Regulation on the Fixation and Consideration by the National Securities and Stock Market Commission of Cases of Offenses

NATIONAL SECURITIES AND STOCK MARKET COMMISSION DECISION Kyiv On the approval of the Regulation on the fixation and consideration by the National Securities and Stock Market Commission of cases of offenses

In accordance with Article 255 of the Code of Ukraine on Administrative Offenses, paragraphs 1 and 54 of Part One of Article 7, Article 49 of the Law of Ukraine "On State Regulation of Capital Markets and Organized Commodity Markets", Articles 18 and 32 of the Law of Ukraine "On Prevention and Counteraction to Legalization (Money Laundering) of Income Obtained by Criminal Means, Terrorism Financing and Financing of Proliferation of Weapons of Mass Destruction"

The National Securities and Stock Market Commission D E C I D E D:

1. Approve the Regulation on the fixation and consideration by the National Securities and Stock Market Commission of cases of offenses, attached hereto.

2. Establish that cases initiated in accordance with the Rules for considering cases of violations of the requirements of legislation on capital markets and organized commodity markets, application of sanctions or other measures of influence, approved by the decision of the National Securities and Stock Market Commission of July 28, 2020 No. 405, registered in the Ministry of Justice of Ukraine on October 2, 2020 under No. 966/35249 (with amendments), the Rules for considering cases of violations of the requirements of legislation on prevention and counteraction to legalization (money laundering) of income obtained by criminal means, terrorism financing and financing of proliferation of weapons of mass destruction and application of measures of influence, approved by the decision of the National Securities and Stock Market Commission of April 6, 2021 No. 227, registered in the Ministry of Justice of Ukraine on May 13, 2021 under No. 637/36259, and the Procedure for fixing the fact of committing a violation of profile legislation and considering cases of violations of profile legislation under martial law, approved by the decision of the National Securities and Stock Market Commission of May 30, 2025 No. 14/21/2358/K03 (with amendments), are accompanied and considered in accordance with the Regulation on the fixation and consideration by the National Securities and Stock Market Commission of cases of offenses, approved by this decision.

3. Recognize as having lost force the decision of the National Securities and Stock Market Commission of April 6, 2021 No. 227 "On the approval of the Rules for considering cases of violations of the requirements of legislation on prevention and counteraction to legalization (money laundering) of income obtained by criminal means, terrorism financing and financing of proliferation of weapons of mass destruction and application of measures of influence", registered in the Ministry of Justice of Ukraine on May 13, 2021 under No. 637/36259.

4. The Administration of Administrative Activity shall ensure the posting of this decision on the website of the National Securities and Stock Market Commission.

5. The Department of Legal Development shall ensure the submission of this decision for state registration to the Ministry of Justice of Ukraine in the manner established by legislation and, upon receipt of notification of state registration from the Ministry of Justice of Ukraine, ensure the publication of this decision on the official website of the National Securities and Stock Market Commission.

6. This decision enters into force on July 1, 2026, but not earlier than the day following the day of its official publication.

7. Control over the implementation of this decision shall be entrusted to a member of the National Securities and Stock Market Commission, Yu. Shapoval.

Chairman of the Commission Oleksiy SEMENYUK

Protocol of the Commission meeting of 25.03.2026 No. 13

APPROVED Decision of the National Securities and Stock Market Commission ____________ No. _____

Regulation on the fixation and consideration by the National Securities and Stock Market Commission of cases of offenses

I. General Provisions

1. This Regulation defines procedures for:

• the preparation and documentation of signs of the commission of offenses;
• the fixation of the fact of the commission of offenses;
• the preparation and documentation of offenses;
• the consideration of cases of offenses;
• the issuance of decisions by authorized persons based on the results of case consideration and monitoring of their implementation.

2. Offenses to which this Regulation applies are:

• violations of profile legislation – violations of legislation on capital markets and organized commodity markets, including legislation on the system of accumulated pension provision and rating activity, legislation on joint-stock companies, legislation on advertising of financial instruments, capital markets and organized commodity markets, legislation on the protection of rights of consumers of financial and ancillary services, the state regulation and supervision of which is carried out by the National Securities and Stock Market Commission (hereinafter – NSC);
• violations in the field of financial monitoring – violations of legislation in the field of prevention and counteraction to legalization (money laundering) of income obtained by criminal means, terrorism financing and financing of proliferation of weapons of mass destruction, committed by subjects of primary financial monitoring, for which the NSC is a subject of state financial monitoring;
• administrative offenses, the drawing up of protocols and/or consideration of cases of which is carried out by the NSC in accordance with the Code of Ukraine on Administrative Offenses.

