EWMI NEWS:
APRIL 2008
MOLDOVAN AND UKRAINIAN SECURITIES OFFICIALS PARTICIPATE IN THE INTERNATIONAL INSTITUTE FOR SECURITIES MARKET DEVELOPMENT

A group of 12 Moldovan and Ukrainian securities officials participated in the Annual International Institute for Securities Market Development, at the US Securities and Exchange Commission’s (US SEC) headquarters in Washington, D.C. from April 7-17, 2008. The study tour was co-funded by the Partners for Financial Stability Program and the USAID Capital Markets Project in Ukraine (implemented by Financial Markets International).

This intensive two-week training in international standards and practices was part of the recently established training/mentoring pro-gram for Ukrainian regulators with the US SEC to gain critical understanding on the development, operation, and regulation of securities markets to promote safe and efficient securities markets in Ukraine.
Approximately 100 speakers made presentations at the Institute and it included speeches by SEC Chairman Christopher Cox, SEC Commissioner Kathleen Casey, and the Director of the SEC's Office of International Affairs, Ethiopis Tafara. Presentation topics included financial reporting, disclosure, auditing and accounting issues, broker dealer regulation, self-regulatory organizations, compliance and supervision, investigatory techniques, remedies and penalties as well as the challenges to securities regulators in emerging markets.

For the first time, the US SEC accepted an unusually large delegation of 2 securities officials from Moldova and 10 from Ukraine. The visit to the US SEC in Washington initiated closer cooperation between the Securities and Stock Market State Commission in Ukraine and SEC. US SEC staff will visit Ukraine in June to conduct a special course on enforcement for the SSMSC.