Outsourcing of Key Functions Allowed for Companies in the Capital Market

The National Securities and Stock Market Commission has approved outsourcing requirements for capital market participants. Companies will be able to delegate functions to external contractors, including compliance, risk management, auditing, accounting, and IT support. The new rules define which functions can be outsourced, who can provide such services, and what requirements they must meet. In particular, it is allowed to outsource compliance, risk management, internal audit, accounting, IT support, and software maintenance. For professional capital market participants, the processing of third-party appeals is also included. Contractors can be both Ukrainian and foreign legal entities and individuals, provided they have sufficient resources and qualified personnel. Outsourcing functions does not relieve the company of responsibility for the results. The new requirements aim to align Ukrainian regulation with EU standards and create a legal framework for attracting external specialists. The NSSMC and ESMA have also identified areas of cooperation to prepare the Ukrainian capital market for EU accession.

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