What investment services are and how they help us access the capital market safely
Automatically translated summary. The full text is available in Romanian.
An information note prepared under the National Financial Education Campaign, implemented by the National Bank of Moldova and Expert-Grup, explains what investment services are and how investors in the Republic of Moldova can use them to access the capital market safely and avoid fraudulent offers.
Investment firms, known as brokers, are authorised by the National Commission for Financial Markets (CNPF) under Law 171/2012. They receive, transmit and execute orders, manage portfolios and provide investment advice. Before offering a service, they must assess the client's knowledge, experience, risk tolerance and capacity to bear losses, judging both appropriateness and suitability. Services start with a contract and a brokerage account.
CNPF supervision covers only the Moldovan capital market; foreign markets fall under their own countries' rules. Payments for foreign instruments above EUR 10,000, or for instruments not issued by international organisations, need prior National Bank of Moldova authorisation. Forex and crypto platforms are not regulated, so clients cannot claim their rights. CNPF has noted more reports of dubious offers and publishes a register of authorised providers.
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