The National Commission for Financial Markets adopted a package of capital markets and consumer protection decisions from its 9 and 14 January 2025 meetings, including approving a voluntary takeover offer for CALCAR and concluding that two non-bank credit organisations breached consumer credit rules and used abusive contract terms. On authorisation, it approved the prospectus for MAGISTRALA-NORD SRL’s voluntary takeover offer to purchase 2,369 ordinary registered shares in CALCAR SA at MDL 546.40 per share, with the offer open for 15 days from initiation, and authorised MONSATO SA to reorganise by conversion into a limited liability company. On supervision, reviews prompted by consumer petitions found multiple breaches of Law No. 202/2013 in credit contracts used by OCN AMIGO CREDIT SRL and OCN ZOOM CREDIT SRL, and identified abusive clauses covering repayment, contractual liability and personal data protection (AMIGO CREDIT) and early termination (ZOOM CREDIT). For ZOOM CREDIT, the Commission also found charges exceeding statutory limits, including a loan issuance commission above the cap of 0.04% per day of credit from the total loan value and a breach of Article 15(9); in both cases, it plans to file court actions seeking nullity of the abusive clauses.
National Commission for Financial Markets 2025-01-15
National Commission for Financial Markets approves MAGISTRALA-NORD voluntary takeover offer for CALCAR and readies court actions over abusive credit clauses
The National Commission for Financial Markets approved a voluntary takeover offer for CALCAR SA and authorised MONSATO SA's reorganisation. It identified breaches of consumer credit rules by OCN AMIGO CREDIT SRL and OCN ZOOM CREDIT SRL, including abusive contract terms and charges exceeding statutory limits. The Commission plans to seek court actions to nullify these clauses.