The Kyiv Post welcomes feedback about our new website and we stand ready to fix any problems users might encounter in our test phase. Contact us at: news@kyivpost.com or +38-044-591-3344. Thank you!

Share Tweet Pocket Add to Bookmarks
You're reading: Yanukovych spooks market by inking law
Popular
on social media

The so-called depository law, which some say could doom the weak local capital market, is the latest in a series of rushed laws taking advantage of the final days of a rubber stamp parliament to secure various interests, experts say.

According to parliament’s website, Yanukovych signed the law on Sept. 24. It remains unclear what the final version looks like. The bill was repeatedly changed at various points throughout the legislative process. The version from the second reading reappearred on parliament’s website on Oct. 4 after having disappeared for 10 days.

The law proposes to create a national Central Securities Depository that would gain control over essential functions of the country’s financial market. It proposes to create the new entity on the basis of the National Depository of Ukraine, a state-run institution which currently covers 10 percent of the market. It will absorb the All Ukrainian Securities Depository, majority owned by market participants. A similar process will take place for the country’s clearing system.

Exclusive article

Select your subscription plan now and gain access to all exclusive content on KyivPost.com.

See All Plans
$5.95
per month
Website

Gain access to all exclusive Kyiv Post stories and opinions online.

Subscribe
$9.95
per month
Unlimited

Weekly delivery of the newspaper, unlimited access to all exclusive content on KyivPost.com.

Subscribe
Advertisement

Add comment

Sorry, you must be logged in to post a comment.
More in this section
Attention

Add a picture
Choose file
Add a quote
Attention

Are you sure you want to delete your comment?

Attention

Are you sure you want to delete all user's comments?

Attention

Are you sure you want to unapprove user's comment?

Attention

Are you sure you want to move to spam user's comment?

Attention

Are you sure you want to move to trash user's comment?

Spelling error report

The following text will be sent to our editors: