Ministry of Justice
Republic of Moldova
On February 20, 2015 No. 1026
of December 20, 2014 No. 62/20
About approval of the Regulations on transparency and openness of organization activity of collective investment into securities and societies of trust management of investments
Based on Art. 114 of the h. (1), (3), (8), (12) and Art. 140 of the h. (15) the item c) and the item d) the Law No. 171 of July 11, 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 transparency and openness of organization activity of collective investment into securities and societies of trust management of investments.
Chairman of the National commission on the financial market
to the Resolution of the National commission on the financial market of the Republic of Moldova of December 20, 2014 No. 62/20
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 and Directives 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.
1. The regulations on transparency and openness of organization activity of collective investment into securities and societies of trust management of investments (further - the Provision) determine structure of specialized and periodic reports of societies of trust management of investments (further – ODUI) and the organizations of collective investment into securities (further - OKITsB), procedure for their creation and term of representation of the National commission on the financial market (further – the National commission), and also content and structure of the promotional material OKITsB.
2. For the purpose of this provision the concepts determined by the Law on the capital market No. 171 of July 11, 2012 are used (further – the Law No. 171 of 11:07. 2012).
3. ODUI constitutes specialized and periodic reports on own activities and on the activities managed by OKITsB which are published in the publication specified in constituent acts or rules of fund take place on own electronic page and are represented to the National commission.
4. The annual financial reports and semi-annual financial statements ODUI / investment company constituted according to the operating system of normative regulation of financial accounting and the audit report on annual financial position are attached to the specialized annual and semi-annual reports specified in Item 6 of this provision.
5. Reports, stipulated in Item the 6th this provision, are represented to the National commission on papers and electronically and are published in the terms specified in part (9) article 114 of the Law No. 171 of 11.07.2012. The reports provided by subitems 5) and 6) of Item 6, are not represented by self-regulating investment company.
6. The structure of specialized reports of ODUI and OKITsB includes:
1) the Report on provision of assets and liabilities of OKITsB constituted according to appendix No. 2.
2) the Income and expenditure statement of OKITsB and ODUI constituted according to appendix No. 3.
3) the Report on structure of investments of OKITsB constituted according to appendix No. 4.
4) the Report on the size of fund of guaranteeing investments of OKITsB constituted according to appendix No. 5.
5) the Report on the agreements signed by ODUI with managed by OKITsB, constituted according to appendix No. 6.
6) the Report on charges and the commission fees earned by ODUI, constituted according to appendix No. 7.
7. The reports specified in Item 6 of this provision are represented in I and III quarters prior to the 25th following reporting quarter.
8. ODUI for each managed OKITSB / self-regulating investment company weekly submit the report on net asset value on one share or one share for each working day constituted according to appendix No. 8. This report is certified by depositary of the relevant OKITsB. Deadline of submission of the weekly report is every Friday of week on which the report, is constituted till 17:00. In case of non-working holidays deadline of submission of the weekly report is the prior working day.
9. The report on net asset value on one share or one share is weekly published in the publication specified in constituent acts of investment company or rules of fund and is placed on the ODUI electronic page.
10. Date of submission of the report date of the actual transfer of reports to the National commission, stipulated in Item 6 (with appendix of the title page) or Item 8 is considered. The title page shall contain information specified in appendix No. 1. The report on net asset value on one share or one share, stipulated in Item 8, is submitted without title page.
11. Within three working days from the date of submission of special semi-annual and annual statements of the National commission of ODUI / the investment company publishes on the electronic page the explanatory note intended to investors about availability of reports in which it specifies procedure for their obtaining, and also date of publication.
12. Officials of ODUI / provide to investment company compliance of the data containing in information provided electronically with the data containing in information provided on papers.
13. In report forms all provided indicators are filled. In case of lack of the ranks or columns this in the corresponding headings the crossed out section is put (-).
14. Corrections are not allowed. In case of assumption of mistakes when filling correction are certified by persons which signed the report and date of correction of the report is specified.
15. Reports shall be strung together and numbered, and on the title page it should be noted the submitted reports and total quantity of the sheets containing in them.
16. Reports are signed by the official of ODUI / investment company, responsible for creation and submission of reports, and in its absence – person, the acting as the corresponding official, and also the worker responsible for creation of reports, and ODUI / investment company are certified by seal.
17. Officials of ODUI / self-regulating investment company which signed reports bear responsibility for reliability of the data containing in them according to provisions of the civil, administrative and penal legislation.
18. In case of identification by the reporting subject and/or the National commission of certain mistakes in the data ODUI containing in the report / the self-regulating investment company shall submit the corrected report within one working day by means of the official letter with the corresponding explanations.
19. Reports are submitted the National commission on paper and electronically: by introduction in System of information management of the National commission or through e-mail with observance of form of filling according to this Provision. The report electronically shall be identical to the report on paper.
20. The promotional material about OKITsB is any information or the document transferred by any public means of communication, which are intended for attracting investors and influencing their decisions on investment.
21. Distribution of any promotional material about OKITsB is allowed only according to provisions of the Law on advertizing No. 1227-XIII of June 27, 1997 and this provision.
22. Promotional materials OKITsB before their public distribution are vised by the representative of department of internal control of ODUI / self-regulating investment company. Copies of all promotional materials are stored in office of ODUI / self-regulating investment company during two years from the date of their origin / afishirovaniya. ODUI / the self-regulating investment company represents to the National commission on demand all promotional materials.
23. Distribution of promotional materials before publication of the prospectus of the issue of OKITsB registered by the National commission is not allowed.
24. If it is determined that the distributed or published promotional material violates instructions of this provision, and also other regulations, the National commission demands from ODUI / self-regulating investment company to withdraw the promotional material, to stop its further distribution and to bring it into accord with conditions of Item of 21 this provision.
25. The promotional material observes the following principles:
1) the message transferred by means of the promotional material, and also information containing in it, shall be truthful, accurate, not mislead investors and correspond to information containing in the prospectus of the issue of OKITsB;
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