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The NCFM suspended operations on bank accounts of the insurance company Moldasig and requested information on the representatives of the temporary administrators.

The NCFM suspended operations on bank accounts of the insurance company Moldasig and requested information on the representatives of the temporary administrators.

The Administrative Council of the National Commission for Financial Market made a decision to suspend banking operations on current and deposit accounts of Moldasig. Withdrawal operations will be carried out with the prior consent of the supervisory authority. In addition, transactions with the insurer's assets are prohibited without the prior consent of the NCFM. As reported by the press service of the NCFM, this decision was made by the regulator in the context of the decision of the Chisinau court, adopted on November 6 in relation to Moldasig. The court, in particular, introduced a temporary special administration in Moldasig and appointed Confidential-Audit and Altimeea as temporary administrators. By a court decision, the administrator of the company, Victor Coada, and the council of the company were suspended from performing their functions. The NCFM requested information and documents related to the preliminary approval of the person delegated by Confidential-Audit to temporarily exercise the powers of an official in Moldasig, as well as persons delegated by Altimeea to exercise the powers of members of the council of the company. This is necessary to meet the requirements of professionalism (fit & proper) and comply with the Regulation on Requirements for Officials of Insurers / Reinsurers. As noted in the NCFM, these measures were taken in order to ensure supervision over the integrity and safety of Moldasig assets, as well as to protect the rights and interests of insured persons. According to the court's decision, the auditing company Altimeea will manage newly issued Moldasig shares - 450.1 thousand ordinary registered shares at a par value of 100 lei worth 45.01 million lei. // 10.11.2020 — InfoMarket.