The NSSMC has allowed outsourcing for professional market participants: new rules have been approved

The National Securities and Stock Market Commission has approved new rules that allow professional market participants to officially engage third-party specialists or companies to perform certain functions on an outsourcing basis.

As noted by the Commission, the innovations are aimed at modernizing the market and bringing Ukrainian legislation into line with European standards.

According to the new requirements, external executors must meet a number of criteria. In particular, they must have sufficient resource potential, qualified personnel, appropriate work experience and impeccable business reputation.

In addition, the profile of the executor must correspond to the tasks assigned to him.

The NSSMC emphasizes that the implementation of a transparent outsourcing mechanism will allow companies to more effectively optimize operating costs, without violating the rights and legitimate interests of investors.

At the same time, the Commission emphasizes the key principle of the new model: the transfer of certain functions to outsourcing does not mean the transfer of responsibility.

Even if a company delegates to external performers, for example, internal audit, IT support or other processes, full responsibility to clients and the regulator remains with the professional market participant himself.

The Commission believes that the new rules will contribute to increasing the transparency, efficiency and sustainability of the Ukrainian financial sector, as well as create more predictable conditions for the development of the investment market.