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DECISION OF THE NATIONAL COMMISSION ON SECURITIES AND STOCK MARKET OF UKRAINE

of September 5, 2025 No. 09/21/2831/K03

About modification of the procedures approved by decisions of the National commission on securities and the stock market of May 13, 2021 No. 275 and of October 21, 2021 No. 982

According to Items 1 and 17 of part one of article 7 of the Law of Ukraine "About state regulation of the capital markets and the organized goods markets", article 72-1 of the Law of Ukraine "About the capital markets and the organized goods markets", for the purpose of reduction of regulatory legal acts in compliance with requirements of the legislation, the National commission on securities and the stock market SOLVED:

1. Approve Changes in the procedures approved by decisions of the National commission on securities and the stock market of May 13, 2021 No. 275 and of October 21, 2021 No. 982, which are applied.

2. To provide to department of methodology of regulation of professional participants of the security market submission of this decision on state registration in the Ministry of Justice of Ukraine.

3. To provide to management of administrative activities promulgation of this decision on the official website of the National commission on securities and the stock market.

4. And internal комплаенс control, after state registration of the decision by the Ministry of Justice of Ukraine to provide to legal support department publication of this decision on the official website of the National commission on securities and the stock market.

5. This decision becomes effective from the date of, its official publication following behind day.

6. Control over the implementation of this decision to assign to the member of the National commission on securities and the stock market Yu. Shapovala.

Approved by the Decision of the National commission from securities of the stock market of September 5, 2025 No. 09/21/2831/K03

Changes in Procedures, the approved decisions of the National commission on securities and the stock market of May 13, 2021 No. 275 and of October 21, 2021 No. 982

1. According to the procedure of issue, suspension and cancellation of the license for implementation of professional activity in the organized goods markets, No. approved by the decision of the National commission on securities and the stock market of May 13, 2021 275, registered in the Ministry of Justice of Ukraine on May 25, 2021 at No. 693/36315:

The paragraph the fourth Item 2 of the Section I after the words "organized goods markets" to add 1) with the words "or in connection with failure to pay the financial sanction (penalty) by the licensee which was inflicted on it as measure of influence of control nature for making of such violation";

2) in the Section IV:

in item 4:

the fourth to exclude the paragraph.

With respect thereto to consider paragraphs of the fifth or seventh respectively paragraphs the fourth or sixth;

in paragraph six of the word "The License Stops for Term" shall be replaced with words "Action of the license stops for term";

after item 4 to add with new Item 4-1 of the following content:

"4-1. Action of the license can be stopped under the separate resolution NKTsBFR in connection with failure to pay the financial sanction (penalty) by the licensee which was inflicted on it as corrective action of control nature, within three months from the date of entry into force of the relevant resolution on application of corrective action of control nature.

Action of the license cannot be stopped if:

within three months from the date of entry into force of the relevant resolution on application of measure of influence of control nature such resolution is appealed judicially and administrative court proceeedings about its appeal are open and concerning it there is no judgment by results of such production which took legal effect;

the relevant resolution on application of corrective action of control nature is cancelled or nullified by a court decision, taken legal effect;

operation of the relevant resolution on application of corrective action of control nature is stopped according to the court order.

Action of the license stops for a period of up to payment by the licensee of the financial sanction (penalty) or for the specific term which cannot exceed 1 year.";

in Item 5 "item 4" to notice the word and figure words and in figures "items 4 and 4-1";

state Item 8 in the following edition:

"8. In case of elimination by the licensee of the bases which became the reason of suspension of action of the license the licensee shall provide at the scheduled time in NKTsBFR the report consisting in any form and containing list of the events held by the licensee for elimination of offense, the documents confirming the accomplishment of these actions, documents confirming elimination of these violations, and/or the document on payment of the financial sanction (penalty).";

in Item 9 shall be replaced with words the word of "violations" "the bases which became the reason of suspension of action of the license".

2. According to the procedure of issue, suspension and cancellation of the license for implementation of professional activity in the capital markets, No. approved by the decision of the National commission on securities and the stock market of October 21, 2021 982, registered in the Ministry of Justice of Ukraine on December 03, 2021 at No. 1563/37185:

The paragraph the fourth Item 2 of the Section I to state 1) in the following edition:

"suspension of action of the license - suspension for certain term (up to one year) actions of the license in case of violation by the licensee of the profile legislation or in connection with failure to pay the financial sanction (penalty) by the licensee which was inflicted on it as measure of influence of control nature for making of such violation";

2) in the Section IV:

in Item 1 of the word "proceeedings about violation of requirements of the profile legislation" shall be replaced with words "conducting consideration of the case about offense";

state Item 2 in the following edition:

