RSS
ASF has a main objective to ensure stability and good functioning of the market for financial instruments
The Authority for Financial Supervision (ASF) has as main objective to ensure stability, competitiveness and good functioning of the markets for financial instruments, stated the chairman of the Authority, Nicu Marcu, in his message sent to the Summit for Funds Administrators in Romania.
‘First, I have to congratulate BVB on getting the statute of emerging market. For the
Romanian economy and for the domestic capital market there are new opportunities which are possible, concrete ones, for the development of the Romanian economy. The capital market must become an engine of the economy which offers sources of financing for the companies as well as a place for investments for the insurance companies, for the pensions funds which could lead directly and indirectly to economic growth. I say that BVB must become a strategic regional hub for the other financial markets în the South-East European region. For this it is necessary to have better liquidity, and this is possible by offering quality shares, in a more active involvement of the Romanian state To the development of this financial sector’ said the ASF chairman. His message was presented by the Manager of the Department for Communication and Interinstitutional relations of the Authority, Daniel Apostol.
Nicu Marcu mentioned that the drafting national strategy for the capital market is one of the main projects which the Authority, in partnership with the ministry of public finances, promotes for the establishment of a coherent framework for the development of the capital market and the facilitation of access to financing for all types of investors.
Out of the sectors of the capital market, over the last years, the market of collective
placement market had a better development and enjoyed important growth of assets
managed on long term, despite the trouble generated by the Covid-19, he showed.
Although the market is still dominated by fixed-income securities, by lacking sophistication, and diversification of products for accumulation and investment found on more developed markets, it should be emphasized the importance of the industry of investment funds în the process of savings, especially in a financial environment characterised by low interest rates.