The European Bank for Reconstruction and Development (EBRD), following the results of a tender, has attracted the National Law Center for Inter-American Free Trade (NatLaw) as an external adviser for the development of the warehouse receipt market in Ukraine.
The press service of the National Commission on Securities and the Stock Market said the regulator and NatLaw this week will hold a number of meetings with representatives of the capital market and specialists of state bodies to discuss supervision over the circulation of warehouse receipts in Ukraine, the certification and standardization of activities of depositories, the formation of guarantee funds, etc.
“Following the meetings, proposals will be developed to improve the legislation on warehouse receipts and recommendations how to improve the effectiveness of such a system will be made,” the document says.
The regulator said the system of warehouse receipts is a very important element in the efficient functioning of commodity exchange markets. At the same time, this instrument currently has limited application in Ukraine due to its functional shortcomings and is used only in the agricultural sector.
NatLaw is an American non-profit organization. In particular, it is engaged in providing consultations on regulatory reforms.