"2. In the resolution on application of corrective actions in the form of suspension of action of the license person (persons) of NKTsBFR authorized (representatives) about violation of the profile legislation (further – the representative (representatives) on hearing of cases) specifies consideration of the case (specify) the bases according to which corrective actions in the form of suspension of action of the license are applied. Together with the resolution the representative (representatives) submits the order about elimination of violation of the profile legislation in which it is specified about need of elimination of violations which became the basis for suspension of action of the license, and provision at the scheduled time of the report and documents, stipulated in Item 8 these Sections for hearing of cases.";

state item 4 in the following edition:

"4. Action of the license can be stopped under the relevant resolution NKTsBFR in case of establishment of NKTsBFR of the fact of such violations:

position assignment of the head of the licensee of person which candidacy is not approved by NKTsBFR (provided that the requirement about approval of NKTsBFR of the candidate for the head of the licensee is stipulated by the legislation);

opaque structure of property of the licensee;

essential variation of calculated value of the prudential indicator determined by Regulations on supervision of the observance of prudential standard rates by professional participants of the stock market approved by the solution of NKTsBFR of December 01, 2015 No. 2021, registered in the Ministry of Justice of Ukraine on December 21, 2015 at No. 1599/28044, including, after implementation by the licensee of actions for improvement of the financial condition in time, determined by the specified regulatory legal act;

absence of the licensee on the temporary location;

servicing by the licensee of transactions with securities on accounts in securities without possibility of recovery of information concerning owners of securities and the securities belonging to them;

not message NKTsBFR, issuers or depositors / nominee holders (if such notification is provided by conditions of the relevant contract with this issuer the depositor / the nominee holder or the regulatory legal act) about change of the location of the licensee (for the licensee performing depository activity);

the refusal of the licensee which is not provided by the regulatory legal act NKTsBFR concerning implementation of depository activity and/or the agreement signed between depository institution and the depositor / the nominee holder or the issuer, and/or domestic situation about depository activity of depository institution in carrying out depository operations, creation and provision of the accounting register to Central Securities Depository, the register of owners of securities to the issuer according to the corresponding order, and also entering of obviously doubtful data into system of depositary accounting or evasion from carrying out depository operations;

unacceptance of the licensee by authorized body on the bases established by the legislation, decisions on liquidation of mutual investment fund.

Action of the license stops for a period of up to violation elimination which cannot exceed 1 year, or for the specific term which cannot exceed 1 year.";

after item 4 to add with new Item 4-1 of the following content:

"4-1. Action of the license can be stopped under the separate resolution NKTsBFR in connection with failure to pay the financial sanction (penalty) by the licensee which was inflicted on it as corrective action of control nature, within three months from the date of entry into force of the relevant resolution on application of corrective action of control nature.

Action of the license cannot be stopped if:

within three months from the date of entry into force of the relevant resolution on application of measure of influence of control nature such resolution is appealed judicially and administrative court proceeedings about its appeal are open and concerning it there is no judgment by results of such production which took legal effect;

the relevant resolution on application of corrective action of control nature is cancelled or nullified by a court decision, taken legal effect;

operation of the relevant resolution on application of corrective action of control nature is stopped according to the court order.

Action of the license stops for a period of up to payment by the licensee of the financial sanction (penalty) or for the specific term which cannot exceed 1 year.";

in Item 5 "item 4" to notice the word and figure words and in figures "items 4 and 4-1";

state Item 8 in the following edition:

"8. In case of elimination by the licensee of the bases which became the reason of suspension of action of the license the licensee shall provide at the scheduled time in NKTsBFR the report consisting in any form and containing list of the events held by the licensee for elimination of offense, the documents confirming the accomplishment of these actions, documents confirming elimination of these violations, and/or the document on payment of the financial sanction (penalty).";

in Item 9 shall be replaced with words the word of "violations" "the bases which became the reason of suspension of action of the license".

2. According to the procedure of issue, suspension and cancellation of the license for implementation of professional activity in the capital markets, No. approved by the decision of the National commission on securities and the stock market of October 21, 2021 982, registered in the Ministry of Justice of Ukraine on December 03, 2021 at No. 1563/37185:

The paragraph the fourth Item 2 of the Section I to state 1) in the following edition:

"suspension of action of the license - suspension for certain term (up to one year) actions of the license in case of violation by the licensee of the profile legislation or in connection with failure to pay the financial sanction (penalty) by the licensee which was inflicted on it as measure of influence of control nature for making of such violation";

2) in the Section IV:

in Item 1 of the word "proceeedings about violation of requirements of the profile legislation" shall be replaced with words "conducting consideration of the case about offense";

state Item 2 in the following edition:

