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Ministry of Justice

Republic of Moldova

On February 27, 2015 No. 1027

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

of December 20, 2014 No. 62/21

About approval of the Regulations on prudential requirements to activities of society of trust management of investments

Based on Art. 101 of the h. (1), Art. 104 of the h. (2), Art. 105 of the h. (1) item d) and h. (2) the item b), Art. 113 of 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 prudential requirements to activities of society of trust management of investments according to appendix.

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

Chairman of the National commission on the financial market

Artur Hermann

Appendix

to the Resolution of the National commission on the financial market of the Republic of Moldova of December 20, 2014 No. 62/21

Regulations on prudential requirements to activities of society of trust management of investments

This Provision is partial transposition of the Directive 2009/65/EU of the European Parliament and Council of July 13, 2009 about approval of acts of the legal force and administrative acts about the organizations of collective investment into securities (OKITsB) (reforming) published in the Official magazine of the European Union by L 302 of November 17, 2009, the Directive 2010/43/EU of the Commission of July 1, 2010 about application of the Directive 2009/65/EU of the European Parliament and Council in the part relating to organizational requirements, conflicts of interest, rules of conduct, risk management and contents of the agreement between depositary and society of trust management, published in the Official magazine of the European Union by L 176 of July 10, 2010 and the Regulations of the Commission (EU) No. 583/2010 of July 1, 2010 about application of the Directive 2009/65/EU of the European Parliament and Council in the part relating to the key information intended to investors and to conditions which accomplishment is necessary in case of submission of the key information intended to investors, or the prospectus on the tough carrier, except paper, or by means of the electronic page, the European Union published in the Official magazine of L 176 of July 10, 2010.

Chapter I. General provisions

1. The regulations on prudential requirements to activities of society of trust management of investments (further – the Provision) establish prudential regulations of the organization and functioning of society of trust management of investments (further – ODUI), namely requirements about check of compliance, about risk management and conflicts of interest in personal transactions, rules of conduct, expense categories of the organizations of collective investment into securities (further – OKITsB), restrictions in case of receipt of loans, etc.

2. This Provision is applied to licensed ODUI which provides services in asset management of OKITsB. Concept ODUI implies as well investment company which is controlled independently as a result of receipt of the corresponding license.

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