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Ministry of Justice

Republic of Moldova

On February 10, 2009 No. 648

RESOLUTION OF THE NATIONAL COMMISSION ON THE FINANCIAL MARKET OF THE REPUBLIC OF MOLDOVA

of September 18, 2008 No. 44/5

About approval of the Regulations on certification of specialists of professional participants of the non-bank financial market

(The last edition from 03-07-2015)

1. Approve Regulations on certification of specialists of professional participants of the non-bank financial market it (is applied).

2. Declare invalid the Resolution of the National commission on securities No. 10/12 of 28.09.1999 about approval of the Regulations on certification of specialists of professional participants of the security market and procedure for receipt of qualification certificates on the right of implementation of activities in the security market (The official monitor of the Republic of Moldova, 1999, No. 128-129, the Art. 232), with subsequent changes.

3. To impose control of execution of this resolution on the Commission on certification of specialists of professional participants of the non-bank financial market.

Chairman of the National commission on the financial market

Mikhail Chibotaru

Appendix

to the Resolution of the National commission on the financial market of September 18, 2008 No. 44/5

Regulations on certification of specialists of professional participants of the non-bank financial market

I. General provisions

1. The regulations on certification of specialists of professional participants of the non-bank financial market (further - the Provision) are developed based on the Law No. 192-XIV of November 12, 1998 "About the National commission on the financial market", the legislation regulating activities of professional participants of the non-bank financial market and establish procedure for certification of persons wishing to receive qualification certificates on the activities right as the specialist in the non-bank financial market.

2. Requirements of this Provision extend on:

a) applicants on receipt of qualification certificates of specialists of professional participants of the financial non-bank market on own initiative;

b) persons who, it agrees acting legislative and to regulations, shall have the qualification certificate of the specialist of the professional participant of the non-bank financial market;

c) the certifying commissions created within the National commission on the financial market (further - NKFR).

3. For the purpose of this Provision the following concepts are used:

a) certification - assessment procedure of the professional training level, necessary for activities in the non-bank financial market;

b) the qualification certificate - the document issued to NKFR, confirming sufficiency of the professional training level for activities in the respective area of the non-bank financial market;

c) the candidate - person allowed to certification;

d) the specialist - person having the qualification certificate issued by NKFR according to this Provision.

4. For certification and issue of the qualification certificate the charges established in appendix to the resolution of Parliament of the Republic of Moldova on approval of the budget of NKFR for the corresponding year are levied.

II. Certifying commission

5. Certification of applicants on receipt of qualification certificates is performed by the Certifying commissions created by NKFR (further - Certifying commissions), on the following areas:

1) Certifying commission on certification of specialists in the field of securities;

2) Certifying commission on certification of actuaries;

3) Certifying commission on certification of specialists (chief executives and chief accountants) of savings and loan associations.

6. The structure of Certifying commissions, with indication of their chairmen and secretaries, affirms the resolution NKFR.

7. Members of Certifying commissions are appointed for a period of up to 2 years.

8. Certifying commissions have the following powers:

1) is developed by questions for certification;

2) for hour prior to certification is sealed by envelopes with sets of tests and provide carrying out draw of sets;

3) are checked the identity of candidates according to the identity certificate;

4) distribute candidates in places, in alphabetical order, providing silence and confidentiality;

5) is distributed by examination tests and standard forms for answers;

6) is collected by examination tests and standard forms for answers;

7) are analyzed and enter in minutes notes concerning the organization and carrying out certification;

8) constitute the protocol on carrying out certification to which the candidate list and the received results is attached;

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