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

of July 11, 2024 No. 09/21/856/K03

About modification of the decision of the National commission on securities and the stock market of May 13, 2021 No. 276

According to Item of 1 part one of article 7 of the Law of Ukraine "About state regulation of the capital markets and the organized goods markets", the Law of Ukraine "About ministerial procedure", the Law of Ukraine of June 30, 2021 No. 1587-IX "About modification of some legal acts of Ukraine concerning enhancement of questions of the organization of corporate management in banks and other questions of functioning of bank system", the Law of Ukraine "About financial services and finance companies", the Law of Ukraine "About financial accounting and the financial reporting in Ukraine" the National commission on securities and the stock market SOLVED:

1. Bring in the decision of the National commission on securities and the stock market 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", registered in the Ministry of Justice of Ukraine on May 25, 2021 at No. 692/36314, the following changes:

"-activities for the organization of trade in products at commodity exchanges" to exclude 1) in heading and Item 1 of the word;

Items 2-4 to exclude 2).

With respect thereto to consider Items 5-8 respectively Items 2-5.

2. Make Changes to Licensed conditions of implementation of professional activity in the organized goods markets - activities for the organization of trade in products at the commodity exchanges approved by the decision of the National commission on securities and the stock market of May 13, 2021 No. 276, registered on May 25, 2021 at No. 692/36314, having been reworded as follows them which is applied (further - Licensed conditions) the Ministry of Justice of Ukraine.

3. To provide to department of methodology of regulation of professional participants of the security market submission of this decision on state registration in the Ministry of Justice of Ukraine.

4. To provide to management of administrative activities promulgation of this decision on the official website of the National commission on securities and the stock market.

5. This decision becomes effective from the date of, its official publication following behind day.

6. To commodity exchanges which on the date of entry into force of this decision have current licenses on implementation of activities for the organization of trade in products at commodity exchanges, to bring the activities into accord with requirements of Licensed conditions:

within six months from the effective date this decision, except Item 7 of Chapter 5 of the Section II of Licensed conditions;

within one year from the effective date this decision on Item 7 of Chapter 5 of the Section II of Licensed conditions.

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

Approved by the Decision of the National commission from securities of the stock market of Ukraine of July 11, 2024 No. 09/21/856/K03

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 / лицензиата-филиал, 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 / лицензиата-лицо, 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 / лицензиата-лицо, 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 / лицензиата-департамент, 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;

18) participation in the authorized capital - the direct and/or mediated ownership of one person independently or together with other persons of shares (shares) in the authorized capital of the legal entity;

19) the specialist worker of the applicant/licensee having the sufficient level of knowledge and skills for implementation of actions (transactions) connected with direct implementation of activities in the organized goods markets;

20) text Portable Document Format/a format format (format of the PDF 1.4 ISO 19005-1 specification: 2005) - PDF/A, RichTextFormat-RTF, Excel (.xlsx), Word (.doc), Word (.docx).

The terms "outsourcing", "close relations", "goodwill", "person performing executive functions", "person performing managerial functions", "official channel of communication", "officials of the professional participant of the capital markets and organized goods markets", "seed capital", "professional activity in the organized goods markets", "professional activity in the capital markets", "professional participants of the organized goods markets", "professional participants of the capital markets", "members of the capital markets" are used in the values given in the Law of Ukraine "About the capital markets and the organized goods markets".

The term "electronic trading system" is used in the value given in the Law of Ukraine "About commodity exchanges".

The terms "essential participation", "controller", "control" are used in the values given in the Law of Ukraine "About financial services and finance companies".

The terms "associated person", "key participant in structure of property of the legal entity", "chain of ownership of corporate laws of the legal entity", "structure of property of the legal entity" are used in the values given in the Law of Ukraine "About banks and banking activity".

The terms "faultless goodwill", "final beneficial owner", "official source", "politically significant persons" and "trust" are used in the values given in the Law of Ukraine "About prevention and counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction".

The term "force majeur circumstances" is used in the value given in the Law of Ukraine "About Chambers of Commerce and Industry in Ukraine".

The term "the armed aggression "is used in the value given in the Law of Ukraine "About defense of Ukraine".

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