The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”

The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”

26.11.2015 News

The Commission on Securities and Stock Market of Ukraine suspended the licenses of The Law of Ukraine “On licensing certain types of economic activity” valid from the 28th of June 2015 states that economic entities may be deprived of licenses if they are controlled by the aggressor country. On the 17th of November 2015 the Commission has deprived a license from “Ukrainian Exchange”, because it is a subsidiary of the Russian “Moscow Exchange”. However, this decision was made although it is known that “Moscow Exchange” recently was going to sell its shares to Ukrainian enterprises. According to preliminary data, the new shareholder of 23% could be the company “Univer Capital”, and the others planned to sell the IR Dragon Capital, but at the last moment an agreement on the sale of shares has been “frozen”.

The Commission has commented on the decision referring to n. 9 hr. 2 of Article 16 of the Law of Ukraine “On licensing certain types of economic activity”, according to which the cause of revocation of the license is proving the fact that the subject in some way affects and influence people in other countries which carry out armed aggression against Ukraine.

The decision was announced by Timur Hromaevym the head of the Comission who said that the law equally affects all market participants. If it was a proof of serious intentions of Ukrainian enterprises in the purchase of “Ukrainian Stock Exchange”, then they would be given the chance to do so, but he did not see any changes. At the moment, the situation in the stock market is moving towards a system reboot and harmonizing capital market with international standards.

In the case of deprivation of licenses for that reason we have precedents. The Commission on Securities and Stock Market of Ukraine has selected a license from another “daughter” “Moscow Exchange” – the PFTS. The company is now trying to challenge the Commission’s decision and is continuing its exchange activity, but still there is a risk that the PFTS will leave the Ukrainian market.

In case of such events the stock market has presented several versions of events. Perhaps the Commission adopted a decision not to spoil the reputation, because it was suspected that its management practices seek to create a “single point of liquidity” at the base of UE, denying licenses of all other platforms. Another version was that some of the participants in the transaction after the revocation of the license will be able to get the “best price”.

However, the Commission’s decision on the withdrawal of the license, “Ukrainian Exchange”, still looks ambiguous. The companies should have been given more time to make a deal, and they brought it to the end. There was also the factor that the sales procedure was complicated by nuances of Ukrainian legislation, in order to buy the UE, customers had to use a non-resident company, since the purchase of shares of a Ukrainian company currency is not allowed. And specially for this was created foreign enterprise, which controls the investment company “Univer Capital”.

Other articles

  • Pfizer reported earnings below estimates and lowered its annual forecasts
    News

    Pfizer reported earnings below estimates and lowered its annual forecasts

    Shares of Pfizer decreased by 3.2% since the beginning of the year, fell by 1.65% on Tuesday after the company announced the results of the third quarter, which ended on September 30. Pfizer reported a 4% drop in earnings per share (compared to the same quarter in 2019) to $ 0.72, but this was slightly […]

  • Zelensky commented on the court’s decision to dismiss NABU head Sytnyk
    News

    Zelensky commented on the court’s decision to dismiss NABU head Sytnyk

    The President’s Office stated that the decision of the Kyiv District Administrative Court (KDAC) to dismiss NABU Director Artem Sytnyk could not be considered final, as it would be appealed. This was announced on Tuesday, October 27 by the press service of the President’s Office. The President also noted that any differences over anti-corruption bodies […]

  • There will not be enough vaccines for all EU citizens in 2021
    News

    There will not be enough vaccines for all EU citizens in 2021

    Next year, only a small proportion of people in the European Union will be able to get the coronavirus vaccine. Officials in European countries have not yet decided on the vaccination of citizens. This was announced by Reuters on Tuesday, October 27. “By the end of 2021, there will not be enough doses of the […]

  • Visa and JPMorgan Chase are launching apps for contactless payment system for sellers
    News

    Visa and JPMorgan Chase are launching apps for contactless payment system for sellers

    On Tuesday, JPMorgan Chase announced the launch of its mobile payment service QuickAccept, and on Wednesday, Visa launched its application called Tap to Phone. The purpose of both programs is to offer sellers an easy way to accept contactless payments from customers via a smartphone or tablet. According to Visa, in the context of the […]

  • AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
    News

    AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers

    Shares of AT&T, which have lost 27.6% of value since the beginning of the year, rose up to 5.8% on Thursday after the publication of better-than-expected Wall Street analysts, earnings for the 3rd quarter, which ended on September 30. AT&T reported earnings per share of $ 0.76, which is 19% below last year’s value, but […]

  • Tesla began supplying Model 3 Chinese sedans to Europe
    News

    Tesla began supplying Model 3 Chinese sedans to Europe

    Tesla Inc. of Elon Musk will export Model 3 electric cars made in China to Europe. This was reported by the Interfax-Ukraine news agency with reference to the company’s statement. The first batch of 7,000 cars will be shipped from the port of Shanghai on October 27. They are expected to reach the Belgian port […]

  • Australia will build the world’s largest power plant
    News

    Australia will build the world’s largest power plant

    The Guardian reported that Sun Cable has announced the construction of the world’s largest solar panel power plant worth $ 20 billion. It will be located between the Australian cities of Darwin and Alice Springs, and its capacity will be 10 GW. The project plan has already been submitted to the Environmental Protection Office of […]

  • Alibaba will acquire part of the shares during the IPO of the Ant Group
    News

    Alibaba will acquire part of the shares during the IPO of the Ant Group

    Chinese Internet company Alibaba will buy more than a fifth of the shares of its division, specifically of a fin-tech company Ant Group, as part of its future IPO on the stock exchanges of Hong Kong and Shanghai, Alibaba said in a release. “Alibaba has agreed to subscribe for 730 million shares of the initial […]

