Regulator approves draft decision

National Commission on Securities and Stock Exchange approved the draft resolution "On Amendments to the Regulations on preparation and disclosure of information by asset management companies and persons engaged in management of assets of private pension funds and submission of proper documents to the National Commission on Securities and Stock market". The decision was adopted at the Commission’s regular session, reports the NSSMC’s press service.

Oksana Symonenko, head of Department for Joint Investment and Regulation of Institutional Investors of the NSSMC stated, "First and foremost, the amendments are designed to bring the Regulations into compliance with the Law of Ukraine "On Collective Investment Institutions" and "On State Regulation of Securities Market in Ukraine". The regulatory act establishes requirements for terms of submission of settlements of mandatory prudential standards of AMCs (asset management companies) and persons engaged in management of assets NPF (of private pension funds), as well as deadlines of daily net asset value calculation of CIIs, CII's annual performance information, their financial statements as well as irregular data. Separate provisions stipulate details of disclosing information performance and net asset value calculation CII's and annual financial statements of AMCs".

According to Oksana Symonenko, adoption regulatory acts will improve the procedure for disclosing information of AMCs and protection of investor rights through measures to prevent law violations on securities market.