Legislative omission of the illegal practice of financial activity as an offence

Abstract

The classification of a prejudicial act/harmful event pursuant to Article 2411 (Unlawful practice of financial activity) of the Moldovan Criminal Code involves determining the offence objective and subjective constituents. The subject of the offence is the main player, without whom there can be neither crime nor criminal liability. The Parliament has recognised natural and legal persons as subjects of offence. However, the legal person is held liable for the committed offence only when the Special Part of the Criminal Code comprises appropriate sanctions. In case of the offence covered by Article 2411 of the Criminal Code, the Legislature has not recognised the legal person as a subject of crime. This Article shall deal with the unlawful practice of financial activity and the possibility of its commission by a legal person. Likewise, the Article aims to justify the need to regulate the criminal liability of legal persons along with the criminal liability of natural persons holding management positions pursuant to Article 21 (3) of the Criminal Code. For the offence subject to research, the legal person shall be referred to criminal justice.