OREANDA-NEWS. September 10, 2008. The Committee on Finance and Banking recommends that the Parliament adopts as a Basis the Bill on Amendments to certain Laws of Ukraine concerning Enhancement of Requirements for the Authorized Capital of the Professional Participants of the Stock Market, reported the Official website http://portal.rada.gov.ua.

The committee members stated that elaboration of the Bill (Reg. No.2540) is caused by  "necessity of enhancement of requirements to the authorized capital of professional participants of stock market with intention to reduce the risk regarding the deals with securities by performance of  professional activity on the stock market".

The Bill suggested to essentially increase the amount of authorized capital of professional participants of stock market.

In particular, for the sellers of securities (depending on the type of activity from 500000 to 7 mln UAH); depositaries of securities (7 mln UAH); registrators (300000 UAH); depositors (15 mln UAH); clearing depositors (35 mln UAH); companies in charge of asset management (7 mln UAH); stock exchanges (15 mln UAH), stock exchanges that perform clearing and accounting (35 mln UAH); pension fund asset management (1 mln EUR).

Demands to the authorized capital of persons licensed for conduct of activity related to asset management will be defined by the State Securities and Stock Market Commission.