SIF cap on holiday. Talks to be resumed in autumn

Deputies maintain they are out of time and have postponed talks on the bill on increasing SIF stake cap until September, blocked on the table of the Chamber of Deputies’ Budget and Finance Committee for more than three months. Parliamentary holidays start on July 1. During this time interval, Committee members maintain they have talked with the main capital market players on legislative changes, they waited for SIFs General Meetings of Shareholders of late April to be held, and they are now waiting for a new point of view from the Government. Last year, the Government rejected the elimination of the SIF stake cap, but the bill of that time did not refer to raising it to 5%, but to its elimination. “We hope the Budget Committee draws up a report on the bill by the end of the parliamentary session. There is no time for the bill to be discussed by the Chamber of Deputies until July 1, so that talks will be resumed in July. (…),” said Adrian Nitu, secretary of the Budget, Finance and Banks Committee. He accounted for the long period of time during which the bill was blocked at the Committee by the Committee’s having had other priorities.