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Market Operator to implement compliance in line with intl standards – NEURC
KYIV. Aug 24 (Interfax-Ukraine) – The National Energy and Utilities Regulatory Commission of Ukraine (NEURC) has established requirements for JSC Market Operator to improve the quality and efficiency of its administration, in particular by ensuring compliance in accordance with international standards.
According to the regulator on its website, the decision of the NEURC was enshrined in the relevant resolution on approval of changes to the licensing conditions for the implementation of economic activities to carry out the functions of a market operator, adopted at a meeting of the commission on August 23.
The document comes into force one day after its publication on the NEURC official website.
"The approved changes to the license conditions will allow JSC Market Operator to bring its activities to international standards and improve the quality and efficiency of administration in the performance of market operator functions," the commission noted.
The Resolution, in particular, provides for the implementation by Market Operator of the following activities:
– ensuring compliance of the market operator;
– introduction of personnel requirements for officials of the governing bodies, determined by the charter of the licensee, regarding the presence of an impeccable business reputation in the meaning given in the law on preventing and combating the legalization (laundering) of proceeds from crime, the financing of terrorism and the financing of proliferation of weapons of mass destruction;
– appointment of a person responsible for the processing of personal data;
– implementation and certification of the quality management system, labor safety and anti-corruption in accordance with international standards.
Market Operator performs a key role in ensuring the functioning of the day-ahead market (DAM) and the intraday market (IDM), as well as creates organizational, technological, informational and other conditions for the implementation of regular trading according to the rules of the DAM and the IDM, as well as the conclusion and execution contracts and settlements on them.
