A draft resolution has been adopted
At its meeting, the State Securities and Stock Market Commission of Ukraine has approved the draft resolution On Endorsement of Procedure for Guaranteeing Security Ownership in Case of Non-availability of Documents in the Inscribed Stock Registry in relation to a certain type of issued securities, the press-office of the Ukraine’s SSSMC reports.
«The procedure detailed by the Committee sets out sequence of steps to be undertaken by participants involved in the process of restoration of the information about owners of securities if required data is not available in the registry. What is meant here is actions to be made by an issuer, the Central Depositary, including the owners of securities, depositary institutions so that to restore the records about registered securities of a particular issue. So, embedding this process implies the creation of preconditions that make it possible to keep securities in book-entry form after an appropriate decision is made by the issuer, - Irina Kurochkina, Head of Depositary and Clearing Operations at the SSSMC.
Importantly, this regulatory document has been worked out in conformity with the Law of Ukraine On Government Regulation of Securities Market in Ukraine, with the purpose of ensuring the rights of investors to registered securities.
