The President signed the law on stock market reform

On March 25th, President of Ukraine Volodymyr Zelensky signed bill No. 5865, which envisages the reform of the capital market and strengthens the powers of its regulator, the National Securities and Stock Market Commission (NSSMC).

According to this bill, the NSSMC is to receive expanded powers, becoming more independent and institutionally capable. As explained by the Chairman of the Verkhovna Rada Committee on Finance, Danylo Hetmantsev, this law will establish regulation, supervision, and control over capital markets and organized commodity markets in Ukraine, as well as prevent abuses in these markets.

Bill No. 5865 is a requirement of the World Bank as part of the implementation of the DPL program. To fulfill it, Ukraine was supposed to enact three laws ("On electronic agricultural receipts", corporate governance, and the NSSMC) by March 5, 2024, and in return receive a loan of $1.5 billion. The first two laws required by the World Bank have already been signed by the President.