The bill (Reg. No. 3166) suggests amend chapters two and three of article 11 of the Law “On State Regulation of the Securities Market in Ukraine.”
According to the people’s deputies, the bill suggests radically change the procedure of applying sanctions by authorized members of the Securities and Stock Market State Commission to legal persons for law violations on the securities market.
The Cabinet of Ministers upholds the draft law on condition of taking into account remarks regarding the necessity of harmonizing the bill’s provisions with the respective provisions of the Law “On Enforcement Proceedings” and the Code of Administrative Proceedings of Ukraine.
The Central Scientific Experts Office of the Verkhovna Rada of Ukraine Secretariat in its opinions stated that amends should be made not to article 11 of the current law, but to article 12.