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Our Partners are often invited to speak at professional business forums and to publish their views with specialized journals or newspapers. Recent articles and presentations are posted herein.

If you are interested in getting further information, please contact us.

News & publications

[February 2024]
Newsletter: Recent data protection regulatory novelties
By: Iulian Pașatii

A news piece on the recent data protection regulatory novelties, including the concepts of DPO, DPIA, and SCCs.


PDF (English)


[February 2024]
Recent Amendments to the IT Parks Law Set the Course for Moldova as a Hotspot for BPO
By: Irina Sugoneaco and Catalina Stavila

The latest amendments to the IT Parks Law notably extend the eligibility criteria for IT Park residents, offering particular advantages to export-oriented BPO service providers.


Open article


[January 2024]
A Good Refresh to the SCCs on Cross-Border Transmission of Personal Data
By: Natalia Siretanu and Valeria Grisciuc

The content of the Standard Contractual Clauses (“SCCs”) for cross-border transmission of personal data is going to be amended, to transpose the GDPR requirements.


Open article


[January 2024]
Moldova: Insurance Overview / Complinet Country Guide.
By: Irina Sugoneaco and Catalina Stavila

The new regulatory requirements, imposed by the 2023 Law on Insurance and Reinsurance and the subsequent regulatory suite, coupled with the new data protection and AML requirements, has posed an increased compliance burden onto the Moldovan and foreign insurance undertaking doing business in Moldova.


PDF (English)


[July 2023]
AML: Recent Anti-Money Laundering Developments in Moldovan Financial Services Sector / CEE Legal Matters.
By: Vlad Roibu and Constantin Crețu

Recently, a series of substantial developments in preventing and combating money laundering have been operated and published in the Official Gazette of the Republic of Moldova. This article aims to provide an overview of the most important updates of the internal legislative framework as regards the AML compliance in the field of financial services.


Open article


[March 2023]
Data Protection: Moldovan Novelty in the Legal Framework for International Data Transfers / CEE Legal Matters.
By: Iulian Pașatii and Constantin Crețu

Recently, a series of substantial developments in the data protection area and several eloquent guidelines have been operated and published by the Moldovan Personal Data Protection Authority (PDPA). Iulian Pașatii, Partner and Constantin Crețu, Junior Associate provide an overview of the most important matters to be considered both by data controllers and data processors operating on the territory of the Republic of Moldova.


Open article


[February 2023]
Moldova: AML Overview / Complinet Country Guide.
By: Roger Gladei and Adrian Miron

On November 24, 2022, a group of MPs filed a draft law to amend the AML Law which is based on the recommendations of the MONEYVAL Committee and transposes a series of European directives in the field of AML. Here are some of the most important amendments: […]


PDF (English)


[August 2022]
Republic of Moldova: Securities and Banking Overview / Complinet Country Guide
By: Roger Gladei and Adrian Miron

Find the recent trends and developments to the Moldovan banking and capital market legal framework, to be factored into your investment decision.


PDF (English)


[May 2022]
M&A Trends and Developments / Chambers Global Practice Guide Moldova 2022
By: Roger Gladei and Dan Nicoară

For the second year in a row, Gladei counsels have documented a piece of the legal landscape in motion for the renowned Chambers Global Practice Guides. The paper highlights how the world is changing for those in the trenches getting deals done, as well as focuses on the new challenges strategic acquirers are evolving to meet as the markets take off.


PDF (English)


[May 2022]
Republic of Moldova: Securities and Banking Overview / Complinet Country Guide
By: Roger Gladei and Natalia Siretanu

Massive migration of businesses online, catalysed by the pandemic, expansion of the non-banking financial sector, gaining terrain from the traditional financial services providers, and rationalisation of the regulatory framework for the joint-stock companies, have been the most significant 2020 landmarks in Moldova.


