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Parliament approved, on first reading, a draft law on financial instruments developed by the Ministry of Finance.
The bill establishes the legal framework applicable to financial instruments markets, as well as to investment services and activities carried out in Moldova. Its purpose is to ensure the integrity, orderly functioning, and stability of financial instruments markets, as well as to enhance investor protection.
The provisions of the law will apply to investment firms, market operators, trading venues, as well as investment firms and companies from other countries that provide services or conduct business within the territory of the Republic of Moldova.
The draft law establishes the conditions for access to investment activities, as well as requirements for the authorization, organization, operation, and supervision of investment firms and credit institutions in the Republic of Moldova. It also introduces transparency requirements for financing transactions involving financial instruments.
The National Commission for the Financial Market will be responsible for monitoring this area. In this regard, the Commission will develop IT systems to effectively monitor participants in the financial instruments market.
The draft law on financial instruments markets and investment activities will be considered by Parliament in its second reading. Once adopted, the new provisions will take effect six months after publication in the Official Gazette, with the exception of certain provisions that will become applicable upon the Republic of Moldova’s accession to the European Union.
