Decision on Approving the Regulation on the Management and Resolution of Complaints

REPUBLIC OF MOLDOVA NATIONAL FINANCIAL MARKET COMMISSION 77 Stefan cel Mare si Sfant Blvd., Chisinau, MD 2012, tel: (373 22) 859 401, www.cnpf.md, e-mail: office@cnpf.md DECISION May 26, 2026 No. 25/6 On Approving the Regulation on the Management and Resolution of Complaints

Pursuant to Article 82(5) of Law No. 192/1998 on the National Financial Market Commission (republished in the Official Monitor of the Republic of Moldova, 2007, No. 117–126 BIS),

The National Financial Market Commission DECIDES:

1. The Regulation on the Management and Resolution of Complaints (attached) is approved.
2. Decision No. 38/14/2012 of the National Financial Market Commission on Approving the Regulation on the Procedure for Examining Petitions by Professional Participants in the Non-Banking Financial Market (Official Monitor of the Republic of Moldova, 2012, No. 248–251, Art. 1491) is repealed.
3. This Decision enters into force on October 1, 2026, is published in the Official Monitor of the Republic of Moldova and on the official website of the NFMC (www.cnpf.md).

Dumitru BUDIANSCHI, PRESIDENT

1 Approved by Decision of the National Financial Market Commission No. 25/6 of 26.05.2026 REGULATION on the Management and Resolution of Complaints

Chapter I GENERAL PROVISIONS

1. The Regulation on the Management and Resolution of Complaints (hereinafter – Regulation) establishes minimum requirements for the management and resolution by the subjects referred to in Article 4(11) and (21) of Law No. 192/1998 on the National Financial Market Commission (hereinafter – Law No. 192/1998) of complaints received from: 1.1. consumers, within the meaning of Article 1 of Law No. 105/2003 on Consumer Protection; 1.2. clients or potential clients of persons licensed or authorized to conduct activities on the capital market, whether natural or legal persons; 1.3. insured persons or damaged persons, whether natural or legal persons, who claim or are entitled to compensation, according to Law No. 106/2022 on Mandatory Civil Liability Insurance for Damage Caused by Vehicles; 1.4. users of payment services and holders of electronic money, whether natural or legal persons; 1.5. clients of participatory financing service providers, whether natural or legal persons; 1.6. participants in voluntary pension funds, as well as employers contributing to a voluntary pension fund; 1.7. investors in collective investment schemes in securities or alternative collective investment schemes, whether natural or legal persons.

2. Financial service providers may apply the provisions of this Regulation also in relation to other categories of complaints than those provided for in point 1.

3. For the purposes of this Regulation, the following terms mean: 3.1. financial service provider (hereinafter – provider) – a subject of relations concerning regulation, supervision and control in the field of protection of consumers referred to in Article 4(11) and (21) of Law No. 192/1998; 3.2. complainant – a person who submits a complaint and falls into one of the categories provided for in subpoints 1.1 – 1.7; 3.3. complaint – a statement of dissatisfaction addressed by the complainant to a provider regarding its activity, product or service offered, except for claims for compensation in insurance matters; 3.4. complaint resolved favorably – a complaint fully admitted by the provider by taking the necessary measures to remedy the reported situation; 3.5. complaint partially resolved favorably – a complaint partially admitted by the provider by taking the necessary measures to remedy the situation corresponding to the accepted claims; 3.6. complaint resolved unfavorably – a complaint fully rejected by the provider; 3.7. late-resolved complaint – a complaint for which the provider issued a final response after the expiration of the legal deadline for resolution; 3.8. unresolved complaint – a complaint regarding which the provider has not issued a final response and which is under examination, exceeding the legal deadline; 3.9. archived complaint – a complaint registered by the provider that cannot be examined on the merits and is closed without resolution, due to lack of necessary data or because it concerns another provider than the one referred to in subpoint 3.10; 3.10. redirected complaint – a complaint registered by the provider, regarding which it is found that it falls under the competence of another provider with whom it has a business relationship linked to the service or product that is the subject of the complaint, and is transmitted to the latter for examination and resolution.

4. The provider is obliged to resolve complaints received from complainants promptly, fairly and transparently, respecting the principles of legality, equity and protection of consumers' interests.

