For many years, Ukrainian capital markets have barely functioned
due to significant gaps and inconsistencies in the underlying
legislation. The new law No. 2284 “On amendment of certain
laws with respect to investments and new financial
instruments” (the “New Law“)
which was officially published on 15 August 2020 aims at restarting
Ukrainian capital markets. It brings Ukrainian legislation in line
with key provisions of the EU laws on capital markets (MiFID II,
MiFIR, EMIR, Settlement Finality Directive and Financial Collateral
Directive). The New Law creates a framework for an updated capital
markets infrastructure and regulates commodity markets and
derivatives matters.
The main highlights of the New Law:
