Dentons advises on the licensing of Moldova International Stock Exchange

Bucharest-Global law firm Dentons advised on the licensing of the Moldova International Stock Exchange, a new capital markets infrastructure in the Republic of Moldova developed with the involvement of Bucharest Stock Exchange (BVB) and other leading institutional and financial stakeholders.

The project reached a key milestone with the decision of the National Commission for Financial Markets of the Republic of Moldova (CNPF) to grant to Bursa Internațională a Moldovei S.A. a market operator license for an unlimited duration, as well as the authorizations required to administer and operate a regulated market and a multilateral trading facility (MTF).

Dentons' provided insight into international and EU law, as well as relevant European practices, contributing to the alignment of the regulatory and licensing documentation with applicable European capital markets standards, including MiFID II requirements.

Partner Loredana Chitu, Head of the Capital Markets practice in Bucharest, led the Dentons team, assisted by senior associate Alin Roca and associate Bogdan Galatanu. Dentons worked closely on the project with ACI Partners, which advised on Moldovan law matters and closely supported the licensing process. The ACI Partners team was led by Igor Odobescu as project manager, alongside Carolina Parcalab, Cristina Martin, Nicolina Turcan and Doina Doga.

Loredana Chitu stated: "We are pleased to have contributed our legal knowledge of international standards to the licensing process for Moldova International Stock Exchange, working closely with ACI Partners on this important project for the development of the capital market. Backed by a strong group of institutional and financial shareholders, the new exchange has the potential to diversify financing options for companies, expand investors' access to new investment opportunities, and contribute to the development of a modern capital market aligned with European standards and practices."

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