The European Union continues its support to the National Securities and Stock Market Commission (NSSMC) with comprehensive non-banking sector reform. In order to help with developing an investment funds market in Ukraine, the EU-funded project “Strengthening the Regulation and Supervision of the Non-Bank Financial Market” (EU-FINREG) organised a study visit to Bulgaria and Croatia for NSSMC officials on July 15-19, 2019. NSSMC commissioners Maxym Libanov and Aleksandar Panchenko, and members of the Task Force for drafting a new law on collective investment undertakings, were among the participants of the visits.
(visit at the Financial Supervision Commission of Bulgaria (FSC), July 16 )
The discussions with peer institutions – the Financial Supervision Commission of Bulgaria (FSC) and Agency for Supervision of Financial Activities of Croatia (HANFA) – were focused on establishing a well-functioning legal framework for collective investment undertakings and matchmaking with relevant EU directives (UCITS and AIFM), as well as the resolution mechanisms for asset management companies and investor protection.
EU-FINREG assists the Ukrainian authorities in strengthening the regulatory framework and supervision practices for securities and investment business, insurance, pensions, non-bank credit institutions, non-bank payment institutions and other non-bank financial services, taking account of EU and international standards and best practices.