The Corporate Governance Professional Association (CGPA) submitted its proposals in response to the draft decision of the National Securities and Stock Market Commission, dated September 9, 2025.

The association has received numerous requests from its members outlining key issues that need to be considered in the decision. In particular, these include:

• extending the reporting deadlines for issuers (except for critical infrastructure entities) until December 31, 2025;
• establishing a special regime for critical infrastructure enterprises, as well as enterprises, institutions, and organizations that are important for the economy, ensuring the livelihoods of the population, or the defense capability of the state, submitting reports within 90 days after the end of martial law;
• the possibility of not disclosing interim information for 2021–2024, provided that annual information for the same years is disclosed on time.

Letter to the Commission

Proposals for the draft decision

CGPA expressed its readiness to participate in further discussions on this issue with the regulator and other interested parties.