PDF (English)


[March 2022]
Registering an NGO in the Republic of Moldova: a quick guide
By: Irina Sugoneaco and Pavel Spatari

Coming together for Ukraine. This motto has united lawyers from Poland, Romania, Moldova, the Baltic States and other members of Lex Mundi in the effort to legally help those who take care of Ukrainians who have left the country not of their own free will, within the “Ukrainian Crisis Resource Center”.


PDF (English)


[December 2021]
Comparative Legal Guide: Real Estate 2021, Moldova / CEE Legal Matters
By: Roger Gladei, Iulian Paşatii, Irina Culinschi and Alexandrina Roibu

How to sell and acquire real estate under the Moldovan law? Is a share deal or an asset deal more convenient for your business? How to mitigate legal risks when buying or leasing property? All that and more, in the brand new CEELM Comparative Legal Guide, Real Estate 2021, in collaboration with legal firms from 17 jurisdictions.


PDF (English)


[December 2021]
Moldova: AML Overview / Complinet Country Guide.
By: Roger Gladei and Adrian Miron

The new National AML Strategy for 2020-2025, enacted in March 2021, is focused on 4 main objectives to be implemented by 23 national authorities.


PDF (English)


[July 2021]
The raids of the Competition Council raids - brief legal perspective.
By: Vlad Bercu and Dan Nicoară

We can notice that the Competition Council became increasingly active in preventing and combating anti-competitive practices and unfair competition. Time will tell whether this eagerness, sometimes titled as excessive zeal, is the result of the increasing institutional capacity of the Council or may be a response to the political pressure.


PDF (English)


[May 2021]
M&A Trends and Developments / Chambers Global Practice Guide Moldova 2021.
By: Roger Gladei and Dan Nicoară

In premiere for Moldova, Gladei counsels have documented a piece of the legal landscape in motion for the renowned Chambers Global Practice Guides. We discussed the robust M&A activity throughout 2020 – with the top three largest Moldovan deals assisted by our lawyers – as well as the sudden onset of the pandemic and market disruption brought therewith, and the swift pick-up of the activity following the apparent pandemic dust set off in autumn.


PDF (English)


[February 2021]
The Buzz in Moldova: An interview with Roger Gladei / CEE Legal Matters.

Is election of President Sandu turning the tide for Moldova? Are the investments more secure now? A personal view shared with CEELM editors.


Open interview


[January 2021]
Moldova: AML Overview / Complinet Country Guide.
By: Roger Gladei and Pavel Spatari

The controversial new Law No. 75/2020 on AML Violations and Sanctions, enacted on December 12, 2020) imposed on the ‘reporting entities’ material compliance requirements and harsh sanction for the AML/TF violations.


PDF (English)


[August 2020]
M&A Deals: Trends and Developments / CEE Legal Matters Magazine.
By: Roger Gladei and Dan Nicoară

The time is gone forever when our lawyers would sit down in a physical data room to dig through tons of documents provided by the target’s head of legal or corporate secretary. We will miss the personal contact, but it’s fair to say that the due diligence process has become more streamlined and efficient in Moldova, making it possible to shrink the timing of M&As and close deals in weeks rather than months.


Open article


[July 2020]
Republic of Moldova: Securities and Banking Overview / Complinet Country Guide.
By: Roger Gladei and Ecaterina Nacu

Moldovan financial services and capital market legislation has undergone significant modernisation in recent years. Such modernisation has had as objectives: (i) implementing international best standards in the banking area and improving ownership transparency, (ii) reviving the capital market and increasing access to finance through capital market; (iii) shift from rule-based ("tick-the-box" approach) to risk-based supervision in financial sector; and (iv) harmonisation of national laws on credit institutions, capital market, insurance and leasing with European Union legislation.


