with regard to the results of the monitoring of compliance with complex egislaţiei in the field of savings and loan associations by A.E.Î. "ASPAR"



Published: 17.06.2016 in Official Gazette No. 163-168, art no: 1054 date of entry into force: 10.06.2016 pursuant to the Ordinance of the National Commission of financial market (C.N.P.F.) No. 14/3-a from 31.03.20161 and Order the Vice President C.N.P.F. nr. 19 of 01.04.2016, was performed a complex control regarding compliance with legislation in the field of savings and loan associations by A.E.Î. "ASPAR" (the village of Poplar-Hives, Căuşeni, on WHOSE BEHALF 1003608006325), for the period of activity 01.04.2013-31.03.2016, which holds the license of category B NCFM series No. 000123 "issued to date 05.03.2009, in which were found the following.
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 1 "Monitorul Oficial" of the Republic of Moldova, by 2016. 90-99, art. According to reports, 498 A.E.Î. "ASPAR" (hereinafter the Association) has registered the following indicators of basic features of the activity of savings and loan associations, which are presented in the table below:



(thou lei)









Nr.





Indicators





31.03.2015





31.03.2016





Towards 2016, 2015 (-, +)





Towards 2016, 2015 (%)









1.





Loans granted





3089.9





3837.8





+ 747.9





124.2









2.





Provision for losses on loan





-147.5





-182.2





+ 34.7





123.5









3.





Total assets





3968.4





4243.7





+ 275.3





106.9









4.





Bank credits and loans received





736.6





397.2





-339.4





53.9









5.





Savings deposits





1907.6





1996.7





+ 89.1





104.7









6.





13.2 net profit





136.9





+ 123.7





Increase of 10.4 times










From the data table shows the increase is registered, the majority of indicators in particular of loans by about 24.2 percent share in total assets constitute 90.4 percent. The increase in net profit of about 10.4 times is due to an increase in income from interest burden of loans granted and other operational income. At the same time, the increase in savings deposits with approximately 4.7 per cent, while diminishing bank credits and loans received, ensuring beneficiaries ' applications for loans from their account.
The 31.03.2013-31.05.2013, 31.10.2013-30.11.2013, 28.02.2014, 31.05.2014-28.02.2015, 31.08.2014, 30.06.2014-31.03.2015, 30.11.2015-31.03.2016 and 29.02.2016-31.12.2015, Executive Director of the Association has not secured compliance with the requirements of item 12 of the rules of financial prudence to savings and loan associations, approved by Resolution No. C.N.P.F. 17/8 of 30.04.20082 (hereinafter-the rules of financial prudence), concerning the placement of institutional reserve not less than 4 percent of assets in bank accounts of deposit and/or state securities. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 2 Official Gazette of the Republic of Moldova, 2008, nr. 131-133, art. 381 in the period 30.11.2015-Investment Fund Association 31.12.2015 liquidity amounted to less than 10 percent of the total amount of savings deposits, and thus violated the requirements of article. 9 para. (2) (a). c), art. 35 of the law on savings and loan associations no. 139-XVI from 21.06.20073 (hereinafter-law No. 139-XVI from 21.06.2007) and point 7 of the regulation on the liquidity fund of savings and loan associations, approved by Decision C.N.P.F. nr. 16/3 of 27.03.20154, whereby the Association that holds category B licence is required to maintain liquidity in the Investment Fund in minimum size calculated in accordance with paragraph 13 of the rules of financial prudence.
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 3 Monitorul Oficial of the Republic of Moldova, 2007, nr. 112-117, art. 506 4 Monitorul Oficial al Republicii Moldova, 2015, no. 105-109, art. Administrators Association didn't have 699 ensured compliance with pсt requirements. 36 from the rules of financial prudence, being found 13 instances in which the Association has not been addressed in court for the repayment of loans and related interest overdue more than 90 days, in size about 100.7 MDL.
Contrary to the requirements of art. 36 para. (5) of law No. 139-XVI from 21.06.2007, 10 members of the Association had not provided full payment of membership shares in the size laid down in General Assembly members and art. 18.12.2005 15 of the Statute.
During the period of supervision of the managing bodies of the Association do not have secured in full measure compliance with the procedure for convening the general meeting of the members of repeated 27.03.2016, documents relating to the convening of the Assembly in question being sent to members in violation of the time limit laid down in article 21. 38 para. (3) 1 of law No. 139-XVI from 21.06.2007.
Renting out the requirements of art. 8 para. (2) of law No. 190-XVI of 26.07.2007 on preventing and combating money laundering and financing of terrorism "5, 10 data related transactions acceptance/reimbursement of savings deposits and a transaction relating to the granting of the loan, made by a cash transaction or several transactions worth over 100.0 thousand lei in different periods, were not delivered Service preventing and combating money laundering.
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 5 Monitorul Oficial of the Republic of Moldova, 2007, nr. 141-147, art.  597 in the aforesaid, pursuant to art. 1, art. 3, art. 4, art. 8 lit. b) and subparagraph (c). f), art. 9 para. (1) (a). d) and lit. j), art. 22 paragraph 1. (3), art. 25 para. (2) of law No. 192-XIV of 12.11.1998 "Concerning the National Commission for financial market", article 6. 9 para. (2) (a). e), art. 46 para. (1) paragraphs 1 and 2. (2) and paragraphs 1 and 2. (5), art. 49 para. (1) (a). c) of law No. 139-XVI from 21.06.2007, Prudential Financial Rules _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 6 Republished in the Official Gazette of the Republic of Moldova, 2007, nr. 117-126 BIS

NATIONAL COMMISSION of the market FINANCIAREHOTĂRĂŞTE: 1. the procedure is initiated by the Administrative Director, Executive A.E.Î. "ASPAR" in accordance with the code of administrative offences of the Republic of Moldova.
2. reminds the administrators A.E.Î. "ASPAR" on the need to respect the unconditional election of the legislative and normative acts.
3. Prescribe appropriate measures undertaking for the purpose of applying to the Court for the repayment of all loans and related interest overdue more than 90 days within a period of 2 months from the date on which this intării decisions.
4. notes that the removal of the A.E.Î. "ASPAR" some violations reflected in its control, namely:-the date of the remission Service 26.05.2016 the prevention and combating of money laundering relating to the transaction data under the law of 11 unreported on combating money laundering and financing of terrorism;
-full payment of membership shares by 3 people and the exclusion of members of the Association in accordance with the Council decision of 7 persons from 26.05.2016 have not paid membership listing in the size established;
-compliance with A.E.Î. "ASPAR" requirements of 26.05.2016 item 12 of the rules of financial prudence;
-payment by 5 members of loans and related interest overdue more than 90 days in the amount of around 27.4 thousand lei.
5. A.E.Î. "ASPAR" will present monthly National Commission of financial market reports on measures taken to enforce the section 3, with the annexation of children supporting documents.
6. control of the execution of the given decision is put in charge of the Directorate-General for collective investments and microfinance.

7. this decision shall enter into force on the date of its adoption, shall be published on the official website of the National Commission of financial market (www.cnpf.md) and in the Official Gazette of the Republic of Moldova.

VICE-CHAIRMAN of the NATIONAL COMMISSION of FINANCIAL MARKET Karen Fahie