"2. In the resolution on application of corrective actions in the form of suspension of action of the license person (persons) of NKTsBFR authorized (representatives) about violation of the profile legislation (further – the representative (representatives) on hearing of cases) specifies consideration of the case (specify) the bases according to which corrective actions in the form of suspension of action of the license are applied. Together with the resolution the representative (representatives) submits the order about elimination of violation of the profile legislation in which it is specified about need of elimination of violations which became the basis for suspension of action of the license, and provision at the scheduled time of the report and documents, stipulated in Item 8 these Sections for hearing of cases.";

state item 4 in the following edition:

"4. Action of the license can be stopped under the relevant resolution NKTsBFR in case of establishment of NKTsBFR of the fact of such violations:

position assignment of the head of the licensee of person which candidacy is not approved by NKTsBFR (provided that the requirement about approval of NKTsBFR of the candidate for the head of the licensee is stipulated by the legislation);

opaque structure of property of the licensee;

essential variation of calculated value of the prudential indicator determined by Regulations on supervision of the observance of prudential standard rates by professional participants of the stock market approved by the solution of NKTsBFR of December 01, 2015 No. 2021, registered in the Ministry of Justice of Ukraine on December 21, 2015 at No. 1599/28044, including, after implementation by the licensee of actions for improvement of the financial condition in time, determined by the specified regulatory legal act;

absence of the licensee on the temporary location;

servicing by the licensee of transactions with securities on accounts in securities without possibility of recovery of information concerning owners of securities and the securities belonging to them;

not message NKTsBFR, issuers or depositors / nominee holders (if such notification is provided by conditions of the relevant contract with this issuer the depositor / the nominee holder or the regulatory legal act) about change of the location of the licensee (for the licensee performing depository activity);

the refusal of the licensee which is not provided by the regulatory legal act NKTsBFR concerning implementation of depository activity and/or the agreement signed between depository institution and the depositor / the nominee holder or the issuer, and/or domestic situation about depository activity of depository institution in carrying out depository operations, creation and provision of the accounting register to Central Securities Depository, the register of owners of securities to the issuer according to the corresponding order, and also entering of obviously doubtful data into system of depositary accounting or evasion from carrying out depository operations;

unacceptance of the licensee by authorized body on the bases established by the legislation, decisions on liquidation of mutual investment fund.

Action of the license stops for a period of up to violation elimination which cannot exceed 1 year, or for the specific term which cannot exceed 1 year.";

after item 4 to add with new Item 4-1 of the following content:

"4-1. Action of the license can be stopped under the separate resolution NKTsBFR in connection with failure to pay the financial sanction (penalty) by the licensee which was inflicted on it as corrective action of control nature, within three months from the date of entry into force of the relevant resolution on application of corrective action of control nature.

Action of the license cannot be stopped if:

within three months from the date of entry into force of the relevant resolution on application of measure of influence of control nature such resolution is appealed judicially and administrative court proceeedings about its appeal are open and concerning it there is no judgment by results of such production which took legal effect;

the relevant resolution on application of corrective action of control nature is cancelled or nullified by a court decision, taken legal effect;

operation of the relevant resolution on application of corrective action of control nature is stopped according to the court order.

Action of the license stops for a period of up to payment by the licensee of the financial sanction (penalty) or for the specific term which cannot exceed 1 year.";

in Item 5 "item 4" to notice the word and figure words and in figures "items 4 and 4-1";

state Item 8 in the following edition:

"8. In case of elimination by the licensee of the bases which became the reason of suspension of action of the license the licensee shall provide at the scheduled time in NKTsBFR the report consisting in any form and containing list of the events held by the licensee for elimination of offense, the documents confirming the accomplishment of these actions, documents confirming elimination of these violations, and/or the document on payment of the financial sanction (penalty).";

in Item 9 shall be replaced with words the word of "violations" "the bases which became the reason of suspension of action of the license".

3) in the Section V:

the fifth Item 9 to state the paragraph in the following edition:

"concerning the licensee on the date of filing of application the decree on the beginning of fixing of violation of the profile legislation is issued and the draft of the act of making of violation of the profile legislation is constituted or the decree on application of corrective actions for making of violation of the profile legislation in the form of cancellation of the license for implementation of professional activity in the capital markets and the organized goods markets is issued; activities in system of accumulative provision of pensions;";

in Item 14 of the word "authorized persons of NKTsBFR" shall be replaced with words "authorized (representatives)";

Item 24 in paragraph one to replace the word "resolutions" with the word "decision";

in paragraph six of the subitem 1 of Item 26 the word "we act" to replace with the word "actions".

 

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