ORDER OF THE GOVERNMENT OF THE REPUBLIC OF MOLDOVA

of May 18, 2022 No. 329

About approval of Regulations of the information resource created by the Information system "The Program of Direct Sale of Government Securities to Physical Persons in the Republic of Moldova" and modification of the Order of the Government

According to Item d) article 22 of the Law No. 467/2003 on informatization and the state information resources (The official monitor of the Republic of Moldova, 2004, Art. No. 6-12, 44), with subsequent changes, DECIDES: the Government

1. Approve Regulations of the information resource created by the Information system "The Program of Direct Sale of Government Securities to Physical Persons in the Republic of Moldova" it (is applied).

2. To provide to the Ministry of Finance as the owner of the Information system "The Program of Direct Sale of Government Securities to Physical Persons in the Republic of Moldova" implementation of this system.

3. To enable the realization of this resolution by the financial means provided by the Ministry of Finance in the law on the government budget for the corresponding year according to provisions of the Law No. 181/2014 on public finance and budget and tax responsibility, for centralized financing of ensuring services in technical administration and development of the Information system "The Program of Direct Sale of Government Securities to Physical Persons in the Republic of Moldova", and also from other financial sources according to the legislation.

4. In Chapter III of the Concept of the Information system "The Program of Direct Sale of Government Securities to Physical Persons in the Republic of Moldova" approved by the Order of the Government No. 69/2022 (The official monitor of the Republic of Moldova, 2022, Art. No. 45-52, 108), words "The technical contractor" shall be replaced with words "The technical administrator".

Countersigns: Minister of Finance

To Dumitr Budiyanski

Approved by the Order of the Government of the Republic of Moldova of May 18, 2022, No. 329

Regulations of the information resource created by the Information system "The Program of Direct Sale of Government Securities to Physical Persons in the Republic of Moldova"

Chapter I General provisions

1. The regulations of the information resource created by the Information system "The Program of Direct Sale of Government Securities to Physical Persons in the Republic of Moldova" (further - Regulations), are developed for the purpose of regulation of the information resource created by the Information system "The Program of Direct Sale of Government Securities of Physical Persons in the Republic of Moldova" (further - electronic platform).

2. The electronic platform includes all data on direct purchase of government securities and their sale before repayment by retail investors to primary dealers or the Ministry of Finance.

Chapter II Subjects of legal relationship in the field of creation, operation and use of electronic platform

3. Subjects in the field of creation, operation and use of electronic platform are:

1) owner;

2) owner and registrar;

3) holder;

4) technical administrator;

5) users.

4. Owner of electronic platform is the state. Financial resources on development, content and operation of electronic platform are provided from the government budget and other financial sources according to the legislation.

5. The electronic platform can have the trade name.

6. The owner and the registrar of electronic platform is the Ministry of Finance which performs the following powers:

1) provides legal, organizational and financial conditions for creation and functioning of electronic platform;

2) is provided by constant development of electronic platform;

Registers 3), updates and deletes data on electronic platform.

7. Holder of electronic platform is Public institution "Center of information technologies in finance" which has full access to all functions of system, files and databases relating to electronic platform.

8. The holder of electronic platform carries out the following obligations:

1) is provided by development, servicing and safety of the electronic platform placed on general government technological framework (MCloud) based on the agreements signed with the owner;

2) is performed by monitoring of activity of users on electronic platform, and also processes of record and data processing on electronic platform;

3) ensures availability, safety, integrity and data protection;

4) provides the modifications / corrections / developments requested by the owner of electronic platform;

5) is provided by provision of access to electronic platform to users based on statements for access provision in which the name and surname are entered, appropriating login, the password and role.

9. Technical administrator of electronic platform is public institution "Center of information technologies in finance" which is responsible for technical requirements of electronic platform and integration with information systems of general access (MPay, MNotify, MLog, MConnect, etc.) and with system of Single Central Securities Depository according to the Order of the Government No. 192/2021 about approval of the Concept of the Program of direct sale of government securities to physical persons in the Republic of Moldova.

10. Users of electronic platform are:

1) retail investors are the citizens of the Republic of Moldova who reached at the time of acquisition of government securities of age at least 18 complete years having the existing payment account opened at one of payment service providers in the Republic of Moldova, and having the qualified expanded digital signature;

2) issuer of government securities - The government on behalf of the Ministry of Finance;

3) the managing director of transactions with government securities - the Ministry of Finance;

4) the primary dealer - bank which is allowed by the Ministry of Finance to implementation of transactions with government securities in the market of government securities as corresponding to selection criteria and which can perform transactions on its own behalf and on behalf of the clients, physical persons and/or legal entities, residents or nonresidents.

