Participation of the representatives of the Financial and Monetary Policy Department at the closing session of the Twinning project
Views: 987 / Published: 12-07-2017, 09:37

On July 07, 2017, the representatives of the Financial and Monetary Policy Department participated within the closing session of the Twinning project "Development and consolidation of the National Commission for Financial Markets’ operational and institutional capacities in the field of prudential regulation and supervision". The project in question was implemented by the Polish Financial Supervisory Authority (KNF) for the benefit of the NCFM, being funded by the European Union within the European Neighborhood and Partnership Instrument.

The event was attended by: the President of the Board of Administration of the National Commission for Financial Markets, Valeriu Chiţan, the EU Ambassador to the Republic of Moldova, Pirkka Tapiola, the Advisor to the Embassy of the Republic of Poland in the Republic of Moldova, Joanna Boiko, the Special Adviser for the Financial Supervisory Authority From Poland, Professor Leslaw Gajek, state officials, as well as representatives of professional participants on the non-banking financial market, etc.

The reporters presented the main results of the project, following the implementation of a wide range of consultancy and training activities for strengthening the operational and institutional capacities of the NCFM in the field of prudential regulation and supervision of the domestic capital market.

During the two years of Twinning Project implementation, four components were developed: Component 1 – Strengthening operational and institutional capacities of the NCFM; Component 2 – Capital market and investment funds; Component 3 – Insurance companies; Component 4 – Savings and credit associations (credit unions) and pension funds. The activities specifically focused on reviewing and evaluating legislation setting out the mandate and supervision domains of NCFM, as well reviewing the NCFM's prudential supervisory capabilities, including market data, e-supervision and supervisory procedures.

The project's missions have been carried out in partnership with the specialists of the Polish Bank Guarantee Fund, the Insurance Guarantee Fund and the Central Securities Depositary in Poland, these institutions possessing rich theoretical and practical experience, but also a strong base related to a particular subject of the project activity.