Elena Zaitseva, Cai & Lenard’s Senior Associate, gave a legal commentary for a news channel UBR (Ukrainian Business Resource).
One of the comments concerned violations on the securities market, namely penalties for violating the terms of dematerialization of shares pursuant to the Decision of the Securities and Stock Market State Commission of 02.11.2010. Ms Zaitseva remainded that the terms of dematerialization were not prolongated and the penalties are from USD 17 thousand to USD 170 thousand.
Ms Zaitseva also gave a comment on the Law of Ukraine "On Liability of Legal Entities for Corruption Offenses" that shall become effective on 1 January 2011. This law is revolutionary in Ukraine due to establishing rather strict liability for private entities mentioned in Article 2 of the offense, providing for severe penalties (up to liquidation) for legal entities whose officials committed corruption crimes.
Tele-comment on avoiding penalties
Elena Zaitseva, Cai & Lenard’s Senior Associate, gave a legal commentary for a news channel UBR (Ukrainian Business Resource).
One of the comments concerned violations on the securities market, namely penalties for violating the terms of dematerialization of shares pursuant to the Decision of the Securities and Stock Market State Commission of 02.11.2010. Ms Zaitseva remainded that the terms of dematerialization were not prolongated and the penalties are from USD 17 thousand to USD 170 thousand.
Ms Zaitseva also gave a comment on the Law of Ukraine "On Liability of Legal Entities for Corruption Offenses" that shall become effective on 1 January 2011. This law is revolutionary in Ukraine due to establishing rather strict liability for private entities mentioned in Article 2 of the offense, providing for severe penalties (up to liquidation) for legal entities whose officials committed corruption crimes.
Practices: