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Study visit and signing of the Memorandum of understanding with the Ukrainian capital market regulator


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Published: 29. August 2022.

The Croatian Financial Services Supervisory Agency (Hanfa) signed a Memorandum of Understanding (MoU) with the National Securities and Stock Market Commission of Ukraine (NSSMC).

The signing took place on August 29 in Zagreb, Croatia as part of a study visit by representatives of the Ukrainian capital market regulatory authority, which represents a continuation of the technical cooperation that began in 2019. The topic of the study visit is the harmonization of legislation with the EU acquis in the field of UCITS and alternative investment funds, and was organized as part of a European Union project that provides support in harmonization of legislation in the field of financial services.

“Since Ukraine has recently become a candidate for full membership in the European Union we are aware that the National Securities and Stock Market Commission will face significant challenges in achieving full regulatory alignment and institutional capacity to operate within the EU legal framework. Hanfa as a competent authority for supervision of financial services of the Republic of Croatia which has a relatively recent experience with the accession process, is ready to provide technical assistance and share our experience,” said the President of the Board of Hanfa, Ante Žigman, in an address to colleagues from Ukraine. At the same time, he emphasized: ” We are aware of difficult circumstances which your country is currently in, due to the ongoing Russian aggression, and admire your ability to ensure the functioning of the National Securities and Stock Market Commission and to continue with the activities needed to achieve your objectives.”

“The international support of our partners around the world allows our country to stand today in the fight for our independence. NSSMC and HANFA will fruitfully cooperate for the development of the Ukrainian capital market and the economic future of Ukraine. We thank our colleagues from HANFA and we are confident in the effective results of our work”, – Maksym Libanov, NSSMC Commissioner, emphasized.

Along with the representatives of NSSMC and Hanfa, the Ambassador Extraordinary and Plenipotentiary of Ukraine in the Republic of Croatia, H.E. Vasilj Kirilić attended the signing of the Memorandum. “One would think that because of the brutal aggression of Russian Federation against Ukraine, life should stop, but today’s visit by the Ukrainian delegation shows that this is not the case,” the ambassador pointed out. “Today, I would like to thank the Republic of Croatia for its strong support to Ukraine. It is a lesson on how to support a friendly nation. Thank you for enabling the signing of the memorandum and holding of this study visit at a very sensitive moment for Ukraine.”

The Memorandum envisages technical cooperation in the area of ​​joint competence, which includes supervision of the capital market and pension funds, while the form of technical cooperation includes the exchange of experience, study visits, expert missions, workshops, etc.

This news item was originally published by the Croatian Financial Services Supervisory Agency (HANFA HR). For more information, see the Source Link.

Regulator Information

Abbreviation: HANFA
Jurisdiction: Croatia

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