NSSMC and NCSREPU have signed agreement on mutual supervision over energy product market

On April 3, the Head of the National Securities And Stock Market Commission (NSSMC), Ruslan Mahomedov, and the Head of the National Commission for State Regulation of Energy and Public Utilities (NCSREPU), Valerii Tarasiuk, signed an agreement on cooperation between their establishments.

This follows from a statement by the NSSMC, the Ukrainian News agency reports.

The agreement establishes a framework for cooperation and strengthening of interaction between NSSMC and NCSREPU in the supervision of wholesale energy markets and prevention of abuse and unfair competition in wholesale energy market, capital markets, and organized commodity markets.

For this purpose, the parties undertake to exchange information on the wholesale trade of energy carriers, hold working meetings and consultations, as well as create joint working groups to form a unified position on their regulatory policy, take joint measures, and discuss bills and regulatory acts that constitute common interest.

The agreement enters into force from the day of its signing and is valid indefinitely.

The EU project called Assistance to the National Securities and Stock Market Commission in Improving Energy Markets Of Ukraine And Organized Trade In Raw Materials And Commodities In Ukraine started in Ukraine in April 2021 and will last until May 2024.

The goal of the project is to assist the NSSMC in strengthening the regulatory framework, ensuring the development of commodity market tools, ensuring interaction between regulators and methods of commodity market supervision, and taking into account European and international standards and best practices.

As the Ukrainian News agency earlier reported, the NSSMC informs that from the beginning of 2024, it will stop maintaining the State Register of Financial Institutions in connection with the loss of validity of the law On Financial Services and State Regulation of Financial Services Markets.