On Introduction Of Amendments To Certain Legislative Acts Of Ukraine Regarding Insider Information

Original Language Title: Про внесення змін до деяких законодавчих актів України щодо інсайдерської інформації

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Read the untranslated law here: http://zakon3.rada.gov.ua/laws/show/3306-17

                                                          
With a k o n u r as th n and on amendments to certain legislative acts of Ukraine regarding insider information (Supreme Council of Ukraine (BD), 2011, N 44, art. 470) the Verkhovna Rada of Ukraine about with t and o in l I have: I. Make changes to the following acts: 1. in article 163-9 of the code of administrative offences (80731-10) (Supreme Council of USSR, 1984, annex to N 51, c. 1122): 1) to the first paragraph the following wording: "Deliberate unlawful disclosure, transfer or provide access to insider information, as well as the provision with the use of such information on the recommendations concerning the acquisition or alienation of securities or derivatives (derivatives), as well as committing to using insider information for its own benefit or for the benefit of others, of transactions aimed at the acquisition or alienation of securities or derivatives (derivatives), which relates to insider information ";
2) add a note following contents: "Note. When persons who have committed the actions provided for in this article, refers to: officers of the issuer, including those who were officials of the issuer at the moment of acquaintance with the insider information; persons who have access to insider information in connection with the performance of them labour (service) duties or contractual obligations irrespective of the relationship with the issuer, including the staff of professional stock market participants; servants, to whom possession information as a result of fulfilling job (service) duties; persons with insider information by wrongful conduct; Auditors, notaries, experts, evaluators, liquidator or other persons who perform the provided by the law of public powers ".
2. in article 232-1 of the Criminal Code of Ukraine (2341-14) (Supreme Council of Ukraine, 2001, N 25-26, art. 131): 1) replace the first part of the two parts of this content: "1. The deliberate unlawful disclosure, transfer or provide access to insider information, as well as the provision with the use of such information on the recommendations concerning the acquisition or alienation of securities or derivatives (derivatives), if it led to getting the face who committed these acts, or by third parties unlawful profits in considerable amount, or avoidance of participant of the stock market or by the third parties significant losses, or if it is zapodìâlo significant damage to protected by the law of the rights, freedoms and interests of individual citizens or State or public interests or the interests of legal persons, shall be punishable by a fine of from seven to fifty-two thousand untaxed minimum incomes, or restriction of liberty for up to three years with the deprivation of rights to occupy certain posts or engage in certain activities for up to three years or without such.
2. Commit to using insider information for your own benefit or for the benefit of others, of transactions aimed at the acquisition or alienation of securities or derivatives (derivatives), which relates to insider information, if it led to getting a person who committed these acts, or by third parties unlawful profits in considerable amount, or avoidance of participant of the stock market or by the third parties significant losses, or if it is zapodìâlo considerable damage protected by law rights , freedoms and interests of individual citizens or State or public interests or the interests of legal persons, is punishable by a fine of from seven to fifty-two thousand untaxed minimum incomes, or restriction of liberty for up to three years or imprisonment for up to two years, with the deprivation of right to hold certain posts or engage in certain activities for up to three years or without such.
In this regard, part of the second count of the third;
2) part three: the first paragraph spell out in this Edition: "3. actions stipulated by the first or second parts of this article committed repeatedly or by prior conspiracy of a group of persons, or if such actions have caused grave consequences,";
second paragraph after the words "restriction of liberty for a term of two to five years," add the words "or imprisonment for the same term";
3) add to part 4 of the following contents: "4. The actions stipulated by parts of the first-third of the article, if they are committed by an organized group, – shall be punishable by imprisonment for a term from two to five years of deprivation of rights to occupy certain posts or engage in certain activities for up to three years or with confiscation of property or without such";
4) Note: item 1 put in the following wording: "1. the Significant size of (significant damage, significant damage) this article is considered the size (damage, sorry), five hundred or more times greater than the taxable minimum incomes of citizens";
supplement paragraph 3 the following: "3. persons who have committed the actions provided for in this article, refers to: officers of the issuer, including those who were officials of the issuer at the moment of acquaintance with the insider information; persons who have access to insider information in connection with the performance of them labour (service) duties or contractual obligations irrespective of the relationship with the issuer,

among the staff of professional stock market participants;
servants, to whom possession information as a result of fulfilling job (service) duties; persons with insider information by wrongful conduct;
Auditors, notaries, experts, evaluators, liquidator or other persons who perform the provided by the law of public powers ".
3. Paragraph 12 of article 11 of the law of Ukraine "on State regulation of securities market in Ukraine" (448/96-VR) (Supreme Council of Ukraine, 1996, N 51, art. 292;
2009 N 23, St. 278) lay in the following wording: "12) deliberate unlawful disclosure, transfer or provide access to insider information (except for disclosure of insider information within the professional, employment or official duties and in other cases stipulated by law), as well as the provision with the use of such information on the recommendations concerning the acquisition or alienation of securities or derivatives (derivatives), as well as committing to using insider information for its own benefit or for the benefit of others, of transactions aimed at the acquisition or alienation of securities or derivatives (derivatives), which relates to insider information, ranging from ten to fifty thousand untaxed minimum incomes, or up to one hundred fifty percent profit (revenue), received as a result of these actions.
The same actions committed repeatedly during the year, ranging from fifty to one hundred thousand tax-free allowances from citizens or in the amount of one hundred and fifty to three hundred percent to profits (revenues) obtained as a result of these actions. "
4. in the law of Ukraine "on securities and stock market (3466-15) (Supreme Council of Ukraine, 2006, N 31, art. 267): 1) article 44 to change the following wording:" article 44. Insider information 1. Insider information-undisclosed information about the issuer and his securities and derivatives (derivatives), which are in circulation on the stock exchange, or transactions on them, if the disclosure of such information can substantially affect the value of securities and derivatives (derivatives), and which is disclosed in accordance with the requirements established by this law.
2. Information concerning the valuation of securities and/or financial and economic condition of the issuer, unless it obtained exclusively based on disclosed information or information from other public sources is not prohibited by law, do not have insider information.
3. Information is not considered to be considered since its publication according to law ";
2) in article 45: part 1: in the first paragraph, the word "Insider", replace the words "the person who has insider information";
second and fourth paragraph after the words "securities" add the words "and derivatives (derivatives);
part of the second lay in the following wording: "2. the stock exchange shall notify the State Commission on securities and stock market State Commission on operations with securities and/or derivatives (derivatives), which are carried out on a stock exchange, if there is a suspicion that during such operations is used or can be used insider information";
part of the third off.
In this regard, part of the fourth considered part of the third.
II. this Act comes into force on the day following the day of its publication.

President of Ukraine Viktor Yanukovych Kiev, April 22, 2011 3306 N-VI