Moldova’s National Commission for Financial Markets (CNPF) adopted a package of board decisions spanning capital markets authorisations and consumer-protection supervision. The measures include approval of a municipal bond public offer by Costești and registration of several equity and debt issuance results, alongside enforcement steps targeting abusive consumer credit clauses and misleading foreign-exchange rate disclosures. The Costești offer covers 45,000 registered, dematerialised, non-convertible bonds (MDL 100 nominal each) for a total of MDL 4,500,000, split into three MDL 1,500,000 classes to fund completion of a wastewater treatment plant and commissioning of the local sewerage system. Classes I and II have 2-year and 3-year maturities with fixed rates of 7.50% and 7.70% paid semi-annually, while class III has a 4-year maturity with a semi-annually adjusted floating rate set to the weighted average effective yield on 182-day government securities over the prior six months plus a 0.5% fixed margin; subscriptions must be made in “lots” comprising one bond from each class and the primary offer runs for 14 calendar days from launch, with BC “MAIB” SA as intermediary. CNPF also registered the results of additional share issues by SA “BASARABIA-NORD” (MDL 124,530,760; 6,226,538 shares; post-increase share capital MDL 141,005,460) and SA “DRUMURI-RÎȘCANI” (MDL 748,800; 74,880 shares; post-increase share capital MDL 26,752,360) and SA “EDELVAIS” (MDL 514,595; 514,595 shares; post-increase share capital MDL 600,000), and the results of Commercial Bank “MOLDOVA-AGROINDBANK” SA’s fifth bond issuance under its programme (MDL 144,060,000; 7,203 class VI bonds at MDL 20,000 nominal; 3-year maturity) with a floating coupon linked to the weighted average rate on new banking-sector deposits (MDL) with 6–12 month maturities published by the National Bank of Moldova at the start of the offer period on 14.08.2025, plus a 1.0% margin, paid monthly. On conduct supervision, CNPF found OCN “EASY CREDIT” SRL in breach of Law No. 202/2013 on consumer credit contracts and will bring court proceedings seeking annulment of abusive clauses, including missing mandatory terms on the right of withdrawal and provisions combining default interest with fixed penalties and shifting all creditor costs to consumers. The regulator also banned C.S.V. “DEN-SER GRUP” SRL from using ambiguous exchange-rate displays and initiated a thematic control of currency exchange units for 16.09.2025–12.11.2025 focused on compliance with consumer information rules on misleading practices. Separately, it rejected INTACT ASIGURARI GENERALE SA’s preliminary challenge to an earlier decision requiring regularisation of a claim file and full payment of compensation, and reminded minority shareholders in BASARABIA-NORD and EDELVAIS that where a registered issue exceeds 25% of shares in circulation, buyout requests must be submitted within three months of the capital increase being registered with the Public Services Agency.

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