Moldova's National Commission for Financial Markets urges shareholders to update personal data in shareholder registers

Moldova's National Commission for Financial Markets published a notice calling on shareholders in joint-stock companies to check and, where needed, update the personal information recorded in the shareholder register maintained by registrar companies or the Single Central Securities Depository (DCU). The Commission highlighted that shareholders should verify register data especially after changes to identification details such as name, address or contact information. It warned that outdated details can result in shareholders not being notified of general meetings, not receiving information in time on dividends and other shareholder rights (including mandatory withdrawal and voluntary takeover procedures), and potentially losing money, as dividends not collected within three years from the date of disclosure are transferred to the company and can no longer be claimed. The notice also underlined that shareholders are responsible for reporting changes, that joint-stock companies are not liable if shareholder data is not updated, and that notifications sent to an old address are considered valid even if not received. To update information, shareholders should contact the registrar company or the DCU that maintains the relevant issuer’s shareholder register; the Commission pointed shareholders to lists identifying which entity maintains each issuer’s register.