The new law is scheduled to take effect on June 1, 2027. After that, existing market participants will be required to submit an application for reauthorization by December 31, 2027, and bring their documents and internal regulations into compliance with the law.
There will be no fee for reauthorization. However, those who fail to meet the requirements by the deadline will not be able to continue operating as of January 1, 2028.
The new law will establish uniform rules for the creation and operation of funds, the activities of management companies, and the custody of assets, and will regulate the procedures for the reorganization, merger, and liquidation of funds. The draft was developed by the National Financial Market Commission and is being promoted by the Ministry of Finance.
The bill will establish requirements for management companies, asset custody, risk management, and investor disclosure.
Once Moldova joins the EU, local management companies will be able to offer investment products in the markets of other member states. Funds from other EU countries will be able to offer their products on the Moldovan market.
