Securities Commission to correct the principles of disclosure by issuers of securities

The State Commission on Securities and Stock Market has decided to "On amending some legal acts of the State Commission on Securities and Stock Market (the disclosure of information by issuers of securities), the press office of the commission. This decision provides for amendments to the Regulations on information disclosure by issuers of securities and the provisions on disclosure of information by issuers of shares and bonds of companies located in listing an organizer of trade. "preparing these changes, the commission aimed to improve the legal framework regulating the process of information disclosure by issuers of securities - says the commission's decision Burmaka Nicholas, a member of the Securities Commission. - Because the new implementation will help to avoid conflicts in the legal acts of the commission. It will also take into account the norms of Articles 20, 64 and 65 of the Law of Ukraine "On Joint Stock Companies" in determining the order of disclosure by issuers of securities singular information about the change of owners of 10 or more of the voting shares of the issuer. This is especially true because the corporate sector is in the process of dematerialization of securities and issuers the opportunity to receive information from the consolidated accounting roster provided by the Depositary. "within the terms of disclosure in the Regulation № 1591 also provides in conformity with the requirements of Article 253 of the Civil Code of Ukraine. In this case, it is important to note that issuers will make such changes do not further innovations. The decision of the Commission is currently submitted for state registration in Ministry of Justice and will enter into force 10 days after its official publication.