PDF (English)


[June 2020]
CEE Merger Clearance Matrix, in collaboration with CMS Cameron McKenna Nabarro Olswang & Sorainen.
By: Roger Gladei and Dan Nicoară

Cross border M&A transactions that require merger control approvals in several jurisdictions have become commonplace. To reduce time delays and keep costs down, it is essential to identify at the early stages where and when to notify the local competition authorities, what synergies can be used to prepare the filings, and what strategy should be adopted. The matrix includes a short one-page guide for 17 CEE jurisdictions and aims to provide a helpful and handy overview on financial thresholds, key deadlines and procedures.


PDF (English)


[December 2019]
Republic of Moldova: Any-Money Laundering Overview / Complinet Country Guide.
By: Roger Gladei and Ecaterina Nacu

The Fifth Round Mutual Evaluation Report issued in July 2019, states that the new AML law reformed the standing of the Financial intelligence Unite (FIU), established the principle of a risk-based approach in the application of preventive measures, and improved the customer due diligence (CDD) framework and implementation of targeted financial sanctions (TFS).


PDF (English)


[September 2019]
Energy Investment Risk Assessment Report (EIRA) 2019.
By: Roger Gladei, Irina Sugoneaco and Alexandra Pinzari

EIRA is flagship publication of the Energy Charter Secretariat launched in 2018 that evaluates specific policy, regulatory and legal risks relevant to investments in the energy sector of 34 countries across Europe, Asia and Africa. EIRA 2019, launched on 30th September 2019, gives guidance to countries on how they can improve their investment climate and benchmarks their performance against international best practices. Gladei lawyers have contributed to the Moldovan chapter.


PDF (English)


[May 2019]
Recognition and Enforcement of Foreign Court Judgments and Arbitral Awards: Moldovan Experiences.
By: Dan Nicoară

Senior Associate Dan Nicoară speaks on the Moldovan particularities of recognizing and enforcing foreign arbitral awards, in the international conference hosted by the Moldovan State University with the support of Gladei & Partners, during the American Bar Association ILEX visit to Moldova, Ukraine and Belarus.


PDF (English)


[May 2019]
Doing Business in Moldova / Legal 500 2019.
By: Roger Gladei and Dan Nicoară

In this exclusive Legal 500 editorial, first ever for Moldova, Gladei counsels shed light on the new Moldovan laws, business set up and operation legal requirements.



[March 2019]
Evidentiary matters under the recent legal amendments: another barrier for bad-faith litigations parties.
By: Valeriu Cernei

Senior Associate Valeriu Cernei speaks on what’s new in terms of evidentiary proceeding pursuant to recently enacted amendments to the Civil Procedure Code, in the conference organized by Juridice Moldova.


PDF (Romanian)


[November 2018]
Novelties in regulation of the security interests.
By: Roger Gladei

Roger Gladei speaks on what’s new about pledge and mortgage in the recently adopted amendments to the Civil Code, in the dedicated Panel 2 of the conference Juridice Moldova Professional. Civil Code 2.0.


PDF (Romanian)


[October 2018]
The dual VET structural reform in Moldova.
By: Roger Gladei

Roger Gladei speaks on the legal reform in vocal education and training (VET) implemented with the support of Gladei & Partners, in Panel 2 of the 6th edition of the International Economic Conference “MACRO”: Investment for People and Public Welfare.


PDF (Romanian)


[October 2018]
Energy Investment Risk Assessment Report (EIRA) 2018.
By: Roger Gladei, Irina Sugoneaco and Patricia Handraman

EIRA 2018, launched on 3rd October 2018, a new flagship publication of the Energy Charter Secretariat that evaluates specific policy, regulatory and legal risks relevant to investments in the energy sector of 30 countries across Europe, Asia and Africa. Gladei lawyers have contributed to the Moldovan chapter. The report is available online and can be downloaded here.


[June 2018]
Republic of Moldova: Securities and Banking Overview / Complinet Country Guide.
By: Roger Gladei and Dan Nicoară

The new Law No. 202/2017 on Banks Activity, enacted on January 1, 2018, has imposed more stringent requirements on the local banks insofar as corporate governance, risk management and compliance is concerned, in line with Basel III requirements. In particular, banks shall revise their internal management framework and ensure the material risks are properly addressed and prevented.


