OREANDA-NEWS.  On 04 June was announced, that Moldovan National Commission on the Financial Market adopted the Regulation on the activity of the territorial NCFM’s representations.

This decision was taken at the meeting of the Administrative Board of the commission on May 28. The document establishes the way of organization of activity as well as the scope of the competence of territorial representations. In addition, the area of territorial expansion of NCFM representations in Balti and Cahul was set. The National Commission on the Financial Markets is the legal successor of the National Securities Commission, the State Inspectorate for Supervision of the insurance and the non-state pension funds as well as the State Service of supervision over loan-saving associations at the Ministry of Finance. The main tasks of the Commission are: strengthening stability, transparency, security and efficiency of the financial sector through the adoption and application of relevant normative acts in order to ensure the regulation and supervision of the financial market’s participants, to reduce systemic risks, as well as to prevent disloyalty and mismanagement in the financial sector, to protect the interests of the clients and the investors. The NCFM supervises activity of the securities’ issuers, investors and professional participants at the securities market, insurance companies, insurance brokers, non-state pension funds, microfinance institutions, loan, saving associations, mortgage lending and credit bureaus.