OREANDA-NEWS. January 16, 2012. The National Commission on Securities and Stock Market has adopted a decision amending the Regulation on certification of persons which executing professional activity with securities in Ukraine. Relevant decision member of Commission accepted at the meeting of the regulator, on 12 January 2012.

"We developed this document in order to increase accountability for professional activity at securities market and to prevent violations of laws of Ukraine on securities of certified persons", - Oleg Naumenko said, acting Director of the Department of methodology of regulation of securities market of the Commission.

In particular, according to developers of Modified Provisions, Act provides for regulatory amendments to the Regulations aimed at a more precise definition of procedures by the Commission on the cancellation of the certificate.

So, with the entry into force Provisions, it will be set a clear and exhaustive list of grounds for revocation of certificates to individuals for violations of applicable law in the proceedings of the securities market of Ukraine, which will avoid ambiguous interpretation of their stakeholders. Also among the expected results to identify the consequences that could result in unfair activities on securities markets and the definition, in which, after cancellation of certificate of a person may apply for a new certificate.

Note that at this stage, amendments to the Regulations are transferred to the Ministry of Justice of Ukraine for state registration document.