The National Commission for Financial Markets adopted a package of authorisation and supervisory decisions covering the capital market and consumer protection. It registered the results of a non-cash additional share issue by Joint Stock Company Drumuri-Strășeni and took enforcement steps against non-bank lenders OK CREDIT and CREDITBUN, while upholding its earlier finding that a Comerțbank deposit term allowing unilateral interest changes is abusive. The Drumuri-Strășeni issuance was registered at MDL 748,800, comprising 74,880 ordinary registered shares, taking the company’s share capital to MDL 35,565,880 divided into 3,556,588 class I ordinary registered shares with a nominal value of MDL 10 each. Following a consumer petition, the Commission identified abusive terms in OK CREDIT’s surety agreement that required the guarantor to immediately notify the lender if the guarantor’s assets were seized or under dispute and restricted the guarantor from entering other loan or guarantee contracts without the lender’s consent. It also found multiple breaches by CREDITBUN of consumer credit and consumer protection rules, including presenting interest as a daily percentage rather than annual, missing the credit intermediary’s address in the contract, using non-compliant pre-contractual disclosures, omitting early repayment rights and procedures, and excluding intermediary fees from the annual percentage rate calculation, which led to misleading cost disclosures; the Commission prohibited the use of these practices. Separately, it rejected Comerțbank’s request to overturn a prior decision, maintaining that a clause allowing the bank to change the interest rate unilaterally without clear criteria was abusive, and it lifted a prior restriction on Joint Stock Company Cicec after the company complied with its obligation to maintain the securities holders register. The Commission indicated it will bring a court action to have the abusive surety clauses used by OK CREDIT declared null.
National Commission for Financial Markets 2025-08-22
Moldova's National Commission for Financial Markets registers Drumuri-Strășeni share capital increase and bans unfair consumer credit practices
The National Commission for Financial Markets adopted decisions on capital market and consumer protection, registering a non-cash share issue by Drumuri-Strășeni and taking enforcement actions against non-bank lenders OK CREDIT and CREDITBUN for abusive practices. It upheld a previous finding against Comerțbank for an abusive deposit term and lifted a restriction on Joint Stock Company Cicec after compliance. The Commission plans to seek a court ruling to nullify abusive surety clauses used by OK CREDIT.