“The National Commission for Financial Markets is an independent body of central public administration reporting to the Parliament, which regulates and authorizes the activity of professional participants on non-banking financial market and supervises observance of legislation by them…”
Article 1, Law on The National Commission of Financial Market Nr. 192-XIV from November 12, 1998 (in the edition of the Law Nr.129-XVI from June 7, 2007)
The National Commission for Financial Markets is the successor of rights and liabilities of the National Securities Commission, State Inspection for Insurance and Non-state Pension Funds supervision and State Supervisory Service of Savings and Loan Associations under the Ministry of Finance of the Republic of Moldova.
The core objectives of the National Commission for Financial Markets are: enhancing stability, transparency, security and efficiency of the non-banking financial sector, by adoption and maintenance of an adequate regulatory and supervisory framework of the participants on the financial market, to reduce systemic risks and to prevent disloyal, abusive and fraudulent practices in the financial sector with the scope of protecting the interests of clients and investors.
The authority of the National Commission refers to: the issuers of securities, investors, the participants on the non-banking financial market, defined by the legislation on securities market, insurance companies, insurance brokers, non-state pension funds, micro-financing organizations, savings and loan associations, mortgage credit organizations and credit history bureaus.