Regulatory Alerts2023-05-02
Regulation on qualifying holdings in the share capital of insurance or reinsurance undertakings
The National Commission for Financial Markets of Moldova issued Decision No 22/3 to approve regulations governing the prior approval process for acquiring qualifying holdings in insurance or reinsurance undertakings. The regulation establishes detailed criteria for assessing the financial soundness and integrity of proposed acquirers, including definitions of concerted action and affiliated persons, while mandating strict documentation and transparency requirements. It outlines specific procedural timelines for application submission and supervisory assessment, ensuring that only compliant entities can exercise control over the sector's capital structure.
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