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

of July 23, 2013 No. 1281

About approval of Licensed conditions of implementation of professional activity in the stock market (security market) - activities for asset management of institution investors (activities for asset management)

According to Articles 3, of 4, Item 30 parts two of Article 7, Items 2-5, 13, of 20, 33 articles 8 of the Law of Ukraine "About state regulation of the security market in Ukraine", Articles 16, of 18, of 26, of 27, 27-1, 27-2 of the Law of Ukraine "About securities and the stock market", article 32 of the Law of Ukraine "About institutes of joint investment (share and corporate investment funds)", article 39 of the Law of Ukraine "About non-state pension provision", article 85 of the Law of Ukraine "About obligatory national pension insurance", Articles 8, of 9, of 21 Law of Ukraine "About financial services and state regulation of the markets of financial services" and other regulatory legal acts which regulate carrying out activities for asset management of institution investors determine qualification, organizational, production and other special requirements, necessary for carrying out the specified type of professional activity in the stock market, the National commission on securities and the stock market RESHILA:

1. Approve Licensed conditions of carrying out professional activity in the stock market (security market) - activities for asset management of institution investors (activities for asset management) (further - Licensed conditions) who are applied.

3. The legal entities who obtained termless licenses on carrying out professional activity in the stock market - activities for asset management of institution investors (activities for asset management), within two years after the introduction of July 4, 2012 No. 5042-VI "About modification of some legal acts of Ukraine concerning enhancement of the legislation on securities" shall submit to operation of the Law of Ukraine to the National commission on securities and the stock market information provided by Items 2-13 of part two of article 27-1 of the Law of Ukraine "About securities and the stock market".

4. To provide to department of joint investment and regulation of activities of institution investors (O. Simonenko) submission of this decision on state registration in the Ministry of Justice of Ukraine.

5. To provide to management of information technologies, external and internal communications (A.Zaik) publication of this decision in the official printing publication 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 O. Tarasenko.

Approved by the Decision of the National commission on securities and the stock market of Ukraine of July 23, 2013 No. 1281

Licensed conditions of carrying out professional activity in the stock market (security market) - activities for asset management of institution investors (activities for asset management)

I. General provisions

1. These Licensed conditions establish licensing procedure on carrying out professional activity in the stock market - activities for asset management of institution investors (activities for asset management), procedure for stop of action and cancellation of such license, condition of receipt of the license and carrying out the specified type of professional activity.

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

cancellation of the license - deprivation of the licensee by the National commission on securities and the stock market (further - the Commission) the rights to carrying out professional activity in the stock market - activities for asset management of institution investors (activities for asset management);

the applicant - the legal entity filing documents for obtaining or cancellation of the license;

The leading official - the chairman and members of collegiate executive body, their deputies, person performing powers of sole executive body, his deputies, the head and the deputy manager of structural division (except structural division which books internal audit (control)) the professional participant of the stock market and/or self-regulatory organization and/or consolidation of professional participants of the stock market and/or the leading official of State commission on securities and the stock market and/or the commission;

the final owner - the final beneficial owner (controller) or the legal entity concerning whom there is no final beneficial owner (controller);

the company on asset management which provides services to the pension fund - the subject of the second level, - the company on asset management which obtained the license for carrying out professional activity in the stock market - activities for asset management of institution investors (activities for asset management) and signed the contract on asset management with council of the relevant non-state pension fund - the subject of the second level of system of provision of pensions;

the licensee - the legal entity (the company on asset management, bank, made the decision concerning asset management created by it corporate non-state pension fund, the professional administrator, made the decision concerning asset management of non-state pension funds, which it provides service in administration) who obtained the license for carrying out professional activity in the stock market - activities for asset management of institution investors (activities for asset management);

further violation by the licensee of Licensed conditions - making by it within two years from the date of the edition body of licensing of the instruction about elimination of violations of these Licensed conditions of new violation at least one of requirements of Licensed conditions concerning which such order was issued;

violation is not considered repeated if the previous case concerning the licensee was closed, the resolution on imposing of the sanction for offense in the security market was repealed at the initiative of the Commission and also if the sanction was cancelled judicially or violation is made by the licensee during the period before application of the sanction;

violation of the law - violation of the law about securities, including these Licensed conditions;

the official of self-regulatory organization in the stock market - the head and deputy managers of executive body of self-regulatory organization, and also heads of structural divisions, including the head of legal service;

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 carrying out professional activity in the stock market;

the certified specialist - the worker of the legal entity who performs activities for asset management of institution investors, the received certificate on asset management according to the procedure, established by State commission on securities and the stock market and/or the Commission;

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

in the professional participant on any kind of professional activity in the stock market;

as official in self-regulatory organization in the stock market which acquired the corresponding status in the procedure established by the legislation;

as government employee in State commission on securities and the stock market and/or the Commission.

The terms "license", "licensing", "body of licensing" are used in the values determined by the Law of Ukraine "About licensing of types of economic activity" (further - the Law).

The terms "associated person", "officials" are used in the values determined by the Law of Ukraine "About securities and the stock market".

The terms "goodwill", "essential participation", "controller", "control", "connected person" and "structure of property" are used in the values determined by the Law of Ukraine "About financial services and state regulation of the markets of financial services".

Other terms are used in these Licensed conditions according to the Laws of Ukraine "About state regulation of the security market in Ukraine", "About securities and the stock market", "About institutes of joint investment", "About non-state pension provision".

3. Licensing of activities for asset management of institution investors (activities for asset management) is performed by the Commission.

4. The license for carrying out professional activity in the stock market - activities for asset management of institution investors (activities for asset management) can be received:

the company on asset management;

the professional administrator of non-state pension funds, the legal entity who performs administration of non-state pension funds according to the Law of Ukraine "About non-state pension provision";

bank - concerning assets of the corporate pension fund created by it according to the Law of Ukraine "About non-state pension provision" if it does not perform function of the keeper of this fund;

The National Bank of Ukraine - concerning assets of the corporate pension fund created by it.

5. The legal entity has the right to perform activities for asset management of institutional investors (activities for asset management) in all territory of Ukraine after receipt of the corresponding license, introduction in the procedure for record about inclusion in the state register of the financial institutions providing financial services in the security market established by the Commission (except bank), and on condition of membership at least in one consolidation of professional participants of the security market and/or the self-regulatory organization uniting professional participants of the security market - the company on asset management.

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