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

of February 26, 2010 No. 8/6

About approval of Regulations about disclosure of information on the rendered services by professional participants of the non-bank financial market

Based on Article 3, Item b) Article 8 and part (1) article 21 of the Law on the National commission on the financial market No. 192-XIV of November 12, 1998 (No. 117-126 BIS), with subsequent changes and amendments is repeatedly published in the Official monitor of the Republic of Moldova, 2007, parts (5) article 55 of the Law on the security market No. 199-XIV of November 18, 1998 (Art. No. 183-185, 655), with subsequent changes and amendments, parts (3) Article 43 and part (5) Article 53 of the Insurance law No. 407-XVI of December 21, 2006 (The official monitor of the Republic of Moldova, 2007, Art. No. 47-49, 213), with subsequent changes and amendments, parts (2) article 46 of the Law on savings and loan associations No. 139-XVI of June 21, 2007 (The official monitor of the Republic of Moldova, 2007, Art. No. 112-116, 506) is repeatedly published in the Official monitor of the Republic of Moldova, 2008, with subsequent changes and amendments, National commission on the DECIDES: financial market

1. Approve Regulations about disclosure of information on the rendered services by professional participants of the non-bank financial market.

2. This resolution becomes effective in month from the date of publication.

Approved by the Resolution of Administrative board of the National commission on the financial market of the Republic of Moldova of February 26, 2010, No. 8/6

Regulations about disclosure of information on the rendered services by professional participants of the non-bank financial market

I. General provisions

1. The regulations about disclosure of information on the rendered services by professional participants of the non-bank financial market (further - Regulations) establish procedure for representation of the public, to clients and prospective clients (further - clients) information on financial position of professional participants and on the provided services.

2. Provisions of Regulations extend to the following professional participants of the non-bank financial market (further – professional participants): the licensed and authorized persons in the capital market, professional participants of the market of insurance, non-state pension funds, savings and loan associations, non-bank credit institutions and bureau of credit histories.

3. The professional participant shall represent to the public and clients reliable and transparent information according to the procedure and to the terms established by these Regulations.

4. The regulations do not cancel obligation of professional participants to represent, publish or to otherwise open information provided by other existing regulations.

II. Information on activities of the professional participant

5. The professional participant shall make available to the public and clients at least the following information:

1) full name;

2) IDNO code;

3) the location and as necessary, the address of separate division where services were concluded;

4) information on management of the professional participant (the organizational structure, persons owning qualification certificates, channels of provision, separate divisions, structure of council of society and executive body);

5) available information on observance of the financial prudential regulations established by the legislation (equity, reserves, guarantee funds, liquidity, etc.);

6) information on the provided financial services and products and the applied rates;

7) No. 58/9 is excluded according to the Resolution of the National commission on the financial market of the Republic of Moldova of 28.06.2012

8) information on assets, obligations, the income and expenses, on the number of agreements for the last year of activities;

9) information on divisions, authorized to accept and resolve addresses/claims of clients;

10) internal regulations of work with clients;

11) the copy of the license and/or the permission issued by the National commission on the financial market (further – the National commission);

12) the copy of the decision on suspension of operations or about suspension of action of the license of the professional participant commencing on the effective date and for the entire period of action - in case of adoption of such decision.

6. Information specified in Item 5, is located on bulletin board at office of the professional participant, in the location and in its separate divisions, on own web page (if it is created) and is updated within 5 working days from the date of change. The professional participant can provide the specified information and in the form of the brochure.

7. The professional participant shall provide to clients the following information on the service provision agreement in the non-bank financial market:

1) the law and regulations on which the agreement is based;

2) documents which need to be provided for the conclusion of the agreement;

3) disjunctive conditions of the agreement;

4) conditions, the amount of complete payment and payment due dates for the rendered services;

5) procedure for termination of the contract;

6) consequence (sanction) of failure to carry out of the agreement by the parties;

7) procedure of permission of possible disputes;

8) the standard agreement about rendering services.

8. The professional participant stores in the location and provides to clients access, according to their statement, to the following documents:

1) charter;

2) annual statements for the last three years of activities submitted the National commission;

3) opinion of the auditor if audit it is stipulated by the legislation;

4) strategy and the prospects of development of activities of the professional participant in the non-bank financial market if they were developed;

5) the internal regulations or procedures connected with consideration and permission of claims of clients or prospective clients;

6) other internal regulations which can be for the benefit of clients and the public.

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