13:18 18.11.2015

Securities commission decides to annul Ukrainian Exchange's license

2 min read
Securities commission decides to annul Ukrainian Exchange's license

The National Commission for Securities and the Stock Market of Ukraine has decided to revoke the license of public joint-stock company Ukrainian Exchange (Kyiv) for the organization of trading on the stock market.

The commission said in a press release that the decision was made in line with the law on licensing certain types of economic operations, according to which the grounds for revoking licenses is a document confirming the fact of control over the operations of the license holder by persons of other states-aggressors against Ukraine.

"Under a request of the commission Ukrainian Exchange provided information on the structure of its owners, according to which 43.08% of its shares directly and indirectly belong to Russia's Moscow Exchange. Dragon Capital and Univer Capital provided information that they could buy these shares. The commission waited fro six weeks for the concrete results in the change of the structure of ownership, however the sides did not show the respective progress," the commission said.

The decision will take effect in 30 calendar days. It can be appealed in the expert board of appeals for licensing issues at the State Regulatory Service of Ukraine and/or in court.

As reported, the Moscow Exchange supervisory council on September 23, 2015 approved the proposal of the management to exit assets in Ukraine.

Moscow Exchange on November 16 signed an agreement to sell the stake in Ukrainian Exchange to a specially created foreign enterprise, controlled by Ukrainian investment company Univer Capital (Kyiv).

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