Document approved

National Commission on Securities and Stock Exchange has approved the revised draft decision «On amending the Regulation on the peculiarities of organization and conducting internal audit (control) in professional participants of stock market.» The document was reviewed and approved at the meeting of the regulator on 24 December 2013, NSSMC announced.

«Amending the document that defines the mechanism for conducting internal audit of professional participants was done in interaction with the market, and was effective and productive. In particular, the text of the regulatory act took into account suggestions and comments of the Professional Association of Registrars and Depositories and Ukrainian Association of Investment Business for the main tasks of the internal audit, requirements to the person who temporarily fulfills the duties of the head of service, certain terms clarified etc. We hope that together we were able to prepare a document most comfortable to market participants», said Oleh Mysiura, Director of Control and Legal Work NSSMC.

It should be added that Regulation was developed according to the Laws of Ukraine «On State Regulation of Securities Market in Ukraine», «On Securities and the Stock Market», «On Financial Services and State Regulation of Financial Markets,» «On prevention and counteraction to legalization (laundering) of proceeds from crime or financing of terrorism « and establishes peculiarities of the organization and conducting internal audit in the professional securities market participants other than banks.