You're reading: Poroshenko intends to increase independence of securities commission

Ukrainian President Petro Poroshenko plans to present legal initiatives to increase the independence of the regulator of the Ukrainian stock market. He announced that during the meeting with David Wright, secretary-general of the International Organization of Securities Commissions (IOSCO) on Nov.25.

“The accession of the National Commission for Securities and the Stock Market of Ukraine to the IOSCO is an extremely important step for capital market development in Ukraine,” said Poroshenko.

The memorandum of understanding cooperation and information exchange, as well as the adoption of legislative amendments, will help to ensure interaction for the efficient regulation of the securities market and identification of the abusive practices left over from the previous corrupt government, the president added.

Poroshenko highlighted the increasing role of the National Commission for Securities and the Stock Market of Ukraine.

In turn, Wright said that accession of Ukraine to the IOSCO is an important test of capital market reform.