.PNG)
The vice-chairman of the National Commission for Financial Markets (NCFM), Adrian Gheorghita, had a meeting with the director of the USAID Moldova Financial Sector Transparency Activity (FSTA), Matthew Macellaro on Tuesday, March 14. The topics on the agenda covered the activities carried out so far within the partnership, but also the future cooperation.
Thus, during the meeting, the collaboration prospects regarding the development of the secondary legal framework were discussed in the context of the upcoming approval, by the Parliament, of the amendments to Law no. 308/2017 on preventing and combating money laundering and terrorist financing (AML/CFT).
Also, the sides discussed the possibility of jointly organizing some training activities for the capital market players, as a result of the strategic priorities of NCFM to strengthen this market segment and increase its attractiveness to investors.
At the end of the discussions, Adrian Gheorghiță pointed out that NCFM continues to count on the USAID FSTA Project’s support in developing institutional capacities, in particular, in the context of the powers transfer and setting the authority's future mandate.
In this turn, Matthew Macellaro expressed the Project’s willingness to support the agreed activities, stressing, in this sense, the importance of implementing international best practices and standards as a precondition for the development and modernization of the Moldovan financial market.
Note: To date, the NCFM has organized a series of activities with the support of the USAID FSTA Project, in order to enhance the institutional capacities of the Moldovan non-banking financial system. Previously, as part of the project, insurance companies benefited from training in the field of prudential supervision and risk management, and the Instruction for preparing the ORSA (Own Risk and Solvency Assessment) Report was also developed. At the same time, the USAID FSTA Project supported the organization of an AML/CFT training program devoted to insurers and non-bank lending organizations. The Project's assistance also included trainings in the field of institutional communication, and the development of the Commission's communication strategy was also supported. Also, on March 20-22 and March 27-28, 2023, actuaries, CFOs, as well as risk managers from insurance companies will participate in the training program "Preparation for the implementation of the Solvency II regime and IFRS 17 principles", organized by the NCFM in cooperation with USAID FSTA Project and the Actuarial Association of Moldova (AAM).
