On The Failure Of The Microfinance Organizations Annual Financial Statements

Original Language Title: cu privire la neprezentarea de către organizațiile de microfinanțare a situațiilor financiare anuale

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Read the untranslated law here: http://lex.justice.md/index.php?action=view&view=doc&lang=1&id=364289

As a result of monitoring the annual financial statements submitted to the National Commission of Financial Market by microfinance organizations in accordance with the requirements of Art. 9 paragraph. (3) of Law no. 280-XV of 22.07.2004 "On microfinance organizations" (Official Gazette of the Republic of Moldova, 2004, no. 138-146, art. 737), art. 13 para. (2) h) and art. 38 para. (3) a) the Accounting Law no. 113-XVI of 27.04.2007 (republished in the Official Gazette of the Republic of Moldova, 2014, no. 27-34, art. 61), there was the failure by some microfinance organizations annual financial statements for the reporting year 2015. || | Proceeding from the above, pursuant to art. 1, art. 3, art. 4 art. 8 letters b) and lit. f) art. 9 paragraph. (1) d) letter e), lit. j) and lit. r), art. 21 para. (1), Art. 22 para. (3), art. 25 para. (2) of Law no. 192-XIV of 12.11.1998 "On the National Commission of Financial Market" (republished in the Official Gazette of the Republic of Moldova, 2007, no. 117-126 BIS), art. 9 of Law no. 280-XV of 22.07.2004 "On microfinance organizations"
National Securities Commission FINANCIAREHOTĂRĂŞTE
:

1. Prescribing managers of microfinance organizations in the annex of the National Commission of Financial Market presentation of the financial statements mentioned above within 3 working days from the effective date of this decision.
2. It warns administrators microfinance organizations listed in the Annex that, for infringements pt. 1 of this decision will be applied rigorous measures provided for by law, including contravention procedure will be initiated according to the Code of Administrative Offences of the Republic of Moldova.
March. Control over the execution of this decision is the responsibility of the General Directorate of collective investments and microfinance.
4. This decision shall enter into force in accordance with art. 22 paragraph (3) of Law no. 192-XIV of 12.11.1998 "On the National Commission of Financial Market".


COMMISSION VICE NATIONAL FINANCIAL MARKET Iurie FILIP

N. 16/3. Chisinau, April 8, 2016.

Annex