Measure
2.4.4.6.5. Clearing the draft Regulation indicated in subclause 2.4.4.6.4 with the concerned agencies
Measure status:
Actual execution date:
23.02.2024
The measure is aimed at achieving ESR:
2.4.4.6. Effective mechanisms for verification of information on the ultimate beneficial owners of legal entities under private law in the Unified State Register of Legal Entities, Individual Entrepreneurs, and Public Associations have been introduced
Problem solving:
2.4.4. A high level of tolerance of corruption in the private sector of the economy
Deadlines:
Responsible implementors (authorities):
Ministry of Finance of Ukraine
Sources of funding:
state budget
Volumes of financing (thousand UAH):
within the established budget allocations for the relevant year
Performance indicator:
The draft Regulation has been cleared with stakeholders.
Implementing status
Progress/Result of implementation:
1) The National Commission on Securities and Stock Market, by letter dated February 28, 2023 No. 09/02/1965, sent a draft decision of the National Commission on Securities and Stock Market On Approval of the Regulation on the Form and Substance of the Structure of Ownership (hereinafter - the draft decision of the NCSSM) to the Ministry of Finance of Ukraine for approval.
2) On April 13, 2023, at the suggestion of the Ministry of Finance of Ukraine, a meeting was held with representatives of the National Commission on Securities and Stock Market, the Ministry of Finance of Ukraine, the Ministry of Digital Transformation of Ukraine and the National Bank of Ukraine to discuss issues related to the refinement of the draft decision of the NCSSM (letter of the Ministry of Finance of Ukraine dated April 03, 2023 No. 20/01-08/5755).
Based on the results of the meeting, the Ministry of Finance of Ukraine decided to submit its proposals to the draft decision of the NCSSM.
3) The Ministry of Finance of Ukraine provided its comments on the draft decision of the NCSSM by letter dated May 18, 2023 No. 26110-04-10/13577.
On June 5, 2023, a meeting was held in a telephone format with the participation of representatives of the National Commission on Securities and Stock Market and the Ministry of Finance of Ukraine to discuss the comments made by the Ministry of Finance of Ukraine on the draft decision of the NCSSM.
4) On June 08, 2023, the draft decision of the NCSSM, refined in accordance with the comments of the Ministry of Finance of Ukraine, was sent to the Ministry of Finance of Ukraine for approval.
5) By decision of the NCSSM dated June 27, 2023 No. 715, the revised draft decision of the NCSSM was approved, taking into account the comments and suggestions of the Ministry of Finance of Ukraine and proposals received from capital market participants.
6) The National Commission on Securities and Stock Market, by letter dated June 28, 2023 No. 09/6877, resubmitted the refined draft to the Ministry of Finance of Ukraine for approval.
7) The Ministry of Finance of Ukraine, by letter dated August 4, 2023 No. 26110-04-10/21392, again provided its comments on the draft decision of the NCSSM.
8) By the decision of the NCSSM dated August 21, 2023, No. 911, the refined in the second time draft decision of the NCSSM was approved, taking into account the comments and suggestions of the Ministry of Finance.
9) The NCSSMC sent the revised draft to the Ministry of Finance for approval by letter dated August 22, 2023 No. 09/02/8933.
10) On November 23, 2023, the Ministry of Finance (invitation letter No. 26110-04-10/31392 of November 15, 2023) held a harmonization meeting with the National Securities and Stock Market Commission in the form of a video conference.
Based on the results of the meeting, the NCSSMC prepared the refined in the fourth time draft, which was sent to the Ministry of Finance for approval.
11) By the decision of the NCSSMC dated January 25, 2024 No. 104, the refined in the third time draft decision of the NCSSMC was approved, taking into account the comments and suggestions of the Ministry of Finance.
12) The NCSSM sent the refined draft for approval to the State Financial Monitoring Service, the Ministry of Digital Transformation and the Ministry of Finance, respectively, by letters No. 09/02/2460, No. 09/02/2477 and No. 09/02/2476 dated January 26, 2024.
13) The Draft Decision of the NCSSM On Approval of the Regulation on the Form and Substance of the Structure of Ownership was approved by the Ministry of Finance (letter dated February 1, 2024 No. 26110-04-10/3220), the State Financial Monitoring Service (letter dated February 15, 2024 No. 602/320-06-2) and the Ministry of Digital Transformation (letter dated February 20, 2024 No. 1/04-2-2611).