Chapter II INTERNAL ORGANIZATION OF COMPLAINT MANAGEMENT AND RESOLUTION PROCESSES

Section 1 Structure and Responsibilities of the Internal Function for Complaint Management and Resolution

5. The provider establishes an internal function for complaint management and resolution (hereinafter – internal function), appropriate to the nature, volume and complexity of the activities carried out.

6. The internal function may be exercised by one or more persons, organized, as appropriate, into a subdivision of the provider.

7. The internal function has the following duties: 7.1. registration of complaints in the Complaint Register (hereinafter – Register); 7.2. communication with the complainant during the complaint resolution process; 7.3. impartial examination of the complaint; 7.4. collection of evidence and investigation of circumstances related to the reported case; 7.5. formulation of a proposal for complaint resolution; 7.6. performance of other tasks provided for in the internal procedures for complaint management and resolution, approved by the provider.

8. The provider ensures training of persons responsible for exercising the internal function, proportional to the size and complexity of the activity, as follows: 8.1. for providers with up to 9 employees – whenever necessary, including in the event of changes in the applicable regulatory framework, internal procedures or identified risks; 8.2. for providers with 10 or more employees – periodically, at least once every two years, as well as whenever necessary, including in the event of changes in the regulatory framework, internal procedures or identified risks.

9. The executive body of the provider, as well as the person(s) responsible for exercising the internal function, ensure compliance with and implementation of this Regulation and the internal procedures for complaint management and resolution.

Section 2 Complaint Register

10. The provider establishes and manages the Register which ensures the integrity of the data entered and does not allow modification or deletion of already registered information. The Register records, chronologically and in order of receipt, all complaints received, regardless of the method of transmission/receipt or the head office/branch where they were submitted.

11. Entries in the Register must be visible and clear.

12. The Register includes the following information: 12.1. the serial number of the complaint; 12.2. the registration number (index) of the complaint, if applicable; 12.3. the date of registration of the complaint; 12.4. the name and surname or denomination of the complainant, if applicable; 12.5. contact details of the complainant (address, telephone number, email address and other contact details); 12.6. the financial service or activity to which the complaint relates; 12.7. the subject of the complaint; 12.8. the date of resolution of the complaint and the manner of its resolution; 12.9. the damage invoked by the complainant, if applicable; 12.10. other relevant remarks, if applicable.

13. The provider keeps the Register, complaints, responses to them and documents relevant to the reported case for a period of at least 3 years from the date of resolution of the complaint.

Section 3 Internal Procedures for Complaint Management and Resolution

14. The provider approves internal procedures for the management and resolution of complaints received from complainants.

15. Internal procedures for complaint management and resolution must comply with the provisions of this Regulation, as well as with normative acts regulating the activity of the provider, and must provide for the following aspects: 15.1. designation of the person(s) responsible, including those who substitute them in their absence, or of the subdivision exercising the internal function; 15.2. the procedure for receiving and registering complaints, including the manner of managing them if received by branches, agencies, secondary offices or other contact points of the provider; 15.3. the manner of communication with the complainant during the complaint resolution procedure; 15.4. the internal procedure for examining and resolving complaints, including resolution deadlines; 15.5. the manner of managing the Register; 15.6. monitoring of complaint examination and resolution procedures, including the procedure for reporting to the provider's management and key persons, as well as the procedure for periodic reporting of information regarding managed complaints to the National Financial Market Commission (hereinafter – Commission).

16. Internal procedures for complaint management and resolution are made available to persons who interact directly with clients.

Section 4 Provision of Information to the Complainant

17. The provider displays, in a visible place, at its head office, in branches, at secondary offices, at agencies, including at contact points intended for consumers, as well as on its official website, the following categories of information: 17.1. the procedure for submitting a complaint and resolution deadlines; 17.2. contact details of the person(s) or subdivision responsible for exercising the internal function, or of a single contact point intended for consumers, if such has been established by the provider; 17.3. the complainant's right to address the Commission, if applicable, an alternative dispute resolution entity (hereinafter – ADR entity), indicating the contact details of the competent authority or the ADR entity.

18. At the complainant's request, the provider makes the information provided for in point 17 available to them on a durable medium within 1 working day from the date of the request.

