Securities commission to approve program of stock market development for 2011-2015 in October
Kyiv, September 27 (Interfax-Ukraine) – The State Commission on Securities and the Stock Market has completed the plan of a program from Ukrainian stock market development until 2015 and plans in early October to submit the required documents to the Cabinet of Ministers for approval, Commission Head Dmytro Tevelev has said at a press conference at Interfax-Ukraine.
"We have approved a draft document and are starting a campaign on its discussion. We will have a number of conferences, meetings with scientists, state services, at which the program will be expanded. The final draft has to be prepared by early October 10, and then the document will be submitted to the government for approval," he said.
According the securities commission head, the draft program defines the main tasks of the stock market, including increasing its capitalization, liquidity and transparency, improving the market infrastructure and ensuring its effective functioning. The program also includes measures to improve the mechanisms of state regulation. Along with this, Tevelev said that the document changes the aspects of the regulator's activity with regard to its relationship with the market. Thus, according to him, the securities commission is intending to abandon planned checks, as they do not providing proper results.
In addition, according to Tevelev, extremely important aspects of the program include the protection of investors' rights, as well as the fiscal and monetary stimulation of stock market development.