The HD-led project "Strengthening the Regulation and Supervision of the Non-Bank Financial Market" (EU-FINREG) held a training for members of the National Securities and Stock Market Commission (NSSMC), as well as non-banking financial market professionals. The two-day training (17-18 October) was part of a series of capacity building events, which are instrumental to improve an understanding of functioning of the capital market in Ukraine, its organisation and instruments.
‘’Human Dynamics’ project tackles potential threats like the excessive number of small, inefficient, often captive and non-transparent financial intermediaries that could hamper competition, market development and investment flows into Ukraine’s financial sector. Thus, if fully implemented, the strategic reform in the non-banking sector will capacitate the NSSMC to effectively coordinate policy formulation in the sector. Our trainings are meant to enable the Commission to perform these new competences’’, said Ivelina who manages the project.
The non-banking sector reform in Ukraine envisages that the NSSMC will become responsible for the supervision of private pension funds, issuers of mortgage certificates, funds for construction financing and real estate funds. The project, which was launched in November 2017, contributes to ensuring operational independence and enforcement of powers of the National Securities and Stock Market Commission (NSSMC) and its capacities to formulate regulations enabling the non-banking sector.