Commenting on the approved governmental draft bill "On stock market private investments guarantee system", vice PM of Ukraine Serhiy Arbuzov declared that Ukraine would be able to strengthen protection of private investors of stock market and guarantee them reimbursement in case an investment company is unable to meet its obligations.
"If the draft bill is adopted, we will have legal grounds to establish the Private Investments Guarantee Fund in Ukraine. Similar structures function everywhere in Europe, for example, enabling members to bear shared responsibility before investors," Arbuzov underlined.
According to him, the document stipulates that one-time fee of Fund's members will make about 1% of the core capital, while current fees - 0.1% of the quarterly average private investment cost. According to the authors of the bill, such approach enables to set the size of reimbursement at the level of 90% of unrecovered investments.
The vice PM also pointed out that the draft bill is aimed at bringing Ukrainian legislation in line with the requirements of the EU legislation. "All EU members must have similar systems for protection of small investors, thus this document is one of Ukraine's tasks within the European integration processes," Arbuzov said.
After the approval of the Cabinet the draft bill is to be submitted to the parliament.
"If the draft bill is adopted, we will have legal grounds to establish the Private Investments Guarantee Fund in Ukraine. Similar structures function everywhere in Europe, for example, enabling members to bear shared responsibility before investors," Arbuzov underlined.
According to him, the document stipulates that one-time fee of Fund's members will make about 1% of the core capital, while current fees - 0.1% of the quarterly average private investment cost. According to the authors of the bill, such approach enables to set the size of reimbursement at the level of 90% of unrecovered investments.
The vice PM also pointed out that the draft bill is aimed at bringing Ukrainian legislation in line with the requirements of the EU legislation. "All EU members must have similar systems for protection of small investors, thus this document is one of Ukraine's tasks within the European integration processes," Arbuzov said.
After the approval of the Cabinet the draft bill is to be submitted to the parliament.
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