The NCFM appealed against the court decision on transferring to two audit companies the temporary special administration of Moldasig.
The press release of the commission says that the decision of the Chisinau court of the Riscani sector is unfounded, illegal and must be canceled. “The court of first instance violated and incorrectly applied the norms of substantive law, violated procedures in the administrative process and did not provide convincing evidence. The conclusions of the court of first instance, set out in the court opinion, are erroneous, they are distorted and contradict the factual circumstances of the case, ”reads a press release from the National Commission on Financial Market. It is noted that the NCFM is an autonomous state body that regulates the activities of the non-banking financial market, ensures control over the observance of legislation by market participants, and is empowered to make decisions, permit a ban, intervene, control, apply disciplinary and administrative sanctions within the limits established by law. As a reminder, last week the Chisinau court established a temporary special administration in Moldasig, appointing Confidential-Audit and Altimeea companies as temporary administrators. At the same time, the company administrator Victor Coada and the council of the company were removed from their functions. In order to enforce the judgment, the NCFM requested information on the new administrators of Moldasig and used the right to appeal against the decision of the Chisinau Court of the Riscani sector in the Appeals Chamber. Herewith, the regulator suspended banking operations on Moldasig accounts, fulfilling its authority to supervise the integrity and safety of its assets, as well as ensuring the protection of the rights and interests of the insurance company's clients.// 12.11.2020 — InfoMarket.