Section 5 Submission of Complaint

19. The complaint is submitted in writing to the provider by any of the following methods: 19.1. at the provider's head office, at a branch, at a secondary office, at an agency or at a contact point thereof; 19.2. through the post office or courier; 19.3. to the email address; 19.4. by other electronic means established by the provider and brought to the attention of complainants, which allow transmission and confirmation of receipt of the complaint.

20. The provider confirms to the complainant the receipt of the complaint within a period not exceeding 5 working days from the date of its receipt.

21. Receipt confirmation is considered achieved: 21.1. by issuing proof at the time of submission of the complaint, for complaints submitted at the head office, at a branch, at a secondary office, at an agency or at a contact point of the provider; 21.2. by notification transmitted to the complainant, for other cases. Communication by electronic means takes priority if the provider knows the complainant's email address or telephone number; 21.3. by automatic generation of proof, transmitted on a durable medium to the complainant, in the case of complaints transmitted via electronic means; 21.4. by verbal confirmation, at the time of registration of the complaint, in the case of complaints submitted by telephone, communicating to the complainant a reference number or other element allowing identification of the complaint. In the cases provided for in subpoints 21.3 and 21.4, confirmation may also be transmitted by electronic means, using contact details communicated by the complainant or known to the provider. The provider may not transmit confirmation of receipt of the complaint if it is to be resolved within a period of up to 5 working days from the date of receipt of the complaint.

22. In the event that the complaint is submitted at a branch, at a secondary office, at an agency or at a contact point of the provider, it is considered that the complaint was submitted on the date of its receipt by the respective entity. In this case, the complaint is forwarded, within 1 working day from the date of receipt, to the person(s) or subdivision responsible for exercising the internal function. In the case of complaints submitted to a brokerage assistant, a credit intermediary who has credit intermediation as a secondary activity, or a payment agent, they redirect the complaint to the insurance broker in whose name they operate, respectively to the creditor for whom they carry out credit intermediation or to the payment service provider, as appropriate, within 2 working days from the date of receipt.

23. In the event that claims are formulated verbally (on the spot, by telephone or during hearings), the provider offers the complainant the possibility of submitting the complaint in writing, and informs them about the right and procedure for submitting complaints. The complainant's refusal to formulate the complaint in writing or in forms other than the written one mentioned in point 25, or the submission of anonymous complaints, does not exempt the provider from the obligation to investigate the reported situation, but it has no obligation to issue a response.

24. The provider has the right not to issue a response to the complainant in the case of complaints containing unseemly or offensive language, threats to the security, life and health of staff, as well as their family members. This fact does not exempt the provider from the obligations to report complaints to the Commission, as well as from the obligation to investigate the reported situation.

25. By way of derogation from point 19, the provider may provide for internal procedures for submitting complaints in a form other than written, as well as by any means, provided that their documentation and traceability are ensured.

26. A provider using automated means or information technology-based tools in communicating or processing complaints shall ensure the complainant's right to request the intervention of the provider's staff and to benefit from it without unjustified delay. In this case, the provider is obliged to explicitly inform the complainant, from the beginning of the interaction with the automated tool, about their right to request the intervention of its staff.

27. The provider may establish in the internal complaint management procedure the mandatory elements that the complainant must include, provided that they do not exceed the following elements: 27.1. the name and surname or denomination of the complainant; 27.2. telephone number, postal address, email address or other information allowing communication with the complainant; 27.3. description of the facts and circumstances that are the subject of the complaint; 27.4. the complainant's requests regarding the remediation of the situation, if applicable; 27.5. the signature of the complainant or their legal or authorized representative, and in the case of a complaint transmitted in electronic form – a qualified electronic signature, in accordance with Law No. 124/2022 on Electronic Identification and Trust Services (hereinafter – Law No. 124/2022). In the case of submission of the complaint by a representative, the complaint must be accompanied by the document confirming their authorization to act on behalf and in the interests of the complainant. 27.6. By way of derogation from subpoint 27.5, the provider may provide in the internal complaint management procedures that the complainant's signature is not required under the conditions of using electronic means.

28. In the event that a complaint is signed by several natural or legal persons, the person to whom the response is to be sent is indicated. In the absence of such a mention, the response is transmitted to all signatories, to the extent that the necessary communication data have been indicated and there are no legal restrictions on the disclosure of information.

29. In the event of receipt of complaints whose text cannot be deciphered or which do not contain sufficient data for their examination, the complainant is informed about this fact, and is asked to specify the issues addressed, within 3 working days from receipt thereof.

