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RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of June 13, 2023 No. 602

About approval of the Procedure for forming of the list of foreign stock exchanges (controlled markets) to which requirements for disclosure of information on final beneficial owners extend

1. Approve the Procedure for forming of the list of foreign stock exchanges (controlled markets) to which requirements for disclosure of information on final beneficial owners which is applied extend.

2. Recommend to the National commission on securities and the stock market to submit proposals in the list of foreign stock exchanges (controlled markets) to which requirements for disclosure of information on final beneficial owners, equivalent to those which were accepted by the European Union, taking into account development of the international market of the capital extend.

Approved by the Resolution of the Cabinet of Ministers of Ukraine of June 13, 2023, No. 602

Procedure for forming of the list of foreign stock exchanges (controlled markets) to which requirements for disclosure of information on final beneficial owners extend

1. This Procedure determines the general principles of forming of the list of foreign stock exchanges (controlled markets) to which requirements for disclosure of information on final beneficial owners, equivalent to those which were accepted by the European Union (further - the list) extend.

3. The Ministry of Economics creates the list taking into account requirements of this Procedure, develops the draft of the act of the Cabinet of Ministers of Ukraine of approval of the list and submits it for consideration of the Cabinet of Ministers of Ukraine in accordance with the established procedure. When forming the list of Ministry of Economics considers results of study of relevant proposals from NKTsBFR, the Ministry of Finance, the MFA and Gosfinmonitoring.

4. Inclusion of foreign stock exchanges (controlled markets) in the list is performed on condition of observance of all following requirements:

1) shares of the public companies (the legal entities created according to the legislation in the form of public joint stock company) are admitted to trading at such exchanges;

2) the legislation of the country of creation and registration, internal documents and procedures regulating activities of foreign stock exchange (controlled market) provide fulfillment of requirements on disclosure of information on final beneficial owners, equivalent with the fact that were accepted by the European Union, in particular the Directive of the European parliament and Council (EU) 2015/849 of May 20, 2015 about prevention of use of financial system for the purposes of money laundering or financing of terrorism, about modification of Regulations of the European Parliament and Council (EU) No. 648/2012 and about cancellation of the Directive of the European Parliament and Council 2005/60/EU and Directives of the Commission 2006/70/EU;

3) the stock exchange (controlled market) is registered in the state which is the member of the European Union and/or the member Gruppy on development of financial measures of anti-money laundering (FATF);

4) the country of creation and registration of stock exchange (controlled market) has the smaller number of points in comparison with Ukraine on indicator of risks of washing of means and financings of terrorism in the rating of Basel Anti-Money Laundering Index of the Basel Institute of management (Basel Instituteon Governance);

5) rules of admission to trading by shares of the public companies (the legal entities created in the form of public joint stock company) contain sufficient procedures of control of observance of requirements of the Law of Ukraine by such companies "About the capital markets and the organized goods markets" regarding disclosure of regulated information in the capital markets;

6) foreign stock exchanges (controlled markets) provide informing participants of the exchange biddings and investors concerning issuers, their securities and other financial instruments;

7) foreign stock exchanges (controlled markets) apply adequate measures of impact for non-compliance with requirements of the legislation and internal documents on disclosure by the public companies (the legal entities created in the form of public joint stock company) of regulated information in the capital market and information on final beneficial owners.

5. The foreign stock exchange (controlled market) if it is registered in the state (jurisdiction) cannot be included in the list:

1) which is brought in the list of the states (jurisdictions) which do not carry out or inadequate image implement recommendations of the international, intergovernmental organizations involved in the field of fight against legalization (washing) of income gained in the criminal way, either financing of terrorism or financing of distribution of weapons of mass destruction;

2) which is determined by the European commission the country with the weak mode of prevention and counteraction of legalization (washing) of income gained in the criminal way, to either financing of terrorism or financing of distribution of weapons of mass destruction (further - prevention and counteraction);

3) which does not cooperate in provision of information on beneficial ownership according to reports of the Global forum of Organization for Economic Cooperation and Development (OECD) on observance of international standards of transparency of the taxation;

4) which is carried by the Cabinet of Ministers of Ukraine to the list of offshore zones;

5) which performs the armed aggression against Ukraine.

6. The foreign stock exchange (controlled market) at which the owner of essential participation (legal entity or physical person) corresponds at least to one of the following criteria cannot be included in the list:

the residence (stay, registration) persons is the state (jurisdiction) which does not carry out or in an inadequate way implements recommendations of the international, intergovernmental organizations involved in the field of fight against legalization (washing) of income gained in the criminal way, either financing of terrorism or financing of distribution of weapons of mass destruction;

person included in the list of faces tied with implementation of terrorist activities or to which the international sanctions are applied or is person whom directly or indirectly own or final beneficial owners of which persons included in such list are;

person to whom (which final beneficial owner) special economic and other rationing measures (sanctions) according to article 5 of the Law of Ukraine "About sanctions" are applied according to resolutions of the Security Council of the United Nations, other international organizations, decisions of the Council of the European Union, other interstate associations, the member (participant) of which is Ukraine;

face, the residence (stay, registration) which is the state carried by the Cabinet of Ministers of Ukraine to the list of offshore zones;

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