The amendments are aimed at minimizing the risks that arise when the NBM identifies concerted actions, as well as the direct or indirect acquisition or increase of a stake in such organizations. At the same time, the bill clearly defines the measures that the supervisory authority is authorized to take in such situations.
Thus, the purchase of significant blocks of shares or stakes in payment companies will be possible only with the prior authorization of the NBM. If direct or indirect owners, including ultimate beneficial owners, do not comply with this requirement, have not provided the National Bank with the necessary information, or if the NBM determines that the stakes were acquired through concerted action without its authorization, the regulator may impose sanctions.
In particular, the NBM may order the following measures: to suspend the right to vote on shares/stake interests, the right to convene and hold a general meeting, to include items on the agenda, to nominate candidates to governing bodies, as well as the right to receive dividends—in whole or in part; revoke a previously issued preliminary authorization; require owners whose authorization has been revoked or whose rights have been suspended to sell the shares or equity interests they hold; and impose other sanctions and measures in accordance with the law
In addition, procedures for establishing the existence of concerted actions, as well as for acquiring equity interests in non-bank payment service providers without the prior consent of the NBM, have been standardized. These mechanisms are now similar to those applied to licensed banks.
Non-bank payment service providers are companies and institutions licensed to provide payment services without holding bank status. They are authorized and regulated by the National Bank of Moldova (NBM) and typically include payment companies, electronic money issuers, and postal service providers offering payment services. Currently, there are 11 non-bank payment service providers registered in Moldova.