11. Tasks of users of electronic platform are:

1) for "the issuer of government securities":

a) management of key parameters of government securities;

b) requesting of registration of government securities in system of Single Central Securities Depository;

c) the direction in Single Central Securities Depository of messages on placement / early repayment / exchange of government securities;

d) establishment of subscription period during which retail investors can place purchasing requests of government securities;

e) transfer to Single Central Securities Depository upon termination of subscription period of information on quantity of the government securities signed by investors;

f) providing the necessary financial resources on the account in the Automated Interbank Payment System (AIPS) intended for interest payment and the redemption of the government securities which are at primary dealers as a result of transactions on purchase of government securities from retail investors;

2) for "the dispatcher of transactions with government securities":

a) registration on electronic platform of the government securities available to sale to retail investors;

b) setup on electronic platform of subscription period during which retail investors can submit purchasing requests of government securities;

c) sale of government securities to retail investors within the available inventories;

d) management of the transactions concerning government securities (payment of the coupon, repayment of government securities) in connection with retail investors;

e) separate accounting of the government securities which are at each investor and providing daily reconciliation of data with system of Single Central Securities Depository;

f) registration, accounting and cancellation of the restrictions applied concerning government securities, belonging to retail investors (the arrest, pledge or other encumbrances applied concerning the government securities belonging to retail investors, sending the bank agenda);

g) compliance with law about the prevention and anti-money laundering and financing of terrorism in the course of identification, studying and implementation of monitoring of retail investors;

h) management of aspects of interaction with retail investors (consultations, consideration of addresses etc.);

i) information management about the transactions with government securities performed by retail investors, including submission of reports to retail investors, the state bodies requesting provision of information, archiving of data etc.;

3) for "retail investors":

a) order placement on purchase of government securities on electronic platform;

b) viewing of the purchased government securities;

c) the direction of the request about intention to sell the purchased government securities through electronic platform;

d) use of electronic platform on condition of observance of these Regulations and the applied legislation;

e) purchase and sale of government securities through electronic platform based on acceptance of the terms and conditions placed on electronic platform.

12. Retail investors are treated to suspension actions of accounting record on electronic platform in case of non-compliance with requirements of letter and) the subitem 3) of Item 11 or violation of the terms and conditions established in letter b) the subitem 3) of Item 11.

Chapter III of the Right and obligation of subjects of electronic platforms

13. The owner of electronic platform has the right to request from the holder of electronic platform of improvement of functionality of electronic platform based on the agreement.

14. The owner of electronic platform shall:

1) to provide development of the regulatory base of electronic platform;

2) to provide planning of financial resources for the accomplishment of annual servicing and additional developments necessary for electronic platform.

15. The holder of electronic platform has the right:

To provide 1) the modifications / corrections / completions requested by the owner of electronic platform in the limits set by the owner;

2) to establish specifications of operation of electronic platform;

3) to make suggestions for improvement of functionality of electronic platform.

16. The holder of electronic platform shall:

1) to provide administration, servicing and information security of electronic platform;

2) to provide cast and access rights to electronic platform;

3) to perform monitoring of process of record and data processing on electronic platform;

4) to exercise supervision of observance by subjects of electronic platform of requirements of information security, to fix cases and attempts of their violation;

5) to establish specifications of functioning of electronic platform;

6) to take necessary organizational and technical measures for ensuring protection and confidentiality of information which is stored in the database of electronic platform including for protection against destruction, change, blocking, copying, distribution, and also other wrongful acts, the measures aimed at providing the high level of safety adequate to the risks connected with processing and with nature of the processed data;

7) to carry out the organizational and technical actions necessary for providing the mode of confidentiality and safety of personal data according to regulations about personal data protection;

8) to provide safe information access, containing on electronic platform, observance of conditions of its safety and service regulations.

17. Users of electronic platform have the right:

1) to use functionality of electronic platform;

To request 2) from the holder of electronic platform consulting support concerning use of electronic platform.

18. Users of electronic platform shall:

1) to observe this Time limit;

2) to cooperate with the holder of electronic platform for safety of access to services and to report about any suspicious actions of which they know and which can represent the attack to the corresponding services;

3) not to publish, not to transfer and not to extend doing harm, obscene, slanderous or illegal information;

4) not to use electronic platform by method which can lead to damage of other information systems;

5) not to use any software application or the device which prevents work of electronic platform, and also not to load or not to make available in any manner the files containing wrong data or viruses;

6) not to receive and not to try to get unauthorized information access, irrespective of method;

7) not to use electronic platform in the advertizing purposes or for any sort of the request / offer, having commercial character.

