Opening the
sitting, Committee Chair Vitalii Khomutynnik
stressed, "The degree of efficiency of the entire financial system and the
level of net output from the growth of real sectors of economy cannot raise until
the securities system is reformed."
He informed that the Verkhovna Rada had adopted several laws to improve activity of the financial market and introduce new regulation mechanisms concerning disclosure of information in the stock market; mortgage bonds; insider information; purpose bonds; regulation of markets of financial services; consolidated supervision and strategic law on the state regulator the National Commission on Securities and Stock Market.
V. Khomutynnik focused on the problems in the sphere of securities: quality increment in the stock market capitalization; improvement of the depositary clearing system; enhancement of the system of stock exchange by introducing new financial tools; introduction of new institutional investors in the stock market after the launch of the second stage of the pension system; strengthening of currency exchange regulation, etc.
Head of the State Commission on Securities and Stock Market Dmytro Teveliev briefed on the results of Commission´s work in 2010 and for the first half-year of 2011.
D. Teveliev informed that the commission had drafted the bills to improve state regulation of the securities market and corporate management to protect the investors´ rights, harmonize Ukrainian laws with the European law, and meet the requirements of FATF.
The Committee on Finance, Banking, Taxation and Customs Policy is scrutinizing four bills drafted by the commission.