EUROPEAN PROFILES S.A

Print PDF

TITLE OF PROJECT

Gap Analysis of Ukrainian Legislation Versus the EU Market in Financial Instruments Directive (MiFID)

Country:

Ukraine

Project Period:

01/2009-06/2009

Project Value:

€ 114.170

No of Staff Provided:

3

Origin of Funding:

EC TACIS

Name of Client/ Beneficiary:

Ukrainian Legislative and Regulatory Authorities

Description of Project:

The overall objective of the present project is to contribute to the closer integration of Ukraine in the financial services market, in line with the objectives of the EU-Ukraine Action Plan and shared objective of the Programmatic Technical Assistance Partnership (PTAP).

Services Provided:
  • Detailed comparative analysis of the Ukrainian legal and regulatory framework laws, including secondary legislation, concepts and strategies, standards and rules on capital markets and non-bank financial institutions versus the Level 1 and Level 2 requirements of as outlined in the MiFID EC Directive.
  • Analysis of the short-term and mid-term impact of approximation to MIFID for market regulators and market participants, such as banks, investment firms, advisory services providers, exchanges, etc., based on the experience gained in EU member States.
  • Assistance in the organization of three presentations to the donors and international organisations, to the relevant Ukrainian Authorities and to the Committees of the Verkhovna Rada of Ukraine.
  • Elaboration of a Report on the comparative analysis of the Ukrainian capital markets and non-bank financial institutions (NBFIs) legislation, including keys draft laws still pending, versus an implemented MiFID reference and highlighting the approximation impact assessment.
  • Elaboration of three scenarios of approximation measures of capital markets and NBFI's in Ukraine, permitting to progressively eliminate the highlighted gaps. The scenarios (fast, moderate and gradual) will indicate measures ranked by priority and complexity.

Name of Partners:
  • DFC S.A.
  • ECF SpA