Decision on the Preliminary Application Submitted by OCN CREDIT AUTO SRL Against CNPF Decisions No. 58/6/2025 and No. 1/3/2026

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 February 24, 2026 No. 10/6

Regarding the Preliminary Application, submitted by OCN "CREDIT AUTO" SRL, against the decisions of the National Financial Market Commission No. 58/6/2025 and No. 1/3/2026

On February 5, 2026, within the National Financial Market Commission (CNPF/authority), the Preliminary Application, submitted by OCN "CREDIT AUTO" SRL (professional), was registered (No. 681), requesting the annulment of CNPF Decision No. 58/6 dated February 5, 2025, regarding the summons for execution by OCN "CREDIT AUTO" SRL of the Decision of the National Financial Market Commission No. 24/1 dated May 19, 2025, regarding the petition registered at the National Financial Market Commission with No. 2036 on March 18, 2025, in relation to OCN "CREDIT AUTO" SRL (Decision No. 58/6/2025) and of the Decision of CNPF No. 1/3 dated January 6, 2026, regarding the application of a coercive fine to OCN "CREDIT AUTO" SRL for non-execution of the Decision of the National Financial Market Commission No. 24/1 dated May 19, 2025, regarding the petition registered at the National Financial Market Commission with No. 2036 on March 18, 2025, in relation to OCN "CREDIT AUTO" SRL (Decision No. 1/3/2026).

In this case, on November 13, 2025, via CNPF letter No. 04-5/4454, the professional was informed about the initiation, ex officio, of the administrative procedure, directed at verifying the actions taken by them, in order to execute CNPF Decision No. 24/1 dated May 19, 2025, regarding the petition registered at the National Financial Market Commission with No. 2036 on March 18, 2025, in relation to OCN "CREDIT AUTO" SRL (Decision No. 24/1/2025).

As a result of the investigations conducted by the authority, Decision No. 58/6/2025 was issued, establishing the non-execution of points 3 and 5 of Decision No. 24/1/2025, as well as the violation of the notification deadline to CNPF about the measures taken to execute the Decision.

In this regard, OCN "CREDIT AUTO" SRL was summoned to execute points 3 and point 5 of Decision No. 24/1/2025.

Subsequently, following the non-execution of the obligation established in point 1 of Decision No. 58/6/2025, the professional was subjected, via Decision No. 1/3/2026, to a coercive fine in the amount of 150 conventional units.

Thus, disagreeing with decisions No. 58/6/2025 and No. 1/3/2026, the professional submitted a Preliminary Application.

In law, Article 19 of the Administrative Code provides that "The Preliminary Application is the institution that offers a pre-litigation path for resolving administrative disputes," and Article 162 para. (1) and para. (3) of the same law stipulates that "(1) The preliminary procedure aims to verify the legality of individual administrative acts. [...] (3) The Preliminary Application may be directed towards: a) the annulment in whole or in part of an illegal or null individual administrative act;". In accordance with Article 20 of the Administrative Code, "If an administrative activity violates a legitimate right or freedom established by law, this right may be claimed through an administrative litigation action, [...]", and according to Article 17, "A violated right is any right or freedom established by law to which/which is affected by administrative activity."

Under the conditions of Article 166 of the Administrative Code, "The Preliminary Application may be submitted only if the person claims the rights violated by the issuance or refusal to issue an individual administrative act," and, in concordance with Article 167 para. (1) of the same law, "(1) If considering the preliminary application as admissible and well-founded, the issuing public authority annuls in whole or in part the contested individual administrative act or issues the requested individual administrative act."

Concurrently, Article 167 para. (3) of the Administrative Code establishes a deadline of 15 calendar days for the resolution of the preliminary application by the issuing public authority of the contested act, which may be extended under the conditions of Article 60 para. (4) – (5) of the same law.

In the sense of Article 169 para. (3) of the Administrative Code, the provisions regarding the individual administrative act apply correspondingly, in the order of examining the preliminary application.

Furthermore, it should be noted that, given the participant's right to be heard before the issuance of the decision, under the conditions of Article 94 para. (2) of the Administrative Code, via CNPF letter No. 06-5/456 dated February 16, 2026, OCN "CREDIT AUTO" SRL was informed about the right to be heard, in writing, by presenting arguments on the aspects they consider relevant and which the authority must take into account during the examination of the Preliminary Application.

At the same time, under Article 61 para. (1) of the Administrative Code, according to which "(1) The public authority may establish deadlines for participants in the administrative procedure to perform certain actions," the professional was granted a deadline – until February 20, 2026 – to submit a response, as part of the hearing.

Correspondingly, via the Order of the CNPF President No. 60 dated February 13, 2026 regarding the suspension of the preliminary procedure term, initiated by the Preliminary Application, submitted by OCN "CREDIT AUTO" SRL, against CNPF Decision No. 58/6 dated December 2, 2025 and CNPF Decision No. 1/3 dated January 6, 2026, the preliminary procedure was suspended until the expiration of the term established for the performance of the written hearing.

In this case, it should be noted that, within the established term, no response from the professional arrived at CNPF.