Chapter IV Maintaining electronic platform

19. The electronic platform is conducted in state language by its owner who provides its administration, servicing, development and permanent management.

20. Administration of the data containing on electronic platform is performed by her holder based on the agreements signed with the owner and these Regulations by means of complex of program technical means.

21. Effective and smooth operation of electronic platform is ensured by continuous information data exchange between subjects of electronic platform and the database.

Chapter V Registration, change, amendment and removal of data on electronic platform

22. Data recording on electronic platform is performed by the registrar.

23. Records are made in chronological procedure, registration date in system is appropriated to each record.

24. Change and/or amendment of data within electronic platform are performed by the registrar.

25. Change and amendment of data are performed during the storage duration established according to the legislation.

26. The electronic platform provides accounting of all changes and amendments. All changes made to electronic platform are stored in chronological procedure in case of direct preserving their history. Change and/or amendment of data does not influence access and viewing of information on electronic platform.

27. Any change or amendment of electronic platform is made only based on supporting documents and/or with indication of the reason confirming legitimacy of the actions made in system.

28. After storage duration on electronic platform data are removed from electronic platform with the corresponding registration of events and the subsequent archiving according to the legislation.

Chapter VI Interaction with other information systems

29. The electronic platform interacts with the following information systems of general access:

1) platform of interoperability (MConnect) which provides communication with the State register of the population, the Register of bank accounts, system of Single Central Securities Depository and the Automated Interbank Payment System (AIPS) of National Bank of Moldova;

2) government electronic payment service (MPay) which provides payment of the government securities acquired by the retail investor;

3) government electronic service of authentication and access control (MPass) which provides the mechanism of authentication of users within electronic platform;

4) government service of the electronic notification (MNotify) which provides the mechanism of the notification of users within electronic platform;

5) government electronic service of recording (MLog) which provides the mechanism of logging of the user events within electronic platform;

6) the integrated government electronic service of the digital signature (MSign) which provides authenticity and application of the digital signature by retail investors;

7) the Government portal of the citizen (MCabinet) which is used in addition for access to electronic platform and provides the mechanism of viewing by users of electronic platform of the acquired government securities.

30. The electronic platform is placed on general government technological framework (MCloud).

Chapter VII Ensuring protection and safety of information

31. Data of electronic platform belong to the category of data which shall be protected. Safety, confidentiality and integrity of the data processed on electronic platform is performed by the subjects having access rights to system in case of strict observance of safety requirements of personal data in case of their processing.

32. Measure of protection and data security of electronic platform are integral part of works on creation, development and functioning of electronic platform and are staticized by all subjects of electronic platform.

33. Exchange of information is performed with use of the software, only via the secure channels ensuring integrity and data security.

Chapter VIII Control and responsibility

34. Creation, the organization and functioning of electronic platform are subject to internal and external control. Internal control behind the organization and work of electronic platform is performed by the owner. External control is exercised by authorized bodies of public administration according to plans of activities.

35. Responsibility for the organization of work of electronic platform is born by its owner.

36. Users whose tasks enter administration of electronic platform, data entry, provision / receipt of information and/or ensuring functioning of electronic platform bear the personal responsibility according to the legislation for completeness, authenticity, reliability, integrity of information, and also for its storage and use.

37. The responsible person bears responsibility according to the legislation for the spoil, falsification, destruction and other wrongful acts made concerning information on electronic platform.

38. All subjects of electronic platform bear responsibility according to the legislation for processing, disclosure and transfer of information to the third parties from the system containing personal data contrary to legislation provisions.

39. For the purpose of ensuring effective functioning of electronic platform the holder of electronic platform can interrupt functionality of electronic platform for carrying out transactions on maintenance.

40. The owner and the holder of electronic platform do not bear any responsibility if certain information is provided with delay, is lost, removed or will not be able to be kept on servers of electronic platform for any reason which is not depending on them and are not responsible for misuse by the user of functionality of platform. The owner and the holder of electronic platform do not bear responsibility for the data transferred on electronic platform for mistakes, omissions, removal of data, delays and shortcomings which are arising in case of data transmission, occurred not them on fault.

41. Work of electronic platform stops the holder of electronic platform after preliminary approval of the owner in case of one of the following circumstances:

1) carrying out scheduled maintenance for complex of the software of electronic platform;

2) emergence of the justifying obstacles;

3) violation of requirements of system of information security if it constitutes danger to work of electronic platform;

4) emergence of technical difficulties in work of complex of the software of electronic platform;

5) official declaration of the owner.

42. In case of the justifying obstacles and technical difficulties in work of complex of the software of electronic platform because of the third parties suspension of work of electronic platform when informing users available technical means is possible.

 

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