SEC and The FSA Poland Jointly Conduct a Seminar on the Requirements for Information Disclosure

The event took place on 5 - 7 October with representatives of the State Agency for the development of market infrastructure, the Finance Ministry, the Ukrainian Association of Investment Business, Professional Association of Registrars and Depositories, the Association of Ukrainian stock traders and others.

Foreign experience was represented by Ms. Anna and Ms. Magdalena Vilchynskyy Markola, as well as experts from the Department of issuers FSA Poland.

Opening the seminar, Nikolay Burmaka, Member of the SEC, said the event is borrowing experience of colleagues from Poland in implementing the EU provisions relating to financial reporting to the Polish legal framework and study approaches and practical aspects of supervision of financial information of issuers and regulations relating to administrative and penal sanctions related to mishandling of financial statements.

During the meeting the participants discussed the legal provisions of EU law and periodic reporting, accounting standards applied by issuers, the existing Directive on the implementation of transparency and the role of government councils, supervisory boards and auditors on the control of financial information.

This is the first such event in accordance with agreements between the national regulator and the FSA Poland.

The next meeting of Ukrainian and Polish colleagues will be held on 26-28 October 2011 and will be devoted to the problems in investigating and supervisory controls to the current process.