Regulatory Alerts2023-06-13
Regulation on Time Limits and Procedures for Issuing Approvals Regarding Transactions and Register of Guarantees
The National Commission for Financial Markets of Moldova issued Decision No 30/8 to approve a regulation governing prior approval requirements for insurer transactions exceeding specific capital thresholds. The regulation mandates that insurers and reinsurers obtain supervisory consent for equity investments over 15 percent of own capital, loans exceeding 10 percent of share capital, and large transactions, while establishing detailed documentation and procedural standards. It further defines the 30-day approval timeline, grounds for refusal or withdrawal of approvals, and strict obligations for maintaining a register of off-balance sheet guarantees and commitments.
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