3. The consideration of cases of offenses is carried out in accordance with the Code of Ukraine on Administrative Offenses, the Laws of Ukraine "On State Regulation of Capital Markets and Organized Commodity Markets" (hereinafter – the Law), "On Prevention and Counteraction to Legalization (Money Laundering) of Income Obtained by Criminal Means, Terrorism Financing and Financing of Proliferation of Weapons of Mass Destruction" (hereinafter – the Law on Financial Monitoring), "On Rating" (hereinafter – the Law on Rating), this Regulation, taking into account the principles of administrative procedure defined by the Law of Ukraine "On Administrative Procedure".

4. Proceedings in cases of offenses are a set of measures aimed at documenting the identified signs and established facts of offenses, fixing offenses, considering cases of offenses, issuing decisions and controlling their implementation within the limits and manner defined by law and this Regulation. The task of proceedings in cases of offenses is the timely, complete and objective clarification of the circumstances of each case, its resolution in accordance with legislation, the issuance of a fair decision and ensuring its implementation, with the subsequent identification of causes and conditions contributing to the commission of offenses and prevention of their commission.

5. Authorized persons exercising powers in accordance with this Regulation are:

• authorized persons of the NSC for accompanying cases of violations of profile legislation (hereinafter – authorized persons for accompanying) – NSC officials who ensure the accompanying of cases of violations of profile legislation;
• authorized persons of the NSC for considering cases of violations of profile legislation (hereinafter – authorized persons for considering cases) – NSC officials who consider cases of violations of profile legislation;
• officials of the NSC authorized to consider cases of violations of legislation in the field of financial monitoring (hereinafter – authorized persons for considering cases of financial monitoring) – NSC officials who consider cases of violations of legislation in the field of financial monitoring;
• officials of the NSC authorized to draw up protocols and consider cases of administrative offenses (hereinafter – authorized persons for considering administrative cases) – NSC officials who draw up protocols on administrative offenses, consider cases of administrative offenses and impose administrative penalties.

6. Authorized persons, exercising their powers in accordance with the requirements of law and this Regulation, are independent from any illegal influence, pressure or interference. Influence in any form or interference in the activities of authorized persons of the NSC with the purpose of hindering the performance of their official duties is prohibited. Authorized persons are not obliged to provide any explanations regarding the essence of proceedings in cases of offenses of which they are participants, except for providing explanations within the framework of criminal proceedings and during the judicial process. An authorized person is obliged to submit a notification about interference in their activities regarding the implementation of proceedings in cases of offenses to the Chairman of the NSC and to law enforcement agencies.

7. Interaction between authorized persons and the person against whom a draft act on an offense is drawn up is carried out using the means of the comprehensive information and communication system of the NSC (hereinafter – CIS), namely through the user's electronic cabinet (hereinafter – cabinet in the CIS), through which they have access to the protocol of placement of any documents, can provide, view, exchange information and documents. The sending of documents and any decisions issued during the proceedings in cases of offenses by authorized persons is carried out exclusively through the placement of such a document in the cabinet in the CIS of the person. In the event of impossibility of sending documents to a person through the CIS, documents issued during the proceedings in a case of an offense are considered sent (served) to the person if they are served personally or sent by mail (registered letter with notification of delivery) to the address of the location of the legal entity, according to information from the Unified State Register of Legal Entities, Individual Entrepreneurs and Public Formations, the declared/residential address (stay) of a physical person or to the official electronic address of the person (if available). In the event of sending documents to a person by postal means, it is considered that such a person is notified as of the fifth working day from the date of sending the written notification by the NSC to the address of the person, information about which is available in the NSC.

8. A person against whom proceedings in a case of an offense are carried out sends/provides explanations, petitions and any documents related to the case of an offense during accompanying or consideration exclusively by sending such a document through their own cabinet in the CIS. To ensure the possibility of submitting documents, a person must undergo an identification procedure using means of electronic signature, formed in accordance with the requirements of the Laws of Ukraine "On Electronic Documents and Electronic Document Management" and "On Electronic Identification and Electronic Trust Services". When forming an electronic document, the electronic signature of the author is used, which is created using a means of electronic signature based on a qualified public key certificate (hereinafter – ES), in particular:

• for a legal entity – an ES based on a qualified public key certificate, which must contain identification data of the legal entity, represented by an authorized person (full or official abbreviation of the name and identification code of the legal entity). In the event of submission of electronic copies of paper documents, a legal entity uses the qualified ES of an authorized representative of the legal entity and/or the qualified electronic seal of the legal entity, and/or an enhanced ES or enhanced seal based on a qualified certificate with a qualified electronic time mark;
• for a physical person – an ES based on a qualified public key certificate, which must contain identification data of the physical person. If the qualified public key certificate of the person does not contain the data specified in this paragraph, such electronic documents are not accepted by the NSC. In the event of impossibility of sending documents to the NSC by a person through the CIS, sending such documents issued during the accompanying and consideration of a case of an offense is carried out by mail to the address of the NSC (letter with inventory of contents), or by sending to the official electronic address of the NSC.