30. The complainant may attach to the complaint any documents or information that they consider relevant in support of the claims made. The provider may request completion or clarification of documents/attachments if they do not contain the respective information necessary for the resolution of the complaint.

31. Submission of a complaint under the conditions of this Regulation does not affect the complainant's right to address, with the same claims, competent authorities, the court or to resort to other methods of defense/remediation of their rights, including addressing ADR entities.

32. The provider has no right to charge fees or any other type of payment from the complainant for the submission or examination of the complaint, except in cases provided for by Law No. 114/2012 on Payment Services and Electronic Money (hereinafter – Law No. 114/2012).

Section 6 Examination of the Complaint

33. The provider examines the complaint without unjustified delays and communicates a final response to the complainant within 15 working days from the date of its registration. That period may be extended only if expressly provided for by law.

34. If the complaint concerns the activity of another provider, with whom the notified provider has a contractual relationship related to the service that is the subject of the complaint, the notified provider redirects the complaint to the competent provider within 5 working days from receipt, and informs the complainant about the redirection.

35. In the event that the complaint was submitted erroneously, does not concern the activity of the provider or does not relate to a financial product or service, the provider communicates to the complainant the reasons why the complaint cannot be resolved. At the same time, if possible, the provider provides the complainant with information about the competent professional for resolving the complaint.

36. In the case of complaints related to payment services and electronic money issuance activity, the provisions of Article 104(3) of Law No. 114/2012 apply. Thus, in exceptional situations, if the response cannot be provided within 15 working days from the date of receipt of the complaint, for reasons independent of the will of the payment service provider or the electronic money issuer, the provider transmits a provisional response. The deadline for receiving the final response cannot exceed 35 working days from the date of receipt of the complaint.

37. At the complainant's request, the provider informs them about the stage of examination of the complaint, including about actions taken up to that moment, and, if applicable, about the proposed manner of resolution.

38. The final response regarding the complaint is based on the analysis of all evidence and relevant information regarding the complaint and is drafted in clear language. It includes the following information: 38.1. the registration number of the complaint; 38.2. the identification data of the complainant; 38.3. a brief description of the circumstances, claims and requests of the complainant; 38.4. in the case of partial favorable or unfavorable resolution of the complainant's claims: 38.4.1. the reasons that determined such a solution, explained clearly; 38.4.2. the complainant's right to address the Commission, the court or an ADR entity; 38.5. in the case of favorable resolution, depending on the situation: 38.5.1. the measures that have been taken to remedy the reported situation; 38.5.2. the measures that are to be taken to remedy the reported situation and the deadline for their fulfillment; 38.6. in the case of a proposal for amicable settlement, with the aim of preventing a dispute: 38.6.1. the essential clauses of the transaction, explained clearly; 38.6.2. the deadline by which the complainant must communicate acceptance or refusal and the actions they must take.

39. The complaint is considered resolved favorably if the provider fully admits the complainant's claims and takes the necessary measures to remedy the reported situation, with appropriate notification to the complainant. The complaint is considered resolved favorably: 39.1. by agreement of the parties, on the date of conclusion of an amicable settlement. The amicable settlement is recorded in writing or by any other means that allows proof of the express manifestation of will of the parties; 39.2. by unilateral legal act, issued by the provider, in which it communicates the adopted solution and the measures taken to remedy the reported situation, with notification to the complainant.

40. The final response is signed manually or by applying a qualified electronic signature in accordance with Law No. 124/2022, by the executive body of the provider or by any other person authorized to act in this sense on behalf of the provider. By way of derogation, the provider may provide, in the internal procedures for complaint management and resolution, transmission to the complainant of the final response by electronic means, without applying a qualified electronic signature, provided that the transmission is made on a durable medium. In this case, this method of transmission is brought to the attention of complainants according to point 17.

41. The final response to the complainant is communicated by the same means of communication used for transmitting the complaint, if the complainant has not indicated another mode of communication. In the case of communication via postal services, the response is transmitted by registered mail with acknowledgment of receipt. The provider must be able to present proof of transmission of the final response.

42. The provider may communicate by telephone the final response to the resolved complaint, within 5 working days from the date of its receipt, with the consent of the complainant, provided that the recording of the conversation is kept, under the conditions...