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Ministry of Justice

Republic of Moldova

On July 19, 2018 No. 1344

RESOLUTION OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of July 11, 2018 No. 158

About approval of Regulations about supervision of Single Central Securities Depository

Based on the item f) parts (1) the Art. 5, parts (1) the Art. 11, the item c) parts (1) Art. 27 and Art. 49-2 of the Law on National Bank of Moldova No. 548-XIII of July 21, 1995 (repeated publication: The official monitor of the Republic of Moldova, 2015, Art. No. 297-300, 544), with subsequent changes and amendments, and the Art. 17, 23 - 24 Laws on Single Central Securities Depository No. 234 of October 3, 2016 (The official monitor of the Republic of Moldova, 2016, Art. No. 343-346, 711) DECIDES: Executive committee of National Bank of Moldova

1. Approve Regulations about supervision of Single Central Securities Depository according to appendix.

2. Provide to single Central Securities Depository application of the Regulations approved according to this resolution from the date of entry into force of the resolution of National Bank of Moldova on the beginning of activities of Single Central Securities Depository according to Art. 19 of the Law on Single Central Securities Depository No. 234 of October 3, 2016.

Chairman of Executive committee of National Bank of Moldova

Serdzhiu Chokl

Appendix

to the Resolution of executive committee of National Bank of Moldova of July 11, 2018 No. 158

Regulations about supervision of Single Central Securities Depository

Chapter I General provisions

1. These Regulations are developed based on the item f) parts (1) by the Art. 5, of part (1) the Art. 11, the item c) of part (1) Art. 27 and Art. 49-2 of the Law on National Bank of Moldova No. 548-XIII of 21.07.1995 and the Art. 17, 23-24 Laws on Single Central Securities Depository No. 234 of 3.10.2016 (further the Law 234/2016).

2. Supervision of activities of Single Central Securities Depository (further the Central depositary) is exercised by National Bank of Moldova based on the reporting, information provided by the Central depositary according to the Law 234/2016, and also these Regulations and/or by means of the checks performed in the location of the Central depositary.

3. The concepts and expressions used in these regulations have the values provided in the Law on National Bank of Moldova No. 548-XIII of 21:07. 1995, the Law 234/2016, the Law on finality of calculations in payment systems and settlement systems for financial instruments No. 183 of 22.07.2012.

Chapter II of the Obligation of the Central depositary

4. The central depositary transfers daily (but to not later than 10.00) National Bank of Moldova (further NBM):

1) reports and information on activities for offset (clearing) and calculation the previous operational day for the purpose of accomplishment of NBM of powers according to the systemic risk connected with settlement and clearing systems of system value;

2) the report on operational incidents which took place in the previous operational day and influenced proper provision of basic services, the measures taken for their liquidation and their results.

5. The central depositary notifies directly NBM, but no later than the next working day from the date of approach of event, on the following situations:

1) violation of regulations and procedures of the Central depositary by his participants, and also the undertaken/approved measures for improvement;

2) the report on any operational changes affecting activities or interrelations of the Central depositary;

3) cases of identification of conflict of interest during the considered period, including the description of method to which they were resolved.

6. Upon the demand of NBM the Central depositary transfers protocols of meetings of general shareholder meetings.

7. The central depositary transfers NBM quarterly no later than 20 working days after the termination of quarter the following information:

1) financial statements the last quarter;

2) data on quantity and types of participants, issuers and their accounts;

3) number, type and the number of the securities which are in property and/or processed in the Central depositary.

8. The central depositary transfers NBM annually till April 30 the following information and documents:

1) the activities report of the Central depositary containing at least:

a) organizational and functional structure;

b) outsourcing of types of activity and services;

c) internal control system;

d) the measures taken for ensuring compliance with regulations, storage of accounts, registration of the translations of the property rights and also the measures taken for the purpose of anti-money laundering and terrorism financing;

e) management of risks to which it can be subject;

2) the financial reporting of the Central depositary confirmed with audit;

3) data on civil, administrative processes or any other judicial or extrajudicial processes in which are involved the Central depositary, the organization to which activities or services of the Central depositary or the infrastructure organizations of the capital market with which it interacts were transferred to outsourcing;

4) data on identification of critical transactions of the Central depositary, any essential changes made to the plan of recovery, results stress scenarios, factors and instruments of recovery of the Central depositary;

5) data on the official complaints received by the Central depositary during the considered period;

6) data on internal control and the inspections which are carried out by the Central depositary during the considered period;

7) data on number, type and degree of the problems on reconciliation established by the Central depositary as internal, and in relation to participants, the controlled markets or multilateral trade systems;

8) structure of shareholders of the Central depositary with indication of for each shareholder about quantity and type of the shares which are in property, and also percent of shares with voting power, being in property;

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