09:16 22.08.2023

Hetmantsev hopes to return clients' access to assets in sanctioned Freedom Finance after ten months of securities commission's inactivity

2 min read
Hetmantsev hopes to return clients' access to assets in sanctioned Freedom Finance after ten months of securities commission's inactivity

The Parliamentary Committee on Finance, Taxation and Customs Policy at its meeting on August 22 will hear the National Securities and Stock Market Commission in connection with the ten-month lack of access for clients of Freedom Finance Ukraine LLC, which fell under sanctions, to their assets – about UAH 250 million invested in government securities.

“If we talk about Freedom Finance, then there is not a single objective reason why the securities commission is delaying resolving this issue. I published the figure: approximately 2,500 Ukrainians who invested in war bonds have had them blocked for ten months. The commission is not taking any measures to unblock them,” said Danylo Hetmantsev, head of the committee, in an interview with Interfax-Ukraine.

He recalled that the committee had sent a detailed inquiry about the activities of the commission on this issue, but received "a short story in the spirit of Ostap Vyshnia, where brilliant folk humor is combined with unsurpassed verbal tightrope walking in order to avoid direct answers to fairly simple questions."

According to Hetmantsev, the securities commission did not provide most of the requested documents, as well as clear and understandable explanations regarding its inability or unwillingness to protect the rights of investors within ten months.

“Now we see from the available materials that the regulator is more concerned with the issue of how to save a sanctioned entity rather than with the interests of those people whose money this company operates with. This is absolutely unacceptable. I think that based on the results of consideration by the committee, we will come to certain conclusions, we will move this issue exactly from the place where it has been for ten months," the head of the committee said.

He specified that the committee meeting would be broadcast. Affected contributors can join by first sending specific questions.

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