Memorandum of understanding signed between regulators of securities market of Azerbaijan and Ukraine
Azerbaijan, Baku, Sept. 6 /Trend, E. Aliyev/
A memorandum of understanding on the exchange of information was signed between the State Committee for Securities (SCS) of Azerbaijan and the National Commission on Securities and Stock Market of Ukraine on Friday.
The signing ceremony was held in Baku within the framework of ongoing international scientific practical conference devoted to the fifteenth anniversary of the establishment of the SCS.
The document was signed by the chairman of the State Committee for Securities Rufat Aslanli on behalf of Azerbaijan, and by Dmitry Tevelev representing Ukraine.
Within the framework of the memorandum, the sides agreed to exchange information on insider trading and market manipulation detection and on other illegal activities, compliance with national legislation in the field of production and sales of securities, ensuring transparency and high fairness standards in market, as well as disclosure of the necessary information on issuers of securities.
It should be noted that in 2008, a similar memorandum was signed between the SCS and the predecessor of the National Commission on Securities and Stock Market of Ukraine [State Commission for Securities and Stock Market of Ukraine], however, after the dissolution of this structure in the 2011 document lost its power. In order to underscore the legal framework of bilateral cooperation and its development the Ukrainian side appealed to Azerbaijani colleagues with the initiative on signing a new memorandum.