Regulatory Alerts2026-04-17
Added · Updated
Decisions of the Board of Directors of the National Financial Market Commission – 14 April 2026
The Board of Directors of the National Financial Market Commission (CNPF) adopted decisions on 14 April 2026 amending fee collection rules to align with Law No. 189/2025 and enforcing compliance after BC “OTP Bank” SA violated consumer credit regulations by omitting pre-contractual information and embedding abusive clauses. The regulatory amendment updates fee calculation mechanisms, extends applicability to savings and loan associations, and mandates clearer penalty and banking day definitions to improve market transparency without increasing costs. Concurrently, the CNPF will file court action to nullify the identified restrictive contract terms and advance a new consumer credit framework alongside specialized training on crypto-asset supervision.
During the meeting on 14 April 2026, the Board of Directors of the National Financial Market Commission (CNPF) adopted a series of decisions concerning consumer protection and the capital market, inter alia:
I. Regulation:
Amendment to the Instruction on fees and payments collected by the CNPF, to align it with the provisions of Law No. 189/2025 and adjustments made to the relevant legal framework. The amendments aim to update the fee and payment calculation mechanism, including revising how payments due from insurance intermediaries are determined, extending the Instruction's application to savings and loan associations, and adjusting annexes to ensure uniform application. The interventions aim to enhance transparency, predictability, and financial discipline without generating additional costs, contributing to the clear and coherent application of payment obligations by participants in the non-banking financial market. The draft amendment to the Instruction enters into force on the date of adoption and will be published in the Official Monitor of the Republic of Moldova.
I. Supervision:
Following the examination of a petition, the CNPF verified compliance with the legal framework regarding loan agreements and guarantee contracts concluded with BC “OTP Bank” SA and found violations of Law No. 202/2013 on consumer credit contracts. In particular, the creditor failed to provide standard pre-contractual information and included non-compliant clauses regarding early repayment, including the unjustified imposition of prior notice and the improper use of certain costs. Additionally, abusive clauses limiting consumers' rights were identified, and some provisions, such as those regarding penalties or the concept of a “banking day,” are not formulated clearly and intelligibly. Abusive clauses were also found in guarantee contracts, which excessively restrict the rights of guarantors. The Authority will file a court action to establish the nullity of the abusive clauses.
New law for consumer credits: CNPF proposes a more transparent and fair framework for consumers