Read also

The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”
News

The largest telecommunication companies in France – Orange and Bouygues announced about their merger

Two of the biggest telecom operator in France, recently reported about their intentions to merge. The amount of the transaction and its details were not disclosed at the moment. This is not the first attempt to conclude an agreement on the merger, talks between the parties were conducted in the past year, but companies  could […]

Next
The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”
News

In Ukraine will be implemented the EU standards for the mobile communication

European standards for the mobile communication in Ukraine will take effect by the end of 2021. According to the standards, the Cabinet of Ministers at the meeting on September 30 approved the plan to improve the quality of mobile communications. It involves the transition to the European approaches for informing users about the level of […]

Next
The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”
News

A shareholder of Alfa-Bank Ukraine became an investor of Uber

The LetterOne Holding (L1), one of whose shareholder is the billionaire Mikhail Fridman (who was born in Lviv, and who is one of the shareholders of Alfa-Bank Ukraine), invested $ 200 million in Uber  taxi service. This is stated in the message of LetterOne. “I am very pleased with our strategic partnership with Uber. As […]

Next
The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”
News

Switzerland will buy 4.5 million doses of coronavirus vaccine from Moderna

The Swiss government has signed an agreement with the American biotechnology company Moderna, which will provide the country with early access to the coronavirus vaccine. Under the agreement, Switzerland will receive 4.5 million doses of the vaccine. Following this news, Moderna shares on the market on August 7 increased by 1.68% and reached $ 75. […]

Next
The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”
News

Hungarian businessmen are ready to develop Ukrainian winemaking

Hungarian businessmen interested in the wine industry in Ukraine. They are willing to invest and develop the wine industry with a view to the sale of Ukrainian wines in Europe. This interest was announced during a meeting of Taras Kutovoy, the Minister of Agrarian Policy of Ukraine and Industry with Erno Keshkenom, Hungarian Ambassador to […]

Next
The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”
News

Americans bought the Ukrainian IT-company

Ukrainian IT company the Archer Software has announced an agreement with the American company Cprime. This was reported on the company’s website. The amount of the deal is not disclosed, but the publication Ain says, “According to experts, 100% of the company could be valued at 5-8 million dollars.” But the transaction amount may vary […]

Next
The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”
News

Swedish traditions with a Ukrainian soul

HOW IT ALL BEGAN Sweden, the homeland of the Lantmannen concern, has rich traditions of farmers unions. Those unions were established on the principles of democratic governance, quality control, fair profit distribution. The Lantmannen company was set up on the basis of one of those principles in 1880. Over 100 years, the company has been […]

Next
The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”
News

Нappy New Year!

Editorial office of business publication LDaily wishes all a Happy New Year! We sincerely wish you to meet the 2017 th with a smile and a warm heart. Let the coming year will give us all another opportunity to finish the job, or start with a clean sheet – write a different story, in which […]

Next
The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”
News

Among the 1 million companies operating in Ukraine only 16% of employees work in IT

Ukrainian monitoring center registration data OpenDataBot has promulgated the final quantitative indicators of the enterprises registered in Ukraine. From these data, it became clear that for the year in Ukraine already exist more than a million active businesses, but despite this, very few of them are operating in the field of intelligent technologies (IT) – […]

Next
The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”
News

Bill Gates has invested nearly $ 80 million in the developer of satellite dishes

The American satellite company Kymeta announced the attraction of $ 85.2 million in the last round of financing. The round was led by Microsoft founder Bill Gates, who invested $ 78.5 million in the startup. Kymeta develops and manufactures high-speed satellite systems and antennas. The main product of the company is a flat satellite antenna […]

Next
The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”
News

Intel has absorbed its competitor Altera Corp. for $ 16, 7 billion.

Recently there were closed the deal on the absorption by the Intel Developer Altera company. In a statement to journalists the head of the Intel, said that Altera is now an integral part of the company and will operate as a division. In a statement, Intel spokesman also said that Altera will now be called […]

Next
The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”
News

Trump does not like the terms of the TikTok agreement with Oracle

US President Donald Trump has expressed dissatisfaction with the fact that under the terms of the agreement between ByteDance and Oracle, the Chinese company will retain a majority stake in the TikTok service, and Oracle will have a minority stake. This Trump said during the press briefing at the White House. Responding to the question […]

Next
The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”
News

Ukrposhta has shared its plans for 2017

In the new year Ukrposhta will invest in its development up to 500 million UAH. It is reported by the press service of the national postal operator, referring to the words of the CEO – Ihor Smilianskyi. According to the original source, in the new year the investment plan is going to be increased in […]

Next
The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”
News

PIFs brought a million dollars to the budget for the year

Currently, there are almost 2 million entrepreneurs in Ukraine, and each of them pays an average of 13 thousand hryvnias a year. Thereby, in 2019, the turnover of the PIF`s economy amounted to 1 million dollars. “Over the past eight years, revenue from private individuals to the budget have increased by 24 times. In the […]

Next
The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”
News

Important events in the business world for a week

LDaily prepared  the short overview of latest news in the sphere of business and finance for last week for the readers. If you missed something, it would  be a good opportunity  to correct it. 1. The NBU will start a new system for carrying out the currency transactions Within the last press conferences representatives of the […]

Next
The Commission on Securities and Stock Market of Ukraine suspended the licenses of “Ukrainian Stock Exchange”
News

SFS fined Philip Morris for 4.1 billion UAH

The State Fiscal Service of Ukraine imposed a fine on Philip Morris Ukraine. In turn, the tobacco company believes that the claims of the Department of tax and customs audit of the SFS for 4.1 billion. UAH are unfounded. “Now the fine is not yet accrued officially. The verification was completed on May 10 and […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com