ACI Partners: Legal Flash No. 17

ACI Partners: Legal Flash No. 17

• 13.10.2015

This Legal Flash brings you latest news on the new Regulation on the Ombudsman Office, National Commission for Financial Markets regulations on undertakings for collective investment in transferable securities (the “UCITS”) partially transposed from Directive 2009/65/EC and National Bank of Moldova decision on issuing new banknotes of Moldovan Leu.

Official Gazette no 267-273 of 2 October 2015

The Regulation on ”master-feeder” structures establishes particularities of authorization and operation of ”master-feeder” structures, the provisions of the agreement or the internal conduct rules, content of the prospectus, format and way of transfer of information on investment of undertakings for collective investment in ”feeder” type transferable securities to holders of securities, consequences of reorganization and liquidation of undertakings for collective
investment in transferable securities of ”master” type upon undertakings for collective investment in transferable securities of ”feeder” type, and method of calculation on global exposure related to holding of derivatives.
A undertaking for collective investment in transferable securities (the “UCITS”) of ”feeder” type is an undertaking authorized to invest at least 85% of its assets in shares or units issued by another undertaking for collective investment in
transferable securities (the master UCITS).

The National Bank of Moldova decided to put into circulation from 12 October 2015, as means of payment, seven modernized banknotes with nominal value of MDL 1, MDL 10, MDL 20, MDL 50, MDL 100, MDL 200 and MDL 500 on the territory of Moldova. Modernized banknotes will be issued in circulation gradually upon depletion of the stocks of banknotes of 1993-2013 emissions.
Old banknotes will be withdrawn from circulation gradually when getting unfit for circulation as a result of use and deterioration.

Read the full information in English or Romanian.

ACI Partners

ACI Partners is a dynamically growing Moldovan law firm with an expanding network of partners throughout Europe. ACI Partners was established by separation of the legal business from Ernst & Young Moldova and as such it draws from the latter|s long-acknowledged ability to offer competent advice. ACI Partners’ business strategy is to deliver a solid and reliable service, which the clients may turn to whenever they need. To reach this goal, ACI Partners employs a personalized approach to each client, showing a genuine respect for their values and unqualified commitment to their interests and needs, steadily investing in knowledge and data management and ensuring a working environment consistent with their clients’ quality demands and high expectations.