Document from CIS Legislation database © 2003-2019 SojuzPravoInform LLC

LAW OF THE REPUBLIC OF MOLDOVA

of November 12, 1998 No. 192-XIV

About the National commission on the financial market

(The last edition from 16-03-2018)

The parliament adopts this organic law.

Chapter I General provisions

Art. 1. - (1) the National commission on the financial market (further - the National commission) is the autonomous public body responsible before Parliament and performing regulation and licensing of activities of members of the non-bank financial market, and also supervision of observance of the legislation by them. For this purpose the National commission is allocated with powers to make relevant decisions, to provide privileges, to exercise intervention, control, to impose prohibitions, authority and administrative punishments in the limits set by the legislation.

(2) the National commission is legal entity, has own balance, seal with the image of the State Emblem and the name. Powers of the National commission are valid in all territory of the Republic of Moldova.

(3) the Location of the National commission is the municipium of Chisinau. If necessary it opens the representations on places performing activities according to the provisions approved by it.

Art. 2. - (1) the National commission performs the activities according to requirements of the Constitution, this law, other legal acts, with provisions of own regulations and it is independent in case of realization of the powers.

(2) the National commission annually till June 1 submits to Parliament the report considered at plenary meeting of Parliament, containing information on functioning of the non-bank financial market and on the activities for previous year including budget implementation, with the subsequent publication of the report on the official web page of the National commission. According to one copy of the report goes to the President of the Republic of Moldova and the Government for informing.

Art. 3. - The main objectives of the National commission are ensuring stability, transparency, safety and efficiency of the non-bank financial sector, the prevention of systemic risks and manipulation in the non-bank financial market, protection of the rights of members of the non-bank financial market.

Art. 4. - (1) Powers of the National commission extend to members of the non-bank financial market whom treat: issuers of securities, investors, insurers, self-regulatory organizations in the capital market, National bureau of insurers of vehicles of the Republic of Moldova, members of savings and loan associations, clients of non-bank credit institutions and professional participants of the non-bank financial market.

(2) Professional participants of the non-bank financial market (further - professional participants) are persons licensed or authorized in the capital market, professional participants of the insurance market, non-state pension funds, savings and loan associations, non-bank credit institutions and bureau of credit histories.

(3) Powers of the National commission on regulation, licensing and supervision of professional participants do not duplicate power of National Bank of Moldova.

(4) the National commission has organizational, functional, operational and financial independence according to this law.

(5) In accomplishment of the functions and powers established by this law and legal acts corresponding to each subsupervising area, the National commission cannot be limited to any of authorities.

(6) Provisions of the Law on regulation of business activity by permission No. 160/2011 in the non-bank financial market are not applied.

Art. 5. - (1) the National commission has the right to cooperate with the relevant specialized international organizations and to be their member.

(2) the National commission has the right to give help to the specialized international organizations and similar bodies of other states according to the legislation and to communicate with them about the non-bank financial market and about his participants.

Art. 6. - (1) the National commission is financed only from:

a) charges in the amount up to 0,5 of percent of the amount of issue of securities, except for bond emissions for which the amount of collection constitutes to issue amount percent 0,1;

b) charges in the amount up to 0,1 of percent of the amount of the issue of securities performed for the purpose of consolidation, crushing or converting before issued securities;

c) charges from the transactions of purchase and sale performed in the controlled market:

- in the amount up to 0,1 of percent of the transactions registered in the mode of the interactive market;

- in the amount up to 0,3 of percent of the transactions registered in the mode of the direct market;

d) charges at the rate to 1 percent of transactions of purchase and sale of the securities performed on out of the controlled market;

e) charges at the rate to 1 percent of security transactions, others what specified in Items c) and d);

e-1) of charges in the amount up to 0, percent of cost of transactions in connection with succession of securities, but not over 2 million lei;

f) payments for approval of transfer of portfolio of the insurer at the rate to 1 percent of cost of the transferred portfolio;

g) No. 225 voided according to the Law of the Republic of Moldova of 15.12.2017

h) the regulatory payments for ensuring functioning which are annually paid by professional participants namely:

Full text available with active License only!

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 38000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.