PDF (English)


[January 2018]
Republic of Moldova: First-Wave Reform of Security Interests Legal Framework / Central Bank (BNR) Journal of Law and Finance, No. 1/2017
By: Roger Gladei and Patricia Handraman

The article analyses the recent amendments to the security interests laws which have aligned the Moldovan laws with the best international standards, expanded the scope of movable pledge, clarified the regime of pledge of receivables, funds in bank accounts and proceeds, streamlined the subsequent pledge, and introduced new self-help enforcement measures.


PDF (English)


[March 2017]
Arbitration - a mechanism where there are no losers
By: Roger Gladei

In the interview offered to BizLaw, Roger Gladei advocates the commercial arbitration and the competitive advantages of the newly-launched AmCham Court of International Commercial Arbitration, where Mr. Gladei is the President.



[September 2016]
Benchmarking PPP Procurement 2017 in Moldova
By: Roger Gladei and Iulian Paşatii

Benchmarking Public-Private Partnerships (PPP) Procurement presents comparable information on PPP procurement on a large scale by providing systematic data on the regulatory frameworks and practices governing PPPs in 82 economies. The scores of the Republic of Moldova are: preparation of PPPs - 63, procurement of PPPs - 78, unsolicited proposals - not regulated, and PPP contract management - 52. The top of the range are scores approaching to 100.


PDF (English)


[March 2016]
Case law on material liability and damages recovery / The 3rd National Labour Law Conference, 31 March 2016
By: Viorica Bejan

In the speech delivered to HR specialists and legal professionals Senior Associate Viorica Bejan has analyzed the recent court rulings on the material liability of employer and employee and the recovery of damages.


PDF (Romanian)


[September 2015]
Moldova: Any-Money Laundering Overview / Complinet Country Guide.
By: Roger Gladei and Stefan Milicenco

In the Republic of Moldova, traditionally certain forms of tax evasion or illicit entrepreneurship have been associated with money laundering. More recently, especially after enactment and first instances of enforcement of the last Law on Prevention and Combating of Money Laundering and Terrorism Financing dated July 26, 2007 clear distinction has been made between money laundering and tax evasion or illicit entrepreneurship. First published on Thomson Reuters on September 3, 2015.


PDF (English)


[June 2015]
Cloud Computing in Eastern Europe, Survey of Regulatory Frameworks (2nd Edition)
By: Roger Gladei and Corina Voda

This publication addresses the most important legal issues relevant for legal practitioners and business people dealing with cloud computing products and services in 26 jurisdictions across the region. This survey was prepared and coordinated by the specialist cloud computing and data protection team at PIERSTONE, a technology law firm in Prague, Czech Republic in collaboration with legal experts from the local law firms, including Gladei & Partners (Moldova).


PDF (English)


[May 2015]
Moldova: Insurance Overview / Complinet Country Guide.
By: Roger Gladei and Aelita Orhei

Moldovan insurance business regulation continues to be steadily upgraded, partly due to diversification of the local insurance market, and partly due to Moldova’s closer, recently formalized ties to the European Union.

First published on Thomson Reuters on May 14, 2015.


PDF (English)


[January 2015]
VAT laws and practices in Moldova / Bloomberg BNA VAT Navigator
By: Roger Gladei and Corina Voda

New! VAT Navigator - This country-by-country guide provides businesses and tax professionals with comprehensive coverage of global VAT laws and practices for 114 jurisdictions across the globe. The Navigator covers GST and VAT laws dealing with 75 different topics to help manage certain elements of compliance and quickly access rates and thresholds. The VAT Navigator is part of Bloomberg BNA's Premier International Tax Library. View it on free trial today by visiting www.bna.com/premtax.


