Foreign securities may be admitted for trading on the regulated market of the Republic of Moldova. MPs voted in the second reading the draft amendment to the Law on capital market on November 24.
Thus, only the securities on which prohibitions are not set to trading by the operator of a foreign regulated market or by the normative acts of the Republic of Moldova will be accepted. Foreign securities cannot be admitted if they are issued by issuers that have been active for less than three years or have not made a profit in the last two years. Those held by individuals in high-risk jurisdictions will also not be admitted.
The law on the capital market also provides that the National Financial Market Commission will be able to withdraw the license if the licensed person seriously violates the legal provisions, in case of reorganization or liquidation, in case of declaration of insolvency, when the license was withdrawn to the BNM or at the request of the licensed person.
The amendments will enter into force at the expiration of six months from the publication in the Official Journal of the Republic of Moldova. (Moldpres/Business World Magazine)
