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The document ceased to be valid since  December 4, 2015 according to item 4 of the Resolution of the National commission on securities of the Republic of Moldova of  August 26, 2015 No. 49/3

RESOLUTION OF THE NATIONAL COMMISSION ON SECURITIES OF THE REPUBLIC OF MOLDOVA

of December 17, 2002 No. 48/7

About approval of regulations about broker and dealer activities

(as amended on 28-03-2006)

For the purpose of reduction of the regulations regulating broker and dealer activities in the security market according to requirements of the current legislation, the National commission on securities DECIDES:

1. Approve Regulations on broker and dealer activities in the security market (Appendix N 1).

2. Approve the Standard agreement about broker servicing (Appendix N 2).

3. Approve the Standard order (Appendix N 3).

4. Cancel:

- The decision of State commission on the N20/2 security market from

10.08.1995 about approval of Provisional regulations for brokers (The official monitor of the Republic of Moldova, 1996, Art. N5-6, 6).

- The temporary instruction about procedure for acceptance of orders on the security sale on the Stock exchange approved by State commission on the security market of 16.06.1995. (Official monitor of the Republic of Moldova, 1996, N 13, Art. 15).

5. Members of the security market within one month from the effective date this provision should bring the activities into accord with its requirements.

 

Chairman of the National commission on securities

Ion Rob

Appendix No. 1

to the Resolution of the National commission on securities of the Republic of Moldova of December 17, 2002 No. 48/7

Regulations on broker and dealer activities in the security market

1. General provisions

1.1. The regulations on broker and dealer activities in the security market (further - provision) are approved based on the Law on the security market, the Law on the National commission on securities and others legislative and the regulations regulating activities in the security market.

1.2. Regulations of this provision extend to activities of the professional participants of the security market having the licenses on broker and/or dealer activities issued by the National commission on securities (further - the National commission).

1.3. The provision establishes general requirements to broker and dealer activities in the security market, rules of its implementation and restriction to these types of activity, requirements to the agreement on broker servicing, responsibility for non-compliance with the regulations established according to acting legislative and regulations.

1.4. The terms and concepts used in this provision have the following values:

broker activities - transactions of purchase and sale of securities by the broker as the attorney or the broker who is acting on the basis of the agreements of the order or the commission, and in case of absence in the contract of instructions for powers of the attorney or the broker - based on the power of attorney on making of the specified transactions;

dealer activities - security purchase on its own behalf and at own expense for subsequent their sale for the purpose of profit earning;

the stock exchange agent - the physical person hired by the broker or the dealer, owning qualification certificates on the right of carrying out transactions with the securities issued by the National commission and Stock exchange and which got permission of Stock exchange to carrying out the activities connected with security transactions within Stock exchange;

the calculating agent - the member of National securities depository (depositary of fund, bank keeper) who according to Rules of National securities depository perfroms calculations for the bargain concluded on the Stock exchange by other participant for the benefit of the client of the first participant (investment fund or other institutional investor).

the broker - the legal entity, the professional participant of the security market which based on the license granted by the National commission performs broker activities;

the standard agreement - the agreement model established by the National commission on main types of servicing of members of the security market. Accomplishment of conditions of such agreement is obligatory for the parties which imprisoned him. The additional terms which are not contradicting the established regulations can be entered into it;

the broker - person promising through the commission agreement at the request of other party (consignor) to sign for remuneration the agreement or several agreements on its own behalf, but at the expense of the consignor;

the dealer - the legal entity, the professional participant of the security market which based on the license granted by the National commission performs dealer activities;

the nominal owner of securities - the professional participant of the security market who owns securities on its own behalf at the request of owners or other nominal owners of securities and is not owner of these securities;

the issuer's insider - persons corresponding to one of the following categories:

a) officials of the issuer, including members of the supervisory board, the board of directors, board, audit committee and other governing bodies;

b) persons controlling the issuer;

c) persons who owing to post, either according to the agreement, or owing to transfer of the appropriate right by the issuer or other his insider have access to confidential information;

d) physical persons which within the last six months somehow fell under action of Items and), b) or c);

e) physical persons, afillirovanny with persons specified in Items a) - d);

the attorney - person undertaking to perform through the agreement of the order certain legal acts from name and at the expense of other party (principal);

the order - the specifying about offer/demand of purchase and sale of securities constituted according to requirements of this provision;

the client's representative - person who according to the civil legislation represents the client. If the agreement on broker servicing provides delegation to the broker of powers on signing of the transfer order, including addressed to the broker, he will be the client's representative.

2. General requirements to implementation of broker and dealer activities in the security market

2.1. When implementing professional activity with securities the broker and the dealer shall:

(1) it is fair to fulfill the duties proceeding from the carried-out transactions and other obligations which are directly connected with implementation of professional activity in the security market;

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