Analyzing the arguments presented by OCN "CREDIT AUTO" SRL in the Preliminary Application regarding the annulment of decisions No. 58/6/2025 and No. 1/3/2026, through the lens of the legal provisions applicable to the case, they are deemed irrelevant,

3 for which reason the Preliminary Application is subject to rejection, as being unfounded, for the following reasons:

1. Regarding the professional's request to annul Decision No. 58/6/2025, it should be specified that, through this, OCN "CREDIT AUTO" SRL was summoned to execute Decision No. 24/1/2025, which represents the principal individual administrative act, under which the unfulfilled obligation of the professional arose. Consequently, Decision No. 58/6/2025 represents a subsequent individual administrative act, and its adoption is a consequence of the non-execution of the principal individual administrative act. According to Article 165 para. (1) of the Administrative Code, "(1) The Preliminary Application is submitted within 30 days from the communication or notification of the individual administrative act or the rejection of the petition. If the public authority does not resolve the application within the term provided by this code, the preliminary application may be submitted within one year from the expiration of the term." In this context, according to the administrative case materials, on December 4, 2025, via CNPF letter No. 04-5/4710, the professional was notified, at the email address [...], of Decision No. 58/6/2025. Taking into account that, under Article 63 of the Administrative Code, the calculation of terms is carried out in accordance with the provisions of Articles 383 – 390 of the Civil Code, it is concluded that the 30-day term provided in Article 165 para. (1) of the Administrative Code begins to run from December 5, 2025 (inclusive) and expires on January 5, 2026 (in the situation where January 3, 2026 is Saturday – a day of rest). Furthermore, OCN "CREDIT AUTO" SRL did not request reinstatement to the appeal term. Correlatively, in the administrative litigation procedure, according to Article 207 para. (2) letter d) of the Administrative Code, an action submitted after the expiration of the term provided in Article 209 of the same Code is declared inadmissible. Correspondingly, in the preliminary procedure, the submission of a preliminary application, with non-compliance with the legal term provided for this purpose, should be treated in similar conditions and must bear the same legal consequences, namely to be rejected, as inadmissible.

2. Regarding the arguments concerning the impossibility of executing Decision No. 24/1/2025, it should be mentioned that, under legal norms, contesting an individual administrative act in court does not, de jure, suspend its execution. In this sense, according to Article 23 para. (3) and para. (4) of Law 192/1998 on the National Financial Market Commission, "(3) The suspension of the execution of acts of the National Commission, other than those provided in para. (11), may be ordered by the National Commission, at the request of the recipient of the individual administrative act or of a third party whose rights are affected by the individual administrative act, submitted within the preliminary procedure, or by the court only at the request of the plaintiff, submitted simultaneously with the filing of the action, and only if the following conditions are cumulatively met: […] (4) The burden of proof for meeting the conditions mentioned in para. (3) lies with the plaintiff. Until proof to the contrary, the existence of a public interest in the immediate and uninterrupted execution of the acts of the National Commission is presumed." Complementary, Article 171 para. (4) and para. (5) of the Administrative Code establishes that "(4) Individual administrative acts are enforceable from the moment their obligatoriness occurs, except when their execution is suspended by the decision of the public authority or by a judicial disposition act. (5) In cases established by law, the suspension of the execution of the individual administrative act occurs through the submission of a preliminary application or legal action contesting the individual administrative act." Given that OCN "CREDIT AUTO" SRL, within the preliminary procedure and in court, did not request the suspension of the execution of Decision No. 24/1/2025, it is concluded that the obligatoriness occurred at the moment of its communication. Therefore, the professional was required to unconditionally execute the obligations arising from Decision No. 24/1/2025.

3. Regarding the arguments concerning the violation of the principle of proportionality in the application of the coercive fine, it should be noted that, in determining the application of the coercive fine, the authority was guided by the provisions of Article 29 para. (3) and Article 174 para. (1) of the Administrative Code. In this context, it should be noted that the coercive fine in the amount of 150 conventional units, equivalent to 7,500 MDL, aims to emphasize the enforceable nature of the obligation instituted by the individual administrative act, satisfying this criterion, in the context where the rights of the financial service consumer were harmed by the non-execution of Decision No. 24/1/2025. Furthermore, the coercive measure in question is appropriate for achieving the goal and is necessary in relation to it, as it aims to execute an obligation established by law, and this method of executing individual administrative acts has a legal basis.

From the considerations recorded above, under the authority of Article 18 para. (3), Article 20 para. (1), para. (6) and para. (7), Article 22 para. (3), Article 25 para. (2) of Law No. 192/1998 on the National Financial Market Commission, Article 164 para. (1) and para. (2) letter a), Article 167 para. (3), Article 169 para. (2) and para. (3) of the Administrative Code, points 16 and point 19 of the Regulation on the organization and functioning of the National Financial Market Commission (CNPF Decision No. 57/11/2022),

The National Financial Market Commission DECIDES:

1. The Preliminary Application, submitted by OCN "CREDIT AUTO" SRL, requesting the annulment of CNPF decisions No. 58/6/2025 and No. 1/3/2026 (registered at CNPF with No. 681 dated February 5, 2026), is rejected.

2. This Decision may be contested with an administrative litigation action, submitted to the Chisinau Court, Rascani branch (MD-2068, Chisinau, Kiev 3 St.), within 30 days from the date of communication of the CNPF decision regarding the preliminary application.

3. This Decision enters into force on the date of adoption and is communicated to the recipient in accordance with the legislation.

Vladimir RUSNAC, VICE-PRESIDENT