9. Confirmation of the fact of sending documents and any decisions issued during the proceedings in cases of offenses by the NSC to a person, and confirmation of the fact of sending any appeals and documents from a person to the NSC through the CIS is the protocol of placement of the corresponding appeals/documents in the cabinet in the CIS.

10. The protocol of placement of any documents during the accompanying and/or consideration of cases of offenses through the CIS is prepared by the structural subdivision of the NSC that supports the functioning of the CIS.

11. The date of placement of documents by the NSC in the cabinet in the CIS is the date of sending documents (notification) to the person, and in the event of placement by a person – the date of sending documents (notification) to the NSC.

12. The running of time limits for documents received by a person or the NSC begins on the next working day after their receipt by CIS means, to a postal or electronic address.

13. In the event of detection of grammatical, stylistic, technical typos and arithmetic errors (which do not affect the essence of the offense and the time limit for eliminating violations of legislation) in documents and any decisions issued during the proceedings in a case of an offense (except for the protocol on an administrative offense), an authorized person, on their own initiative or at the request of the person, may make a decision to correct them. The authorized person issues a ruling on the correction of typos, which is sent to the person no later than three working days from the date of its issuance.

14. Interested persons – persons whose rights, freedoms or legitimate interests may be affected by the consideration of a case of an offense – may participate in proceedings in cases of offenses.

15. In the event of the NSC establishing interested persons in a case of an offense, a notification of the commencement of proceedings in a case of an offense (hereinafter – notification) is sent to them. The notification is sent to interested persons immediately, but no later than three working days from the date of issuance of the ruling on the commencement of fixing the fact of committing a violation of profile legislation or the ruling on the commencement of proceedings in a case of violation in the field of financial monitoring by postal mail (registered letter with notification of delivery) or other means of communication (electronic mail, means of CIS, etc.), information about which is available in the NSC. The notification specifies: the name, address and contact details of the administrative body; the surname, first name, patronymic (if available) and/or full name of the interested person, their postal and/or electronic address to which the notification is sent; the details of the ruling on the commencement of fixing the fact of committing a violation of profile legislation / ruling on the commencement of proceedings in a case of violation in the field of financial monitoring; information about the right of the interested person to submit a petition for their involvement in the consideration of the case; the method and time limit for submitting such a petition; other information (if necessary). Petitions of interested persons for their involvement in the consideration of a case of an offense are submitted no later than five working days from the date of receipt of the notification.

16. Documents, as well as rulings and orders issued during the accompanying and/or consideration of a case of an offense, may be provided to an interested person (in the event of their involvement in the consideration of a case of an offense) for review upon their written petition. Providing documents to interested persons is carried out taking into account the requirements of legislation regarding access to professional secrecy and other types of information with restricted access.

17. An interested person has rights and obligations provided for by the Law of Ukraine "On Administrative Procedure".

II. Detection of signs of offenses, drawing up and processing of questionnaires on offenses

18. In the event of detection of signs of the commission of an offense in the activities of participants of capital markets, professional participants of organized commodity markets, their officials, as well as any physical (except for related agents) or legal entities that carry out or intend to carry out operations on capital markets and organized commodity markets, or to whom circumstances related to such operations or activities may be known, subjects of primary financial monitoring, structural subdivisions of the NSC, whose powers include supervision on capital markets and organized commodity markets and/or in the field of financial monitoring (hereinafter – supervisory structural subdivisions), draw up questionnaires on the detection of signs of the commission of an offense (hereinafter – questionnaires) according to the form in accordance with Appendices 1 and 2.

19. The questionnaire and documents attached to it (copies of documents) must contain all information indicating the presence of signs of the commission of each offense (offenses) by a person that occurred as a result of one action (inaction).

20. The questionnaire is the sole and exclusive document on the basis of which an authorized person opens proceedings in a case of an offense.

21. A questionnaire on the detection of signs of a violation of profile legislation is drawn up by a supervisory structural subdivision and together with attached documents (copies of documents) within one working day after drawing up is sent (by placing in the corresponding subsystem of the CIS) to the structural subdivision entrusted with the duties of law enforcement (hereinafter – law enforcement structural subdivision) for its processing and taking measures in accordance with this Regulation. A questionnaire on the detection of signs of a violation in the field of financial monitoring is drawn up by a structural subdivision entrusted with the duties of regulation and supervision in the field of financial monitoring (hereinafter – financial monitoring structural subdivision) and together with attached documents (copies of documents) within one working day after drawing up is placed in the corresponding subsystem of the CIS. The questionnaire is processed by the financial monitoring structural subdivision in accordance with this Regulation.

