Order No. 10/5 of 24 February 2026 regarding the Preliminary Application submitted by Mr. [...]

REPUBLIC OF MOLDOVA
NATIONAL FINANCIAL MARKET COMMISSION bd. Ștefan cel Mare și Sfânt, no. 77, Chișinău, MD 2012, tel: (373 22) 859 401, www.cnpf.md, e-mail: office@cnpf.md ORDER 24 February 2026 No. 10/5 Regarding the Preliminary Application submitted by Mr. [...]

On 14 January 2026, within the National Financial Market Commission (CNPF), the Preliminary Application submitted by Mr. [...] (the petitioner) was registered (No. 170), against CNPF Letter No. 05-5/4949 dated 23 December 2025, in which the following were requested:
"1. Re-examination of the decision issued in case No. 8588; 2. Cancellation or modification of the contested decision, as applicable; 3. Examination and utilization of the attached evidence; 4. Communication of a reasoned written response within the time limit provided by law."
(Preliminary Application).

In this matter, it should be noted that, in order to ensure a comprehensive, objective, and transparent investigation that offers the real possibility of analyzing the petitioner's claims, the petitioner is hereby informed that the examination of the factual and legal circumstances relevant to the case, in preliminary order, is carried out by distinguished officials within the CNPF.

In fact, on 28 November 2025, within the CNPF, the petition of Mr. [...] (No. 8588), with the documents attached thereto, regarding certain irregularities in the actions of SAR "MOLDCARGO" SA (insurer) concerning the failure to respect the legal deadline for paying insurance compensation, related to Damage Case No. [...], was registered.

As a result of the investigations conducted and the analysis of the materials/evidence presented by the participants, the CNPF, through Letter No. 05-5/4949 dated 23 December 2025, concluded the administrative procedure initiated on the basis of Mr. [...]'s petition.

Being dissatisfied with the CNPF's solution, the petitioner filed 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, paragraphs (1) and (3) of the same law stipulate that "(1) The preliminary procedure aims to verify the legality of individual administrative acts. [...] (3) The Preliminary Application may be directed towards: […] b) the issuance of an individual administrative act."

In accordance with Article 20 of the Administrative Code, "If an administrative activity infringes a legitimate right or a freedom established by law, this right may be claimed through an administrative litigation action, [...]", and according to Article 17, "A damaged right is any right or freedom established by law to which an infringement is caused by administrative activity."

Under the conditions of Article 166 of the Administrative Code, "The Preliminary Application may only be filed if the person claims the rights infringed by the issuance or rejection of the issuance of an individual administrative act," and, in conformity with Article 167, paragraph (1) of the same law, "(1) If it considers the preliminary application to be admissible and well-founded, the issuing public authority cancels the contested individual administrative act in whole or in part or issues the requested individual administrative act."

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

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

Thus, from a procedural aspect, through the Order of the President of the CNPF No. 21 dated 22 January 2026 regarding the ex officio attraction of CA "MOLDCARGO" SA into the preliminary procedure initiated by the Preliminary Application submitted by Mr. [...], and the suspension of the preliminary procedure, SAR "MOLDCARGO" SA was attracted into the preliminary procedure, being requested, through CNPF Letter No. 06-5/187 dated 22 January 2026, to present the necessary explanations, as well as copies of the relevant documents.

Furthermore, the preliminary procedure was suspended for a term of 7 days, in this case, until 29 January 2026 inclusive.

As a result, on 29 January 2026, SAR "MOLDCARGO" SA presented the explanations and documents requested (documents registered at the CNPF with No. 529).

At the same time, 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, paragraph (2) of the Administrative Code, through CNPF Letter No. 06-5/454 dated 16 February 2026, SAR "MOLDCARGO" SA was informed of the right to be heard in writing, by expressing its views on the aspects it considers relevant and which the authority must take into account during the examination of the Preliminary Application.

At the same time, on the basis of Article 61, paragraph (1) of the Administrative Code, according to which "(1) The public authority may establish time limits for participants in the administrative procedure to perform certain actions," a time limit was granted to it – until 20 February 2026 – to present a response, as a hearing.

Correspondingly, through the Order of the President of the CNPF No. 61 dated 13 February 2026 regarding the suspension of the preliminary procedure initiated by the Preliminary Application submitted by Mr. [...], the preliminary procedure was suspended until the expiration of the time limit established for the performance of the written hearing.

With reference to the term of the preliminary procedure, it should be noted that, given the complexity of the subject matter and taking into account the imperative of conducting complete investigations, through the Order of the President of the CNPF No. 44 dated 04 February 2026 regarding the extension of the term of the preliminary procedure initiated by the Preliminary Application submitted by Mr. [...], the term of the preliminary procedure was extended by 15 days, by applying Article 60, paragraph (4) of the Administrative Code.

On the subject, it should be noted that, within the established term, no response was received from SAR "MOLDCARGO" SA addressed to the CNPF.

Analyzing the arguments presented by the petitioner in the Preliminary Application regarding the cancellation of CNPF Letter No. 05-5/4949 dated 23 December 2025 and the sanctioning of SAR "MOLDCARGO" SA, in light of the legal provisions, their pertinence is appreciated, which is why the Preliminary Application is to be admitted, for the following reasons.

According to the materials of the administrative file, on 26 August 2025, Mr. [...] filed a claim for compensation, due to the deterioration of the Skoda Octavia vehicle, reg. no. [...], resulting from the road accident that occurred on 26 May 2025.

Subsequently, by Order dated 09 September 2025, the insurer approved the insurance compensation in the amount of 25,061 MDL.

Additionally, on 19 September 2025, SAR "MOLDCARGO" SA asserts that the petitioner provided the bank details.

According to Article 29, paragraph (1) of Law No. 106/2022 on mandatory civil liability insurance for damage caused by vehicles, "(1) The compulsory third-party liability (RCA) insurer is obliged to pay insurance compensation within a maximum of 10 working days from the date of issuance of the decision regarding the resolution of the compensation claim and to accept the injured person's request regarding the method of payment of insurance compensation, which may be: [...]".

Therefore, the insurer was supposed to pay the insurance compensation within 10 working days from the date of issuance of the decision regarding the resolution of the compensation claim, in this case, by 23 September 2025.

Thus, the insurer's interpretation regarding the fact that the deadline for paying insurance compensation is calculated from the moment of presentation of the bank details cannot be accepted.

In this context, contrary to legal provisions, SAR "MOLDCARGO" SA made the transfer on 29 September 2025, a fact confirmed by Payment Order No. [...] dated 29 September 2025.

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

The National Financial Market Commission DECIDES:

1. The Preliminary Application submitted by Mr. [...] against CNPF Letter No. 05-5/4949 dated 23 December 2025 (registered at the CNPF with No. 170 on 14 January 2026) is admitted.

2. The Legal Department will ensure the initiation of corresponding procedures, in accordance with the powers provided by the Code of Contraventions.

3. This Order may be contested with an administrative litigation action, filed with the Chișinău Court, Râșcani seat (MD-2068, Chișinău, Kiev St. 3), within 30 days from the date of communication of the CNPF decision regarding the preliminary application.

4. This Order enters into force on the date of adoption and is communicated to the recipients in accordance with the legislation.

Vladimir RUSNAC,
VICE-PRESIDENT