Protocol for capital market

The National Securities Commission (CNVM) and the National Bank of Romania (NBR) will soon sign a protocol.

The purpose of the document is to reconcile the tools used in the supervision of the monetary, capital and insurance markets, CNVM chairperson Gabriela Anghelache told the “Capital market” conference organised on Tuesday by Piata Financiara (Financial Market) magazine.

At present, four think-tanks comprised of specialists of the three markets, members of Parliament’s specialised Committees and Government representatives are working on a set of four laws to lead to a real revolution on the capital market, according to those attending the seminar.

“Together with the new CNVM, we vowed to have four new laws worked out by October 1, which should meet the standards of mature economies and even the United States ones,” Toma Constantin, senator and member of the Senate’s Budget-Finance Committee, told the same conference.

The new set of laws will consist in a new securities and exchange law, in a law regulating the activity of the Collective Placement Bodies, a new law on Commodities Exchange and a new CNVM statute.