The law draft comes as a result of the consultations between CNVM and the market participants, operators, depositaries, issuers, professional associations and investors. The main objective is investors’ protection in the companies traded on Rasdaq market, the commission said in a statement Thursday.
Also, in some particular cases, the shareholders could withdraw from the company’s stockholders’ structure, at a fair price, “complying with their legitimate rights as investors on the capital market.”
Later this day, the Capital market investors association AIPC asked CNVM to publish the draft law proposal on the capital market restructuring that will be sent to the finance ministry.
According to investors, until the draft law is being published, they “are reticent” on CNVM’s statements on the existence of some provisions ensuring the compliance of stockholders’ rights and interests.
The uncertain statute of Rasdaq market has been an issue pending for several years, which CNVM and the Bucharest Stock Exchange haven’t managed to settle.
The problems started in 2004, once with the legislation change in the European Union. Since then, Rasdaq was neither a regulated market nor an alterative trading market.
Rasdaq market classification stirred conflicts this year between the representatives of the Bucharest Stock Exchange and AIPC.