PDF (English)


[November 2014]
Movable pledge and leasing in light of the recent legislative amendments / Workshop for finance and banking lawyers, 19 November 2014
By: Roger Gladei

Benefits and risks arising out of the new secured transactions legislation are chopped up by Roger Gladei


PDF (Romanian)


[November 2014]
Commercial mediation in courts of law - lessons to learn / The First National Forum on Mediation, 18 November 2014
By: Aelita Orhei

Based on practical examples, Aelita Orhei has showcased the value mediation can add in commercial disputes.


PDF (Romanian)


[November 2014]
Doing business in Moldova / JCI annual conference, 16 November 2014
By: Roger Gladei

The legal perspective on how to do business in Moldova in a right way, for both foreign and local investors.


PDF (English)


[September 2014]
Moldova: Securities and Banking Overview / Complinet Country Guide.
By: Roger Gladei, Corina Voda and Stefan Milicenco

Moldovan financial services and capital market legislation has undergone significant modernisation in recent years. Such modernisation has had as objectives: (i) reviving the capital market and increasing access to finance through capital market; (ii) shift from rulebased ("tick-the-box" approach) to risk-based supervision; and (iii) harmonisation of national laws on credit and financial institutions, capital market, insurance and leasing with European Union legislation.
First published on Thomson Reuters Accelus on August 27, 2014.


PDF (English)


[August 2014]
Moldova: summary of anti-money laundering legislation / The International Bar Association (IBA) Anti-Money Laundering Forum, the lawyers' guide to legislation and compliance
By: Roger Gladei and Stefan Milicenco

Under the provisions of Article 8(1) of the AML Law, any lawyer is under the obligation to notify the NAC immediately of any transaction or activity which is under planning, in process, or executed that is suspected as money laundering


Click here: http://www.anti-moneylaundering.org/europe/Moldova.aspx


[April 2014]
Case law on dismissing of employees / Labour Law Conference 2014
By: Aelita Orhei

In the speech delivered to HR specialists and legal professionals Senior Associate Aelita Orhei presented court decisions on dismissing of personnel and analysed when minor inconsistencies in dismissing personnel do not lead to cancellation of the dismissal


PDF (Romanian)


[March 2014]
Court and out-of-court debt recovery / Legal Forum 2014
By: Roger Gladei

In the speech delivered to both legal professionals and businessmen MP Roger Gladei shared our experience in debt recovery and gave a couple of hints


PDF (Romanian)


[February 2014]
Moldova: Anti-Money Laundering Overview / Complinet Country Guide.
By: Roger Gladei and Aelita Orhei

The new Law on Prevention and Combating of Money Laundering and Terrorism Financing dated July 26, 2007 sets forth the framework for anti-money laundering and terrorist financing measures. In comparison to the first anti-money laundering law, which was enacted in 2001, the new law is in accord with the relevant international standards. The 2007 AML Law extended the range of reporting entities. The guidelines for suspicious activities and transactions, which the Centre for Combating Economic Crimes and Corruption passed, are aimed to help the reporting entities in transaction assessment.


PDF (English)


[June 2013]
Business culture profile - a Moldovan perspective / International Conference "MACRO 2013: A global view on Moldova's economy"
By: Roger Gladei

MACRO Annual International Conference is organized by the EXPERT-GRUP independent think tank in partnership with the Friedrich-Ebert-Stiftung and aims at providing a platform for a comprehensive discussion of the Republic of Moldova country risks, including economic, political, security and social, and how these risks shape the Moldovan economic trajectory.

All Conference presentations are posted here


PDF (Romanian)


[April 2013]
Moldova: Securities and Banking Overview / Complinet Country Guide.
By: Roger Gladei and Aelita Orhei and Corina Voda

Moldovan financial services and capital market legislation has undergone significant modernisation in recent years. Such modernisation has had as objectives: (i) reviving the capital market and increasing access to finance through capital market; (ii) shift from rule-based to risk-based supervision; and (iii) harmonisation of national laws on credit and financial institutions, capital market, insurance and leasing with European Union legislation. This new wave of legislative reform ultimately aims to create an investor-friendly legal environment which is seen as a precondition for sustainable growth of market-based Moldovan economy.


