On 19 June 2020, the Ukrainian Parliament adopted law (draft law No. 2284) aimed at creating a new design of financial markets in Ukraine and introducing sweeping new changes to regulation of financial instruments (the Law). The Law has also paved the way for a wide range of new financial instruments such as derivatives, green bonds, loan notes, and other structured finance products. In terms of harmonisation efforts, this Law is based on the key provisions and standards of the EU regulation (MiFID II, MiFIR, and EMIR).
Broadly speaking, we have summarised the main conceptual features of the new Law:
- a new model of financial market infrastructure;
- a new client categorisation;
- market sounding;
- new types of financial products available on the local market;
- master agreement documentation;
- close-out netting.
To read our complete summary, please click here.