RADA ADOPTS BILL ON DERIVATIVES MARKET FUNCTIONING IN UKRAINE
Date: 31.03.2016. Section: Press Review, Trends in Insurance, Top
The parliament at first reading passed a draft law on amendments to certain legislative acts of Ukraine (regarding regulation of the market of derivatives, No. 3498), registered on November 20, 2015.
Some 237 deputies voted for the corresponding bill.
The law provides for the creation of legal framework for exchange and off-exchange derivative financial instruments, introduction of financial support mechanisms, finalization of payments in accordance with EU directives, introduction of a concept of qualified investors and establishment of common standards for the regulation of the commodity exchange market.
According to the authors of the bill, this will help diversify financial instruments and contribute to the development of the commodity exchange market.
Following this document, the Verkhovna Rada adopted the related draft laws on amending the Tax Code of Ukraine (concerning regulated markets and derivatives, No. 3499), on amendments to the Budget Code of Ukraine (concerning regulated markets and derivatives, No. 3500 and amendments to the Customs Code of Ukraine (on the regulated markets and derivatives, No. 3516).