Moldova's legislation on activities of central securities depositories harmonized with EU rules

Chisinau, October 8, 2026 – The parliament voted, in the second reading, on the draft law on central securities depositories, submitted as a legislative initiative by the government and drafted by the National Commission for Financial Markets and the National Bank of Moldova (BNM).

The adopted provisions harmonize the national regulatory framework with European Union legislation in this area. The drafting of the legislative initiative is provided for in the National Programme on Moldova’s Accession to the European Union for 2025–2029.

The document regulates matters concerning settlement discipline, the cross-border provision of services, supervisory cooperation and the requirements applicable to central securities depositories.

Thus, the legislation will require securities to be registered in accounts in immobilized or dematerialized form, in order to reduce risks and ensure traceability. Settlement operators will also be required to periodically inform the authorities about transactions carried out outside central securities depositories. At the same time, central securities depositories authorized in European Union member states will be able to provide services in Moldova, including by establishing a branch. The draft law also establishes a cooperation mechanism between the competent authorities of EU member states and the ones of Moldova.

The document also provides for mechanisms concerning settlement discipline, including daily penalties for participants who cause the non-execution of transactions and, where appropriate, the application of a mandatory buy-in procedure.

The new regulations will enter into force 12 months after their publication in the Official Journal.





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Communications and Public Relations Directorate of Moldova’s Parliament