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

of November 1, 2022 No. 57/11

About approval of Regulations about the organization and functioning of the National commission on the financial market

Based on part (1) Articles 1, parts (1) Articles 2, parts (1) Article 20 and part (1) article 22 of the Law on the National commission on the financial market No. 192/1998 (repeated publication: Official monitor of the Republic of Moldova, 2007, No. 117-126 BIS) National commission on the DECIDES: financial market

1. Approve Regulations about the organization and functioning of the National commission on the financial market it (is applied).

2. Declare invalid the Resolution NKFR No. 49/16 of 1.11.2018 about approval of Regulations about the organization and functioning of the National commission on the financial market (The official monitor of the Republic of Moldova, 2018, No. 430 - 439, the Art. 1694).

3. This resolution becomes effective from the date of publication in the Official monitor of the Republic of Moldova.

Appendix

to the Resolution of the National commission on the financial market of the Republic of Moldova of November 1, 2022 No. 57/11

Regulations about the organization and functioning of the National commission on the financial market

Section 1 General provisions

1. The regulations about the organization and functioning of the National commission on the financial market (further - Regulations) regulate institutional functioning (in particular, administrative activities), legal regime of decisions, the procedure of personnel recruitment, and also other aspects concerning activities of the National commission on the financial market (further - the National commission or NKFR).

2. The national commission provides transparency of the activities by means of maintenance of the official web page, distribution of information by means of information messages, press conferences, briefings, public debate and other means of communication.

3. Administrative activities of NKFR are performed generally within the administrative production initiated according to the statement or on own initiative with respect for the general and special principles provided by the Administrative code.

4. The remote analysis (monitoring) which is carried out constantly for the purpose of check, the analysis or assessment of elements of compliance and/or risk elements, concerning the activities performed by persons under surveillance subjects and also for the purpose of observance of legislation provisions by them, does not require initiation of administrative production. Administrative production is initiated only when as a result of the remote analysis signs of non-compliance with the accompanying regulatory base are revealed or there was need of representation of further explanations.

5. Within administrative activities members of Administrative board and the authorized staff of the National commission have the right to request from members of the non-bank financial market who in turn shall provide to the National commission any documents, oral and written explanations. In this sense the mentioned participants provide direct, open and timely entry to information, including digitized, to information systems, appendices and databases which are in their permission.

6. When implementing of the powers conferred by the Law on the National commission on the financial market No. 192/1998 (further - the Law No. 192/1998), members of Administrative board and the authorized staff of the National commission have right of access to the building, service premises and to the territory of members of the non-bank financial market.

7. The national commission has the right to cooperate with the specialized international organizations and to join them, and also to render assistance and to perform according to the legislation exchange of information about the non-bank financial market and its participants with the specialized international institutions and similar bodies of other states provided that guarantees of the state, commercial and professional secrets, at least equivalent the fact that are established in the legislation of the Republic of Moldova extend to the given information.

8. For the solution of especially important issues the National commission can create for a certain period of time working groups, control groups, councils, the commissions, etc., attracting to these purposes of scientists, experts specialists, independent experts, representatives of professional participants, public bodies and profile organizations.

9. For implementation of the powers established by the Law No. 192/1998, the National commission can sign the agreement or dispose about the conclusion of the contract for rendering specialized services according to the Plan of public procurements of NKFR for the corresponding year approved by the decision of Administrative board.

11. For initiation of the procedure of public procurement the structural division represents the explanatory note about need of purchase of the corresponding service with the reference to the Plan of public procurements and the predicted budget.

12. According to the explanatory note of structural division approved by the chairman of NKFR, the working group on public procurements starts procurement procedure.

13. If by any objective criteria it is necessary to sign the contract with certain offerer, the structural division prepares the explanatory note, reasoning for feasibility of the made decision.

14. Based on the explanatory note the Administrative board makes the decision on the conclusion of the contract with the specific offerer, and the working group on public procurements provides agreement signature.

Section 2 Legal regime of decisions of the national commission

16. For the purpose of implementation of the powers the National commission makes decisions in the form of resolutions. The legal regime provided by the Law No. 192/1998, the Administrative code and these Regulations which are drafted according to rules of record keeping of the National commission extends to resolutions NKFR.

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