BaFin and the Ukrainian National Securities and Stock Market Commission (NSSMC) have signed an institutional partnership agreement, expanding their existing cooperation.
Mark Branson, president of BaFin, and Ruslan Magomedov, chairman of the NSSMC, signed the agreement in Bonn on 17 June.
Through the partnership, BaFin aims to expand effective public administration structures in Ukraine by supporting reform processes, modernising administrative structures through practice-oriented cooperating and enhancing information exchange between the supervisory authorities.
BaFin will support the NSSMC’s implementation of existing EU legislation (the acquis communautaire), and plans to run joint online workshops with NSSMC over the coming months on topics including non-state pension funds and the supervision of annual financial statements.
Commenting on the partnership, Branson said: “Our teams quickly developed great mutual trust, and we are already exchanging a good deal of information. With the institutional partnership, we are now taking the next step and emphasising that we plan to cooperate closely in the long term – especially with a view to Ukraine’s potential accession to the EU.”
©Markets Media Europe 2024
