The regulation on reporting obligations and transparency in the activity of administrators and facultative pension funds took effect.
The document approved by the National Financial Market Commission’s Management Board was published on February 21 in Monitorul Oficial (the Official Journal of Moldova). It establishes the content, form, procedure for drawing up, presentation and publication of reports on the activities of administrators and facultative pension funds managed by them. Weekly, monthly and annual reporting deadlines have been established for the administrators and each pension fund under their management. A separate chapter establishes information and transparency obligations. For example, the administrator is obliged to publish on its site an annual report on the activity; monthly - to report on the site about every pension fund (number of participants, structure by sex and age, cost of gross contributions, the structure of investment portfolio), weekly - information on the net asset of every pension fund. Obligations to inform participants and requirements to advertising materials are also stipulated. For example, any promotional material must contain information about the identity of the administrator, IDNO, name, location, license data, etc. Promotional materials are prohibited from evaluating future pension fund achievements; comparing achievements or any other aspects of different pension funds; using declarations of previous, current, or potential participants; and language that may generate discretionary interpretations, such as "the largest," "the best pension fund," etc. // 21.02.2023 – InfoMarket
