Ukraine would be able to
strengthen the protection of private investors that operate at the stock market
guaranteeing them compensation in the event of failure of an investment firm to
meet its obligations. That was started by the First vice Prime Minister Serhiy Arbuzov, commenting
approved at today's cabinet meeting the government's draft law on the System of
guaranteeing individual investment at the stock market, the bill was designed by
the NCSSE (National Commission on Securities and Stock Exchange).
"In the case of
adoption by Verkhovna Rada of the document, we will get the legal basis for the
creation of the individuals’ investment guaranteeing fund. There are similar
structures, for example, everywhere in Europe,
enabling all professional participants of the stock market bear joint liability
before investors," Serhiy Arbuzov
said. According to him, the bill provides that the one-time contribution of fund’s
members to make up about 1 % of the share capital and current contribution – 0.1%
of quarterly rate of value of individuals’ investments. This, according to the
authors of the bill, will determine the amount of compensation payments of 90% of
unreturned investment.
The First vice Prime
Minister particularly emphasized the fact that the document is aimed at
bringing the legislation of Ukraine
in accordance with the requirements of EU legislation. "All the EU Member
States are obligated to have the scheme to protect small investors, so the
adoption of the document is a task for Ukraine within European integration
process," Serhiy Arbuzov
said.
After the conducting
all necessary proceedings the bill approved by the Cabinet of Ministers will be
registered in the Parliament.
