The
bill (Reg. No.4626) commissions the Cabinet of
Ministers of Ukraine to
scrutinize,
draft and submit the
bills on the legislative regulation
of off-exchange ‘alternative´ financial tools market
within two months.
The Committee members emphasised that the issues on ‘alternative´ financial tools are not regulated by the legislation of Ukraine. Moreover, even the legislation of the European Union does not subdivide the financial tools into the alternative and non-alternative. The People´s Deputies are convinced that "the bill does not define the issues of ‘alternative´ financial documents. Hence, it is actually impossible for the Cabinet of Ministers to execute the order as there is no definite formulation of it."
According to the Committee members, "drafting of the legislative acts on the off-exchange ‘alternative´ financial tools can not be separated from the complex drafting of the legislative regulation of the whole field of the financial tools."
The parliamentarians pointed out that the attached documentation lacks "arguments to support the fact that the mentioned system of ‘alternative´ financial tools is to be regulated and licensed under a different procedure."
The meeting participants also expressed other remarks to the bill.