Chapter 1 of the Section II of Licensed conditions.

4. For the purpose of ensuring accomplishment of regulations of Item 5 of Chapter 1, of the paragraph of the tenth Item 2 of Chapter 7 of the Section II and the subitem 4 of Item 1 of the Section III of Licensed conditions concerning compliance to International accounting standards of the annual financial reporting, interim financial statements, the annual consolidated statements and intermediate consolidated financial statements, date of transition to International accounting standards of commodity exchange which till July 1, 2021 performs activities according to the Law of Ukraine "About commodity exchanges" and has intention to perform activities for the organization of trade in products at commodity exchanges according to the Law of Ukraine "About commodity exchanges", shall be no later than January 1, 2021.

5. For the purposes of Licensed conditions length of service of physical person on the leading positions / as specialist of the commodity exchange created according to the Law of Ukraine "About commodity exchanges" and the stock exchange created according to the Law of Ukraine "About securities and the stock market" is equated to length of service in the capital markets and the organized goods markets.

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

submission of this decision for implementation of examination on compliance of the Convention on human rights protection and fundamental freedoms in the Secretariat of the Representative for cases of the European Court of Human Rights of the Ministry of Justice of Ukraine;

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.

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

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

 

It is approved: Acting as Chairman of the Antimonopoly Committee of Ukraine

A. Muzychenko

Chairman of Public service of financial monitoring of Ukraine

I.Cherkassky

First Deputy Minister digital transformations of Ukraine

V. Vyskub

Approved by the Decision of the National commission on securities and the stock market of Ukraine of May 13, 2021 No. 276

Licensed conditions implementation of professional activity in the organized goods markets

I. General provisions

1. The present Licensed conditions establish the requirements obligatory for execution in case of receipt of the license for implementation of professional activity in the organized commodity markets activities on the organization of trade in products at commodity exchanges and/or the license for implementation of professional activity in the organized goods markets - activities for the organization of the conclusion of derivative contracts at commodity exchanges (further - the license) and when implementing these types of professional activity in the organized goods markets, the list of documents which are filed by the applicant for licensing, and feature of combination of such types of professional activity in the organized goods markets with separate types of professional activity in the capital markets.

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

1) separate division of the applicant / litsenziata-filial, other division of the legal entity located out of its location is not included into internal organizational structure and performs everything or part of its functions on implementation of professional activity in the organized goods markets and/or professional activity in the capital markets (in case of combination of professional activity in the organized goods markets with separate types of professional activity in the capital markets), except specialized structural division;

2) providing continuity of activities availability at the applicant/licensee of the reserve information and communication systems or other effective remedies providing implementation of its professional activity without failures;

3) the applicant - the legal entity created by the legislation of Ukraine which intends to perform activities for the organization of trade in products at commodity exchanges and/or activities for the organization of the conclusion of derivative contracts at commodity exchanges also submitted to NKTsBFR the application and the relevant documents for receipt of the license;

4) failure is unplanned business disruption of the licensee which leads to interruption in provision by such licensee of services, including violation of implementation of the functions transferred on outsourcing, and/or violation of functioning or delay in work of information and communication system of the licensee (including transferred to outsourcing) caused by unavailability of software and hardware complexes, personnel, rooms, service providers or data-processing centers, damage or loss of crucial information or documents, etc.;

5) the leading official persons persons performing executive functions, and the faces performing supervising functions;

6) the applicant's head / litsenziata-litso, performing function of sole executive body, or the chairman of collegiate executive body of the applicant/licensee;

7) the licensee - the legal entity created by the legislation of Ukraine, having the license obtained in the procedure established by the legislation;

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

9) the mediated essential participation ownership in the applicant/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 legal entity of the applicant of the licensee, and/or shares (shares) in the authorized capital of legal entities - direct owners of the applicant/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 applicant/licensee;

10) persons, the performing supervising functions chairmen and members of the supervisory board (or other body responsible for implementation of supervision of the legal entity (exchange council / exchange committee)), other persons having 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;

11) permanency of provision of services providing by the licensee of opportunity to interact with the client in the licensee or via any means of communication defined by the relevant agreement signed with the client on permanent basis according to the working schedule of the licensee;

12) the room part of unobstructed capacity of the building, limited to construction elements, with possibility of entrance and exit which is used by the licensee (including its isolated and/or specialized structural divisions) when implementing activities for the organization of trade in products;

13) the direct owner of the applicant / litsenziata-litso, being the owner of share (shares) in the authorized capital of the applicant/licensee;

14) the public company is:

public joint stock company;

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

New York Stock Exchange (NYSE);

Hong Kong Exchanges and Clearing;

London Stock Exchange (LSE);

Japan Exchange Group;

the controlled markets entering into Nasdaq, Inc.;

the controlled markets of the country entering the European Union;

controlled markets of Switzerland;

15) specialized structural division of the applicant / litsenziata-departament, the management, department, the sector etc. which is integral part of internal organizational structure of the applicant/licensee or its separate division and having other location, than the licensee or its separate division;

16) length of service on executive positions - length of service as the leading official and/or as deputy of the leading official of the professional participant of the capital markets and the organized goods markets, and/or as head and/or deputy manager of the isolated, specialized structural and/or functional division of the professional participant of the capital markets and the organized goods markets and/or as in associations (associations) of persons performing professional activity in the capital markets which acquired the status of self-regulatory organization and/or to positions of public service categories B in NKTsBFR, and / or to positions of the Chairman or member of such commission are not lower than the head and/or the deputy manager;

17) length of service in the capital markets and the organized commodity markets is general length of service of physical person which includes:

length of service on the leading positions / as specialist of the commodity exchange performing activities for the organization of trade in products at commodity exchanges and/or activities for the organization of the conclusion of derivative contracts at commodity exchanges according to the Law of Ukraine "About commodity exchanges"

and/or length of service on the leading positions / as specialist of other subject of the managing performing activities for the organization of trade in products on the authorized electronic platforms at the organized electronic biddings or with use of other special software according to the legislation of Ukraine,

and/or length of service on the leading positions / as specialist in associations (associations) of commodity exchanges;

and/or length of service on executive positions and/or as specialist in associations (associations) of persons performing professional activity in the capital markets

and/or on the leading positions / as specialist of other subjects of managing performing activities for the organization of trade in financial instruments according to the legislation of Ukraine

and/or to positions of public service in the state bodies regulating the corresponding goods market, including, the National commission performing state regulation in spheres of power and utilities and NKTsBFR to positions of the chairman or member of these commissions;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info