PDF (English)


[March 2013]
Political Turmoil Affects Business / Interview published in 'Banks and Finances. Profit' journal
By: Roger Gladei
Source: Banks and Finances. Profit

In an exclusive interview Roger Gladei speaks on the impact of the political uncertainties on business environment, the relations between authorities and business, as well as the major challenges investors face while doing business in Moldova.



[February 2013]
Legal Pocket Guide for the ICT Industry / Presentation at the ATIC Annual Meeting
By: Corina Voda

Developed by Gladei & Partners in cooperation with the Moldovan Association of Private ICT Companies (ATIC), the Legal Pocket Guide is the primary source of legal advice for any ICT company doing business in Moldova or just planning to set up.


Click here: http://prezi.com/ttqhrtqnuxln/regimul-juridic-al-tic-la-un-buzunar-departare/


[January 2013]
Towards harmonisation in state aid: The case of Moldova and Georgia
By: Aelita Orhei and Lita Surmava
Source: http://www.uni-graz.at/rdekacww_orhei_and_surmava.pdf

Both Moldova and Georgia are similar to each other in certain aspects of their political and economic situations, which could well be the reason why their political leaders (but also the politicians of many other countries) opted for EU Integration, being driven by the benefits of access to a large internal market.


PDF (English)


[December 2012]
Jurisdiction update: Moldova - Insurance
By: Roger Gladei and Aelita Orhei

The latest amendments to the Law on Insurance dated December 21, 2006 and the Law on Compulsory Motor Third Party Liability Insurance dated December 22, 2006, appointed for full implementation by the end of 2012, represent a steady upgrade of the Moldovan insurance business regulation. Current insurance legislation core provisions encompass: Life and non-life (general) insurance businesses require separate, exclusive licences. Life insurance businesses are allowed to subscribe risks covered by general (accident and health) insurance without having a separate licence, provided that such risks are ancillary to the ones already insured.


PDF (English)


[April 2012]
Moldova: Securities and Banking Overview / Complinet Country Guide.
By: Roger Gladei and Aelita Orhei

Moldovan financial services and securities legislation has undergone significant modernisation in recent years. Such modernisation was focused on: (i) fuelling the capital market by streamlining the securities issuance and secondary market transfer rules; (ii) unifying the supervision of all non-banking financial institutions under the roof of a single supervisor; and (iii) harmonisation of national laws on credit institutions, capital market, insurance and microfinance organisations with European Union legislation. This new wave of legislative reform ultimately aims to create an investor-friendly legal environment which is seen as a precondition for sustainable growth of market-based Moldovan economy.


PDF (English)


[March 2012]
Moldova: Insurance Overview / Complinet Country Guide.
By: Roger Gladei and Aelita Orhei

The adoption of the Law on Insurance No. 407-XVI dated December 21, 2006, and subsequent regulations issued by the public regulator, marked a turning point in insurance business regulation in Moldova. Insurance regulatory and supervisory power is vested in the financial market "mega-regulator", the National Commission for Financial Market.


PDF (English)


[October 2010]
Enforcement of Security / International Conference 'Current issues in Moldovan financial-banking industry'
By: Roger Gladei

Quick, cheap and simple enforcement of security is crucial in the secured lending. New Law on Mortgage and the revised Enforcement Code leaped into re-balancing the interests of creditor and debtor and improving the enforcement proceeding.


PDF (Romanian)


[October 2009]
Acquisition in the banking, insurance and leasing industries / IFLR1000 2010.
By: Roger Gladei

Ranked fifth among 184 countries surveyed under the Banker's 2009 World Financial Health Index, Moldova might well claim that its financial sector is healthy and thus interesting for potential investors. High investment returns combined with stable legal and regulatory environment bring Moldova onto the expansion maps of important EU and other foreign investors.


