NBU official appeals in court against refusal to approve him as head of the National Depository

Head of the Corporate Rights and Depository Activities Department of the National Bank of Ukraine Andriy Suprun appealed to the court due to the refusal of the National Securities and Stock Market Commission to approve his candidacy for the position of Chairman of the Board of the National Depository of Ukraine.

The Kyiv District Administrative Court has already opened proceedings in the case. The preparatory meeting is scheduled for October 21, 2026.

The court also involved the National Depository of Ukraine as a third party and requested from the NSSMC all materials that were taken into account or should have been taken into account when making the disputed decision.

Why did the NSSMC not approve Suprun’s candidacy

The NSSMC refused to approve Andriy Suprun’s candidacy on July 3.

The commission drew attention to the fact that he was previously a member of the Supervisory Board of the National Depository and participated in the preparation and conduct of the competition for the position of Chairman of the Board, in particular in interviews with candidates. At the same time, as an NBU employee, he was involved in the oversight of the National Depository.

The regulator also pointed to a potential conflict of interest. Suprun heads the supervisory board of the central clearing institution PJSC “Settlement Center”, which also includes members of the supervisory board and the NDU nomination committee Olena Dyatlova and Oleg Mistyuk.

Suprun disagrees with the regulator’s decision

Andriy Suprun himself considers the NSSMC resolution unfounded. In his opinion, the Commission’s conclusions are not supported by proper evidence and were made without a full investigation of the circumstances.

The plaintiff also believes that the regulator did not establish a proper connection between the declared conflict of interest of third parties and the conclusion that his candidacy does not comply with the requirements of the law.

Suprun won the competition for the position of NDU chairman

On May 29, the Supervisory Board of the National Depository determined Andriy Suprun as the winner of the competition for the position of chairman of the board.

The final decision should be made by the shareholders’ meeting. The National Depository noted that they will be convened after the approval of Suprun’s candidacy by the regulator – the National Securities and Markets Commission.

The National Depository of Ukraine has the status of a central securities depository. As part of the reform of the capital markets infrastructure, it is planned to further consolidate depository services on the basis of the NDU and transfer to it from the National Bank the functions of accounting and servicing the circulation of government bonds.