It has been over a year since the amendment of the Law on Investment Funds, which required investment funds operating in Moldova to reorganise or liquidate. It is early to discuss the effects of the Law; certain preliminary conclusions yet can and need to be made.
The Concept for Mending the Stock Market, adopted by the Government at the end of 2003, initiated the actions towards the amendment of the Law on Investment Funds and some experts were taken by surprise by that Concept.
First of all, they argued the subject of the document was more related to the competence of another public authority – the National Securities Commission. Second of all, the document’s format was unusual: a concept on recuperating the securities market laid in only one page! Continue reading The Amnesty of Investment Funds