22. The questionnaire is placed in the corresponding subsystem of the CIS and is subject to signing with a qualified electronic signature of the head of the supervisory structural subdivision, and in their absence – by the person performing their duties. The law enforcement structural subdivision carries out processing of the questionnaire on the detection of signs of a violation of profile legislation only after its placement by the supervisory structural subdivision in the corresponding subsystem of the CIS.

23. During the processing of the questionnaire, the law enforcement structural subdivision / financial monitoring structural subdivision:

• checks the accuracy of the information contained in the questionnaire;
• evaluates the completeness and objectivity of such information;
• carries out preliminary qualification of the offense;
• requests additional information from structural subdivisions necessary for processing the questionnaire;
• places documents / information collected during the processing of the questionnaire in the corresponding subsystem of the CIS.

24. The law enforcement structural subdivision / financial monitoring structural subdivision, based on the results of processing the questionnaire and in the event of confirmation of the identified signs of the commission of a violation:

• of profile legislation – prepares a draft ruling on the commencement of fixing the fact of committing a violation of profile legislation and places it in the corresponding subsystem of the CIS;
• in the field of financial monitoring – prepares a draft ruling on the commencement of proceedings in a case of violation in the field of financial monitoring, places it in the corresponding subsystem of the CIS and submits a proposal to the Chairman of the NSC regarding the determination of authorized persons for considering the case of financial monitoring;
• of signs of the commission of an administrative offense – submits a proposal to the Chairman of the NSC regarding the drawing up of a protocol on an administrative offense and the determination of an authorized person for considering the administrative case.

25. Questionnaires are processed within thirty calendar days from the date of receipt by the law enforcement structural subdivision or from the date of drawing up the questionnaire by the financial monitoring structural subdivision, except for questionnaires containing signs of systemic and/or gross violation of profile legislation (except for legal entities, questionnaires for which are drawn up as a result of planned or unplanned inspections), which are processed within ten working days, and questionnaires containing signs of the commission of an administrative offense, which are processed within three working days. A gross violation of profile legislation is considered a violation for which the Law provides for the maximum amount of a financial sanction (fine) in the amount of more than 500 thousand hryvnias.

26. The running of the time limit established for processing the questionnaire is suspended from the date of establishing the need to collect additional information for the purpose of processing the questionnaire for the period necessary for its receipt, and is resumed after the completion of the collection of such information, but for no more than ten working days. The running of the time limit specified in the first paragraph of this paragraph may be suspended no more than twice.

27. If as a result of the consideration of the questionnaire by the law enforcement structural subdivision the presence of signs of the commission of an offense is not confirmed or other circumstances are established, under the presence of which a draft ruling cannot be prepared in accordance with paragraph 24 of this Regulation or a protocol on an administrative offense cannot be drawn up, such structural subdivision returns the questionnaire for its additional processing and notifies the supervisory structural subdivision that drew up the questionnaire about this. The notification must necessarily specify the justification for returning the questionnaire.

28. A draft ruling on the commencement of fixing the fact of committing a violation of profile legislation / draft ruling on the commencement of proceedings in a case of violation in the field of financial monitoring is prepared separately for each person.

29. The law enforcement structural subdivision / financial monitoring structural subdivision enters into the corresponding subsystem of the CIS:

• a draft ruling on the commencement of fixing the fact of committing a violation of profile legislation / draft ruling on the commencement of proceedings in a case of violation in the field of financial monitoring – within one working day from its preparation;
• other documents / information regarding a case of an offense – immediately, but no more than three working days from the moment of receipt of information and/or other documents, if other time limits for entering information into the corresponding subsystem of the CIS are not defined by this Regulation.

III. Features of accompanying and consideration of cases of violations of profile legislation

1. Fixation of violation of profile legislation

2. Fixation of each fact of the commission of a violation of profile legislation is carried out by an authorized person for accompanying. The day of detection and commencement of fixation of the commission of a violation of profile legislation is the day of issuance of the ruling on the commencement of fixing the fact of committing a violation of profile legislation.

3. An authorized person for accompanying is determined automatically by means of the CIS based on the placement of a draft ruling on the commencement of fixing the fact of committing a violation of profile legislation in the corresponding subsystem of the CIS.

4. In the event of the presence in the questionnaire of evidence of the commission of an offense, an authorized person for accompanying issues a ruling on the commencement of fixing the fact of committing a violation of profile legislation and draws up a draft act on a violation of profile legislation (Appendix 3). The draft act on a violation of profile legislation specifies all violations that are evident in the actions (inaction) of one person. An authorized person for accompanying sends a ruling on the commencement of fixing the fact of committing a violation of profile legislation together with the draft act to the person against whom an act on a violation of profile legislation is planned to be drawn up, for providing comments, proposals, explanations and/or objections with indication of the time limit for their provision, which cannot be less than five working days from the day following the day of receipt of such a person of the draft act on a violation of profile legislation.

5. An authorized person for...

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