NOTIFICATION PURSUANT TO ARTICLE III:3 OF THE
GENERAL AGREEMENT ON TRADE IN SERVICES

The following notification from the delegation of Ukraine, dated 23 April 2024, is being circulated to Members of the Council for Trade in Services.

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1  MEMBER NOTIFYING:

Ukraine

2  NOTIFICATION UNDER:

Article III:3 of the General Agreement on Trade in Services

3  DATE OF ENTRY INTO FORCE:

2 April 2024

3.1  Duration:

Indefinite

4  AGENCY RESPONSIBLE FOR ENFORCEMENT OF THE MEASURE:

National Securities and Stock Market Commission

5  DESCRIPTION OF THE MEASURE:

Full title of the Law:

The Resolution of the National Securities and Stock Market Commission No. 208 "On Approval of the Licensing Conditions for Professional Activity in the Capital Markets – Financial Instruments Trading" of 21 February 2024

Brief summary of the content with a focus on potential effect on services trade:

The National Securities and Stock Market Commission has approved the Licensing conditions for professional activity in the capital markets – financial instruments trading (hereinafter referred to as the Licensing conditions) by its Resolution No. 208 of 21 February 2024.

These Licensing conditions set forth the requirements mandatory for obtaining a licence to carry out activities in financial instruments trading by its specific types and while carrying out these types of activities in the capital markets, the list of documents to be submitted by the applicant to obtain a licence, peculiarities of combining types of activities in financial instruments trading among themselves and with other types of activities, including professional activities in capital markets and organised commodity markets, and while carrying out professional activities in financial instruments trading.

The Licensing conditions cover the following types of financial instruments trading activities: sub-brokerage activity; brokerage activity; dealership activity; financial instruments portfolio management activity; investment consulting; underwriting and/or placement activity with a guarantee; placement activity without a guarantee.

The Licensing conditions were developed to align the regulatory framework with the requirements of the legislation in this area and to implement EU legislation.

6  MEMBERS SPECIFICALLY AFFECTED, IF ANY:

None

7  TEXTS AVAILABLE FROM:

Official website: https://zakon.rada.gov.ua/laws/show/z0349-24#Text

(available in Ukrainian)

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