NKCPFR announced the cancellation of the requirement for mandatory certification

The National Commission for Securities and the Stock Market (NCSCFR) announced the cancellation of the requirement for mandatory certification of employees of professional capital market participants. From now on, a specialist's certificate is not required to work in this field either to obtain a license or to carry out professional activities.

This decision was announced by the press service of the regulator. It is important to note that the changes will take effect not only during martial law, but also after its end. The NCCPFR made this decision on the basis of new legislative changes, which excluded the authority of the regulator regarding the certification of specialists.

"Since the beginning of our tenure, we have fought against this outdated structure, when the employee and the director had to receive a certificate every three years. We have put a lot of effort on this path, so that today we can say that certificates are not needed. Finally, this archaism is in the past. It is only beginning, we are determined to reformat the functionality of the regulator, to become accessible and convenient for market participants," said Ruslan Magomedov, the Chairman of the NCCPFR.

In particular, the 2013 Regulation on the Certification of Specialists in Capital Markets and Organized Commodity Markets has been recognized as invalid by the NCCPFR. This became possible thanks to changes in Law No. 3585-IX, which revised the list of powers of the regulator.

The decision to cancel the mandatory certification of employees is considered a significant step towards deregulation and simplification of doing business in the financial markets of Ukraine. This will allow relaunching the functionality of the NCCPFR in accordance with modern challenges and requirements.

The move is also intended to make capital markets more accessible to new entrants, lowering barriers to entry and stimulating the development of the financial sector. Simplifying regulatory requirements will attract more investment and contribute to the growth of the economy as a whole.

According to experts, such changes will have a positive impact on the professional capital market, as the removal of bureaucratic obstacles will contribute to more efficient functioning of the market and the attraction of new players.