RESOLUTION OF THE NATIONAL COMMISSION ON THE FINANCIAL MARKET OF THE REPUBLIC OF MOLDOVA

of November 28, 2014 No. 57/10

About approval of the Regulations on public offers of shares of the organizations of collective investment into securities

Based on Art. 89 of the h. (15), Art. 91 of the h. (8) and Art. 94 of the h. (3) the Law No. 171 of 11.07.2012 "About the capital market" (The official monitor of the Republic of Moldova, 2012, No. 193-197, the Art. 665) the National commission on the DECIDES: financial market

1. Approve Regulations on public offers of shares of the organizations of collective investment into securities, according to appendix.

2. This resolution becomes effective from the date of publication.

Appendix

to the Resolution of the National commission on the financial market of the Republic of Moldova of November 28, 2014 No. 57/10

Regulations on public offers of shares of the organizations of collective investment into securities

This Provision is partial transposition of the Directive 2009/65/EC of the European Parliament and Council of July 13, 2009 about the coordination of legislative and administrative provisions concerning the organizations of collective investment into securities (OKITsB) (reforming) (the text, relevant for SEE) published in the Official magazine of the European Union No. L 302 of November 17, 2009, the Regulations (EU) No. 583/2010 of the Commission of July 1, 2010 about enforcement of the Directive 2009/65/EC of the European Parliament and Council concerning the key information intended for investors and conditions which shall be carried out in case of delivery to investors of key information or prospectus on the tough carrier, other by what paper, or by means of the electronic page (the text, relevant for SEE), the European Union published in the Official magazine L 176 of July 10, 2010 and Directives 2010/43/EU of the Commission of July 1, 2010 about enforcement of the Directive 2009/65/EU of the European Parliament and Council concerning organizational requirements, conflicts of interest, rules of conduct, risk management and contents of the agreement between depositary and managing company (the text, relevant for SEE) published in the Official magazine of the European Union by L 176 of July 10, 2010.

Chapter I. General provisions

1. This Provision establishes requirements to issue, public sale and the redemption of shares of investment funds and shares of investment companies, to registration in the National commission on the financial market (further – the National commission) public offer of shares or shares, including to the minimum contents of the prospectus of the issue, to the simplified prospectus and to the document with key information for investors.

2. The concepts and expressions used in this Provision have the determinations provided by the Law No. 171 of July 11, 2012 "About the capital market" (further – the Law No. 171 of July 11 2012). For the purposes of this provision the below-stated concepts and expressions have the following determinations:

accumulation account – the account opened in depositary bank of the organization of collective investment into securities (OKITsB) and intended for funds accumulation for the purpose of continuous release and the redemption of shares;

synthetic hazard rates and profitability – indicators of risk level to which the investor is subject, calculated on the basis of the previous achievements of OKITsB;

the intermediary – the investment society having the license of category B or C in the capital market and his authorized agents rendering services of mediation in case of subscription/investment of shares and/or providing consultations of rather potential investments into OKITsB based on the agreement of distribution of shares signed with society on trust management of investments (ODUI) / investment company;

the tough carrier – the tool (paper, CD ROM, the DVD, hard drives of personal computers, etc.) which allows the investor to store information addressed personally to it in more available form for further consultation and for period of time adequate to the purposes of the relevant information and which gives the chance in accuracy to reproduce the saved information;

shares – the shares or investment share issued by investment companies or respectively investment funds which take continuously place and redeemed.

Chapter II. Prospectus of the issue of OKITsB

3. The public subscription to shares of OKITsB is implemented on the basis of the prospectus of the issue approved by the National commission.

4. The prospectus of the issue is constituted by ODUI in case of investment fund / managed investment company or founders / administrative board of the self-controlled investment company in the form provided by this Provision.

5. The prospectus of the issue of shares of OKITsB includes at least information provided in appendix No. 1.

6. The prospectus of the issue of shares, by means of the standard formula printed on prospectus cover warns potential investors that:

1) investments into OKITsB are not bank deposits, and banks as shareholders of ODUI / investment company do not provide to the investor any guarantee of compensation of the invested amount;

2) approval of the prospectus of continuous public offer of shares by the National commission does not mean that the National commission approved and estimated quality of investment into respective shares of participation and does not guarantee the obligation of the offerer, and is ascertaining of the fact that the prospectus is constituted in full and conforms to requirements to its structure and content;

3) OKITsB assume not only benefit, characteristic of them, but also risk of not goal achievement, including losses from investors as income gained from investment, as a rule, is proportional to risk.

7. Can be included in contents of the prospectus of the issue and:

1) text of the constituent act / rules of fund;

2) text of the trust management agreement as necessary;

3) text of the depositary agreement;

4) the text of internal regulations in case of the self-controlled investment companies;

5) notes from the agreement of particular partnership which do not meet in appendix No. 1;

6) calendar days in which ODUI and/or intermediaries do not register transaction on subscription and/or the redemption of shares.

8. Entering into the prospectus of information specified in Item 7, which is attached to the prospectus is not obligatory.

9. The prospectus and the simplified prospectus shall contain information necessary for investors for carrying out the informed assessment of the offered investment.

10. The prospectus and the simplified prospectus contain the accurate and available description of profile of risk of OKITsB irrespective of in what tools it invests.

11. Any person which is signed on shares submits the declaration to which confirms that the prospectus is received, read and understood by it.

12. Intermediaries, within these activities shall provide implementation of subscription to OKITsB shares only after assurance of receipt by the investor of the prospectus according to the procedure, established in Item 11.

13. The prospectus can be provided on the tough carrier or by means of the electronic page. One printed copy of the prospectus is provided to investors gratuitously according to their requirement.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info