NBU, National Securities Commission sign Memorandum of Understanding

NBU Chairman Yakiv Smoliy and Head of the National Securities Commission Timur Khromayev participated in the signing ceremony, an Ukrinform correspondent reports.

"The Memorandum of Understanding between the National Bank and the National Securities Commission on cooperation in the development of capital markets infrastructure envisages the transformation of capital markets’ infrastructure and outlines the steps needed to reform it. In the future, this document should become the conceptual basis for a new law on the depositary system of Ukraine," Smoliy said and added that the updated, transparent, modern infrastructure will become convenient both for domestic and foreign investors.

He noted that the restructuring of the capital markets infrastructure is one of the key points of the integrated program for the development of Ukraine’s financial sector until 2020.

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