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

of October 21, 2021 No. 982

About approval of the Procedure for issue, suspension of action and cancellation of the license for implementation of professional activity in the capital markets

According to Item 13 parts one of article 8 of the Law of Ukraine "About state regulation of the capital markets and the organized goods markets", to Item 8 of the Section II "Final and transitional provisions" of the Law of Ukraine of June 19, 2020 No. 738-І X "About modification of some legal acts of Ukraine concerning simplification of investment attraction and implementation of new financial instruments" the National commission on securities and the stock market RESHILA:

1. Approve the Procedure for issue, suspension of action and cancellation of the license for implementation of professional activity in the capital markets which is applied.

2. Recognize invalid:

the decision of the National commission on securities and the stock market of May 14, 2013 No. 816 "About approval of the Procedure for suspension of action and cancellation of the license for separate types of professional activity in the stock market (security market)", registered in the Ministry of Justice of Ukraine on June 1, 2013 for No. 862/23394 (with changes);

the decision of the National commission on securities and the stock market of May 14, 2013 No. 817 "About approval of the Procedure and conditions of licensing for implementation of separate types of professional activity in the stock market (security market)", registered in the Ministry of Justice of Ukraine on June 1, 2013 for No. 854/23386 (with changes);

the decision of the National commission on securities and the stock market of February 2, 2021 No. 60 "About approval of the Procedure for issue, suspension of action and cancellation of the license for implementation of separate types of professional activity in the security market and activities in system of accumulative provision of pensions", registered in the Ministry of Justice of Ukraine on April 6, 2021 for No. 456/36078 (with changes).

3. 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.

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 Baramiya I., Boyko Yu., Ilyina A., Shlyakhov Ya.

 

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

Chairman of the National Bank of Ukraine

K. Shevchenko

First Deputy Minister of digital transformation of Ukraine

A. Vyskub

Approved by the Decision of the National commission on securities and the stock market of Ukraine of October 21, 2021, No. 982

Procedure for issue, suspension of action and cancellation of the license for implementation of professional activity in the capital markets

I. General provisions

1. This Procedure establishes the procedure of licensing for implementation of professional activity in the capital markets (further - the license) which types are specified in this Item, the bases for refusal in its issue, the procedure and the bases of suspension of action and cancellation of the license.

NKTsBFR grants licenses for such types of professional activity in the capital markets:

1) activities for trade in financial instruments which include such types of activity:

subbroker activities;

broker activities;

dealer activities;

activities for portfolio management of financial instruments;

investment consulting;

underwriting and/or activities for placement with provision of a guarantee;

activities for placement without provision of a guarantee;

2) activities for the organization of trade in financial instruments which include such types of activity:

activities for the organization of the securities trading in the controlled stock market;

activities for the organization of the conclusion of derivative contracts in the controlled market of derivative contracts;

activities for the organization of trade in tools of the money market in the controlled money market;

activities for the organization of the securities trading on stock multilateral trading floor (further - MTP);

activities for the organization of the conclusion of derivative contracts for MTP of derivative contracts;

activities for the organization of trade in bonds on organized trading floor (further - OTM) bonds;

activities for the organization of the conclusion of derivative contracts for OTM of derivative contracts;

3) clearing activities which include such types of activity:

clearing activities for determination of obligations;

clearing activities of the central partner;

4) depository activity which includes such types of activity:

depository activity of depository institution;

activities for storage of assets of institutes of joint investment;

activities for storage of assets of the pension funds;

5) activities for asset management of institutional investors which include such types of activity:

activities for asset management;

activities for management of mortgage covering;

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

7) activities for administration of non-state pension funds.

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

cancellation of the license - deprivation of the licensee of NKTsBFR of the right to implementation of certain type of professional activity in the capital markets, by acceptance of NKTsBFR of the administrative act about cancellation of the license and entering of the corresponding record into the register of professional participants of the capital markets and the organized goods markets;

licensing - provision to person of the right to implementation of separate type of professional activity in the capital markets, by acceptance of NKTsBFR of the decision on licensing and entering of the corresponding record into the register of professional participants of the capital markets and the organized goods markets;

the applicant - the legal entity created by the legislation of Ukraine including the licensee who submits the application and the relevant documents for receipt of the license, or cancellation of the corresponding license;

suspension of action of the license - suspension for certain term (up to one year) actions of the license in case of violation by the licensee of requirements of the legislation;

the licensee - the legal entity having the license(s) 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 or the address of the legal entity reported to NKTsBFR according to the corresponding licensed conditions of implementation of certain type of professional activity in the capital markets established by NKTsBFR (further - licensed conditions), including if the address of the legal entity specified in the Unified State Register of Legal Entities, physical persons entrepreneurs and public forming does not contain these numbers of the floor of the building, office (the room, rooms) (in case of their availability);

the register of professional participants of the capital markets and the organized goods markets (further - the register of professional participants) - the list which structure includes licensees (except the National Bank of Ukraine) and Central Securities Depository which is created and kept NKTsBFR as the automated system of collection, accumulating, protection and accounting of information about these subjects according to the procedure, established by the legislation on this matter;

text format - the PortableDocumentFormat/A format (format of the PDF 1.4 ISO 19005-1:2005) specification - PDF/A, format of the text Rich - rtf, Excel (.xlsx), Word (.doc), Word (.docx);

The term "goodwill" is used in the value determined by the Law of Ukraine "About the capital markets and the organized goods markets".

The term "essential participation" are used in the value determined by the Law of Ukraine "About financial services and finance companies".

The term "structure of property of the legal entity" is used in the value determined by the Law of Ukraine "About banks and banking activity".

The term "foreign person" are used in the value determined by the Law of Ukraine "About private international law".

3. The license for the certain type of professional activity in the capital markets specified in Item 1 of this Section turns out the applicant according to requirements of this Procedure on condition of observance of licensed conditions of implementation of this type of activity by it.

4. Effective period of the license is not limited.

The license acts before entry into force of the decision of NKTsBFR on cancellation of the license/resolution on imposing of the sanction in the form of cancellation of the license for violations on the capital markets and the organized goods markets (further - the resolution on imposing of the sanction).

Implementation of separate type of professional activity in the capital markets after decision making of NKTsBFR about cancellation of the license/resolution on imposing of the sanction which entered force in the procedure established by the legislation (except accomplishment of stipulated by the legislation actions for the termination of implementation of separate type of professional activity in the capital markets), is not allowed.

5. Administrative service NKTsBFR in licensing is paid service which amount of payment for provision is established by the Amount of payment for registration actions concerning members of the capital markets and other persons approved by the decision of NKTsBFR of June 13, 2022 No. 620, registered in the Ministry of Justice of Ukraine on August 10, 2022 at No. 909/38245.

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