Cai & Lenard provided legal support to the “Security Market Partnership” Association for the changes in concerted actions
“Security Market Partnership” Association
The Antimonopoly Committee of Ukraine has issued its permit to the “Security Market Partnership” Association for the changes in concerted actions. Cai & Lenard Law Firm represents the Association in the Committee as a legal adviser on antitrust law.
The purpose of changes in concerted actions is to bring the statutory and internal documents of the Association in line with the applicable legal requirements, improve and define clearer rules for all Association members in order to facilitate more effective functioning of the open and fair competitive securities market in Ukraine.
As a result of this changes the Charter of Association, Regulation on Membership, Rules of Association, Special Disciplinary Proceedings of Association and Code of Professional Ethics for Association members were improved.
Also a new internal document of the Association was adopted: the Regulation on Associate Membership aimed at the distribution of information on Association’s activities to a wider range of securities market’s professional participants, providing them an opportunity to take part in development and application of the unified performance standards and provision of services at the securities market.
Legal support of the project was provided by the Cai & Lenard’s attorneys, headed by the Counsel Dmytro Symanov. “Widening of the circle of potential members of the "Security Market Partnership” Association, development of powers of its management bodies, introduction of the institution of associate membership and other changes permitted by the Antimonopoly Committee of Ukraine will give a new positive impetus to the cooperation, dissemination of experience and knowledge among all participants of the securities market of Ukraine”, - noted Mr. Symanov.
The “Security Market Partnership” Association (previously – “First Securities Trading System” Association) operates in Ukrainian market since 1996 and is one of the largest and most authoritative associations of professional securities market participants.