Ruslan Magomedov, Chairman of the National Securities and Stock Market Commission and Andrii Pashchuk, Acting Director of the ESBU signed a Memorandum of Cooperation between the agencies in the framework of combating economic crime and eliminating legislative gaps in the regulatory documents governing relations in the field of securities circulation.

"Today the financial system needs to consolidate the efforts of public authorities to create conditions for transparent, reliable market operations and proper protection of our citizens from fraudulent activities. We are pleased to partner with the ESBU and are confident in the effective results of our cooperation in the near future," - said Ruslan Magomedov, Chairman of the NSSMC.

For his part the Acting Director of the ESBU, Andriy Pashchuk emphasized that such cooperation not only strengthens the analytical component of the Bureau's work but also contributes to improving the current legislation and preventing new schemes of economic crimes.

"Currently the main task of the Economic Security Bureau is to prevent budget losses and identify potential risks. For our analysts to work effectively we need to develop effective mechanisms of interaction with other government agencies including in terms of information exchange. This is the only way to respond promptly to threats to economic security," said Andrii Pashchuk.

For reference: The National Securities and Stock Market Commission is a state collegial body subordinated to the President of Ukraine and accountable to the Verkhovna Rada of Ukraine. The purpose of the NSSMC is to create through its regulatory and supervisory functions, conditions for the proper and efficient functioning of the securities market to provide money capital for the needs of the country's economy by creating a mechanism for the accumulation, distribution and redistribution of funds from a person who has free investment resources to a person who needs such resources for development to create conditions for the formation of powerful domestic investors and to ensure the protection of investors' rights.