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ASF: last barriers in the legislation on capital market will disappear in 2017
The last barriers existent in the legislation on capital market will disappear in 2017, and the situation on the Forex market will be regulated to have fewer people losing out, the Deputy Chair of the Financial Supervisory Authority (ASF), Mircea Ursache said.
"2017 is going to be the year when the last existent barriers in the legislation on the capital market will disappear. Here I refer to the consolidation of the shares' value for solving section 1 of the Central Depository, to the investment's barriers at SIFs [Financial Investment Company], to the thresholds. So, 2017 is going to be the year when even these barriers will disappear. We have another piece of news for 2017. We will regulate the situation of the outlawry that is practiced nowadays on the Forex market. 2017 will be the year when the retail investors will have very precise provisions in the regulating acts, so as to avoid having that many people losing out among those who are tempted and deceived by the call-centers practicing Forex in Romania", Ursache said.
He is of the opinion that next year the daily transactions will be 3-4 times higher than those in the present.
"Taking into account the premises created in 2016 - here I refer particularly to the decision of the main international agencies that have placed Romania on the list of states that will accede the status of an emergent market, leaving, after many years, the status of a border market, the recent listing of the first private investor on the regulated stock from Bucharest; to the fact that the last legislative packages connecting the European legislation to the Romanian legislation were finalized and forwarded to the Parliament, and taking into account that the political elite understood that state companies also need to be listed, for the sake of transparency and corporate governance - I estimate that 2017 will place the capital market among the most performing sectors of the economic-financial spectrum in Romania. I estimate that the daily transactions, after listings and all the events that took place, both of state companies, as well of some private players, will be 3-4 times higher than those from today, registered on average at the Bucharest Stock Exchange [BVB]", the official of ASF stated.