Securities Commission bans withdrawal of securities of foreign issuers from Ukraine from January

The National Commission for Securities and Stock Market (Securities Commission) has decided to ban the withdrawal of securities of foreign issuers from the depository accounting system for the period of martial law from January 1, 2025.

This is stated in the commission's message, Ukrainian News Agency reports.

Thus, the commission fulfills the requirements of the Memorandum on Economic and Financial Policy (MEFP) of the IMF's Extended Fund Facility (EFF).

The specified changes were approved by the National Bank of Ukraine in order to harmonize national currency legislation.

The main details of the decision are that the writing-off of securities of foreign issuers from the depository accounting system is prohibited, except in the cases of:

• conducting corporate transactions of the issuer;
• bringing the number of securities in the accounts of the Central Depository into line with the data of international depository institutions.

Irakliy Baramiya, a member of the Securities Commission, reported that for eight months the commission held meetings within the framework of negotiations with the IMF and the NBU to find a satisfactory solution for the capital markets.

This decision was a compromise, since the agenda included the issue of a complete ban on the admission and trading of securities of foreign issuers in the territory of Ukraine.

As Ukrainian News Agency earlier reported, the Securities Commission previously included a number of cases in the list of unreliable investment projects.