Moldova's National Commission for Financial Markets adopted a set of board decisions covering capital markets authorisations and consumer protection supervision. The package includes registrations and cancellations in the securities issuers register and supervisory measures requiring a non-bank lender to remedy breaches of consumer credit rules, including refunds and interest recalculation. On authorisation, the Commission registered the placement results for shares issued on the establishment of Joint Stock Company ADMINISTRAȚIA NAȚIONALĂ A DRUMURILOR for MDL 20,342,100, comprising 203,421 registered ordinary shares with a nominal value of MDL 100 funded via non-cash contributions following the transformation of the State Enterprise ADMINISTRAȚIA DE STAT A DRUMURILOR. It also registered a restructuring of ART-NIC’s previously issued shares by increasing the nominal value per registered ordinary share from MDL 1 to MDL 30 and increasing share capital by MDL 580,000 from equity, resulting in share capital of MDL 600,000 divided into 20,000 shares with a nominal value of MDL 30. The Commission cancelled previously issued shares of BAZA DE TRANSPORT AUTO-12 EDINEȚ (122,599 shares) following its transformation into a limited liability company, cancelled ECA invest’s previously issued shares (4,000 shares) following liquidation, and cancelled previously issued securities of 22 joint stock companies after their removal from the state register of legal entities. On supervision, following a consumer petition the Commission found that non-bank credit organisation OK CREDIT breached Law No. 202/2013 on consumer credit contracts, including by charging an unlawful early repayment fee and applying interest incorrectly over the life of the contract, and by using abusive clauses on penalties, loan purpose and restrictions on the debtor’s freedom. It ordered the recalculation of interest in line with legal requirements and the return of unlawfully collected amounts, and will file a court action seeking a declaration that the abusive clauses are null. The Commission also rejected a pre-trial request by non-bank credit organisation CREDIT AUTO to annul an earlier Commission decision, citing a lack of arguments to contradict its prior findings, and urged shareholders of joint stock companies to verify and update their personal data in the shareholder register.
National Commission for Financial Markets 2025-07-25
Moldova's National Commission for Financial Markets updates the securities issuers register and orders OK CREDIT to refund illegal consumer credit charges
Moldova's National Commission for Financial Markets made decisions on capital markets authorizations and consumer protection, including securities issuers register changes. Actions included share registrations for ADMINISTRAȚIA NAȚIONALĂ A DRUMURILOR and ART-NIC, and cancellations for BAZA DE TRANSPORT AUTO-12 EDINEȚ and ECA invest. The Commission addressed breaches by OK CREDIT, ordering interest recalculations and refunds, and rejected CREDIT AUTO's pre-trial request to annul a prior decision.