of August 22, 2014 No. 41/10
About approval of the Regulations on registration of qualified persons in the sphere of assessment of shares in the Register of the authorized persons
Based on Art. 8 of the item m) and Art. 25 of the h. (2) the Law No. 192-XIV of 12.11.1998 "About the National commission on the financial market" (it is repeatedly published in the Official monitor of the Republic of Moldova, 2007, No. 117-126 BIS), Art. 23 of the h. (3) the Law No. 171 of 11.07.2012 "About the capital market" (The official monitor of the Republic of Moldova, 2012, No. 193-197, the Art. 665) the National commission on the DECIDES: financial market
1. Approve Regulations on registration of qualified persons in the sphere of assessment of shares in the Register of the authorized persons.
2. This resolution becomes effective from the date of publication.
Deputy Chairman of the National commission on the financial market
Yuriye Phillip
Appendix
to the Resolution of the National commission on the financial market of the Republic of Moldova of August 22, 2014 No. 41/10
1. The regulations on registration of qualified persons in the sphere of assessment of shares in the Register of the authorized persons (further - the Provision) were developed based on Art. 8 of the item m) the Law No. 192-XIV of 12.11.1998 "About the National commission on the financial market" for the purpose of enforcement of Art. 23 of the h. (3) the Law No. 171 of 11.07.2012 "About the capital market".
2. This Provision establishes the procedure of registration in the Register of the authorized persons (further - the Register), and also conditions of preserving, suspension and withdrawal of the status of the authorized person.
For the purposes of this provision the concept "the authorized person" means person registered in the Register according to this Provision.
The terms used, but not determined in this Provision, concepts and expressions, have the values provided by the Law No. 171 of 11.07.2012 "About the capital market".
3. The national commission on the financial market (further – the National commission) according to stipulated by the legislation powers performs function of the owner and holder Reestr.
4. The register is kept by the National commission in manual form according to provisions of the Law No. 71-XVI of 22.03.2007 "About registers" and provides accounting of persons having the right to carry out assessment of shares.
5. Assessment of shares in conditions of the legislation on the capital market shall be performed only by the faces which are written down in the Register.
6. The register contains the following information:
1) sequence number of record;
2) full name of the authorized person;
3) IDNO;
4) legal address;
5) official;
6) Phone number, fax, e-mail address;
7) surnames and names of persons owning qualification certificates in the field of securities;
8) series, number and date of issue of the qualification certificate in the field of securities;
9) number and date of the decision of the National commission on entering of record into the Register;
10) date of suspension or withdrawal of the status of the authorized person.
7. Information which is stored in the Register reveals by means of the official web page of the National commission.
8. The legal entities registered in the Republic of Moldova who conform to requirements of this provision are entered in the Register.
9. The applicant shall satisfy the following minimum professional conditions:
1) officials and appraisers have good reputation, the ended economic higher education, high professional level and necessary competence for implementation of estimative activities, and also officials have also working experience in the field of assessment of values at least one year;
2) perform assessment in the field of the capital market according to international standards of assessment;
3) has at least one appraiser with the qualification certificate in the field of securities;
4) has no unspent conviction.
10. The statement for registration contains in the Register also information specified in the item of 6 subitems 1) of this provision. The following documents are enclosed to the application for registration in the Register:
1) the copy of the decision on registration of the legal entity certified by seal and the signature of the official;
2) it is excluded
3) the List of officials of the legal entity and appraisers who will carry out assessment of shares;
4) the internal regulations providing procedure for rendering services in determination of the share price;
5) the internal methodological regulations providing method of application of international standards of assessment;
6) the declaration of officials and appraisers on accomplishment of the professional conditions specified in the item 9 of this provision, and on lack of criminal records, signed by the official of the applicant;
7) the payment order about introduction of payment for registration in the Register in the amount of established by the resolution of the National commission on approval of the budget of the National commission.
11. The internal regulations providing procedure for rendering services in determination of the share price, specified in the item of 10 subitems 4) contain at least, the following regulations:
1) internal regulations of the internal organization of society;
2) procedures of rendering services in assessment of shares;
3) the regulations relating to accounting of the valuation reports constituted for clients on the provided services;
4) policy of conflicts of interest and application of conditions of independence within rendering estimative services;
5) rules of consideration of claims of clients and dispute resolution;
6) the approximate service provision agreement according to shares;
7) procedures and measures of internal control directed to the prevention and anti-money laundering and terrorism financing.
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