PDF (English)


[June 2008]
Mortgage and Immovable Loans: the Modern Trends / Workshop for the banking and non-banking financial institutions' specialists.
By: Roger Gladei

Mortgage lending legislation in Moldova has been developed on a piecemeal basis and is still very patchy. The presentation focuses on the practical issues related to mortgage creation and enforcement, as well as on the main provisions on the draft Law on Mortgage and how it deals with the current issues.


PDF (Romanian)


[June 2008]
Mortgage and Immovable Loans: the Modern Trends / Workshop for the banking and non-banking financial institutions' specialists.
By: Roger Gladei

Mortgage lending legislation in Moldova has been developed on a piecemeal basis and is still very patchy. The presentation focuses on the practical issues related to mortgage creation and enforcement, as well as on the main provisions on the draft Law on Mortgage and how it deals with the current issues.


PDF (Romanian)


[April 2008]
The Policy Brief on Corporate Governance of Banks in Eurasia: a Member View / EBRD-hosted Conference on Corporate Governance of Banks in Eurasia
By: Roger Gladei

Under the aegis of OECD and EBRD, an international Task Force consisting of representatives from ten Eurasian countries (including Moldova) has developed a Policy Brief on Corporate Governance of Banks in Eurasia. The purpose of the Policy Brief is to serve as a source of reference together with the OECD Principles of Corporate Governance and the Basel Committee on Banking Supervision Guidance Enhancing Corporate Governance for Banking Organisations. The Policy Brief makes a series of recommendations which could be helpful for both the lawmakers, regulators and industry professional associations in their effort to improve the corporate governance framework.

All Conference presentations are posted here


PDF (English)
PDF (Russian)


[March 2008]
Corporate Bonds as Company Financing Source / Article published in 'Экономическое обозрение ЛОГОС-ПРЕСС' (Economic Review LOGOS-PRESS) Newspaper
By: Roger Gladei

Recent amendments to the securities legislation opened for the best Moldovan corporations the opportunity of getting access to an alternative source of debt financing -corporate bonds. The article delineates the conditions for corporate bond issuance on both domestic and foreign markets and identifies Moldovan companies which stand better chances for successful bond IPOs: industry leaders, exporters and real estate developers.


PDF (Russian)


[December 2007]
Legal Framework of Bond Issuance / USAID-sponsored Conference 'Building a Bond Market in Moldova: Essential Steps for Development'
By: Roger Gladei

Sporadic issuances of corporate bonds denote that either Moldovan companies lack the understanding of the associated benefits or that legal framework remains defective, or both. Addressed to a wide business attendance, the presentation points at the practical problems related to a bond issuance and suggests certain solutions thereto.

All Conference presentations are posted here


PDF (English)
PDF (Romanian)


[June 2007]
No Foreign Investor will Step into the Market without Knowing the Rules of the Game / Interview published in 'Capital Market' Newspaper
By: Roger Gladei

The new-fledged Corporate Governance Code is based on the well-known 'comply or explain' principle and makes the first step toward self-regulation, built around the soft law concept. Although the Code is not binding, adherence thereto will help the Moldovan companies to prevent corporate problems and gain in momentum for future growth.


PDF (Romanian)
PDF (Russian)


[April 2007]
Corporate Governance Enhancing - the Current Agenda / Article published in 'Capital Market' Newspaper
By: Roger Gladei

A recent Ernst & Young research has shown that within the following three years Moldova is going to become an important SEE investment destination. While assessing the business risks, the investor is paying an increased attention on corporate affairs of the investee, including the sound management, clear lines of responsibilities and prevention of conflict of interests. As far as banks are concerned, two additional issues needs consideration, namely the 'technological lack of transparency' of banking operations and the relation between regulation and 'moral hazard'.


PDF (Romanian)
PDF (Russian)

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