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

of December 5, 2023 No. 60/10

About approval of Regulations about administrative production on control

Based on part (1-2) articles 9 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 administrative production on control it (is applied).

2. The choice of professional participants of the non-bank financial market and subjects of the relations connected with control in the field of consumer protection provided by parts (2) and (21) article 4 of the Law on the National commission on the financial market No. 192/1998, it will be performed based on Methodology of selection of the subjects which are subject to control, the approved National commission on the financial market.

3. Before development and approval of Methodology of selection of the subjects which are subject to control, establishment of the subjects which are subject to control is performed taking into account the following indicators:

1) the subject's scale, amount and nature of the performed activities;

2) disproportion of the registered indicators or identification of suspicious events;

3) the number of petitions concerning the subject;

4) frequency of the previous checks;

5) types of the violations revealed earlier;

6) the number of earlier applied sanctions.

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

Approved by the Resolution of the National commission on the financial market of the Republic of Moldova of December 5, 2023, No. 60/10

Regulations about administrative production on control

Chapter I General provisions

1 Vida's part and bases of activities for control

1. These Regulations establish material and procedural basis of the activities for monitoring procedure (control) performed (performed) by the National commission on the financial market (further – NKFR).

2. These Regulations do not extend to the remote analysis and researches conducted within administrative productions on issue of the conclusions, approvals, confirmations and approvals, and also, to remote supervision and assessment of execution of instructions of NKFR, based on the provided information, performed within its competence according to the regulatory base.

3. In case of the received petitions which contain requirements of intervention of supervision body in the form of monitoring procedure NKFR, originally, performs administrative production by the remote analysis of the actual situation, proceeding from the circumstances reflected in the petition.

4. The terms and expressions used in these Regulations have the values provided by the regulations relating to each sphere of competence NKFR.

5. NKFR performs, in the limits of the competence set by the law, control concerning professional participants of the non-bank financial market and subjects of the relations connected with control in the field of consumer protection, provided by parts (2) and (2-1) articles 4 of the Law on the National commission on the financial market No. 192/1998, which are referred to as further – "participant" or "the subject which is subject to control".

6. For the purpose of accomplishment of the powers / activities for control NKFR has the right to cooperate and communicate with any other organizations, bodies and the authorities in the country and abroad in accordance with the terms of the Law No. 192/1998.

7. In value of these Regulations activities for control are set of all actions of planned or unplanned nature, carried out, according to the decision of NKFR authorized by control group for the purpose of check of the activities/actions performed by the participant and for the purpose of observance of regulations by it, in competence of NKFR.

8. Allocate the following types of activity on control:

1) planned is type of activity on control based on the Plan of activities for control constituted according to Methodology of selection of the subjects which are subject to control, the approved NKFR. Planned control can be:

a) thematic - includes certain aspects / activities of the participant, certain actions, risks or certain problem of the participant, for certain period of its activities;

b) complex – consists in internal complete check деятельности/действий/процессов/механизмов, belonging to certain period of time or the financial reporting, and accomplishment of one or several obligations, in certain time, according to the falling legislation.

2) unplanned/sudden (inspection) – type of activity on control, not provided by the Plan of activities for control;

3) territorial – type of activity on control on the location of the subject which is subject to control or in its divisions;

4) from office of NKFR – type of activity on control remotely.

9. Control will be organized according to the single procedure for all sectors of supervision of NKFR according to provisions of these Regulations.

10. Activities for control in the field of supervision of observance of the rights of consumers are performed by the corresponding application of provisions of these Regulations.

11. Control of activities of the participant is exercised on the basis:

1) Plan of activities for control;

2) the essential information which became known of various demonstrable sources (specialized reports, financial statements, court documents or documents of law enforcement agencies, etc.), on variations / expected variations from legislation provisions in the field of the non-bank financial market, the legislation on the prevention and anti-money laundering and terrorism financing, and also, legislations in the field of consumer protection allowed or declared to assumption by the participant or with its participation;

3) the conclusions formulated by NKFR, on the basis, the revealed according to the considered addresses, repeating nature of some actions / failure to act of the participant;

4) need of check of the participant in the conditions of consideration of the applications on issue of allowing documents, depending on circumstances and only within this purpose;

5) in advance proved need about check of the participant concerning events which can affect/influence its economical financial activities if these events are confirmed with the proofs which are available for NKFR and there is no different way to obtain this information;

6) checks of execution by the participant of instructions/preventions on elimination of the violations including revealed in case of the last control in one of the following cases:

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